Illegal Migrants in the US Risk Losing Access to Bank Accounts

JAKARTA - Illegal migrants in the United States may lose access to US bank accounts if the Trump administration implements a plan to impose citizenship requirements for account holders.

"From what is visible, the implicit intention of the government is to limit the access of illegal immigrants to the US banking system," said the director of the company Navigator Principal Investors, Kyle Shostak, to RIA Novosti, quoted by ANTARA, Friday, March 6.

"Thus, the US government may implement, as it has in the past, various actions with the aim of closing accounts belonging to illegal immigrants," he added.

The Semafor on February 24 reported that the US government was considering rules requiring banks to collect proof of citizenship, such as passports, from their customers.

Shostak expressed his belief that the implementation of the rules would not be a problem for foreign citizens who have legal status in the US.

"During the customer review process, foreign nationals will be identified and asked to provide their legal basis for staying in the US, such as visas or residence permits," he said.

"Almost all holders of long-term visas, including H-1B, O-1, and others, are entitled to open bank accounts, especially for Green Card holders," he added.

Semafor reported that even current account holders will be asked to provide proof of their citizenship if the policy is implemented.

Shostak said the overall process would also not cause problems for banks, and in general the rules would be well received by the banking community.

However, the report also states that the banking community expressed concerns that the potential move would be expensive and complicated to implement.