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Banks are allowed, with your permission, to ask personal questions about how you handle your finances and which banking solutions you are currently using. This is called "profiling." The reason banks do this is to make sure that if your current banking solutions fall short of your expectations and your needs, they can then recommend something that makes more sense for you and your situation. This results in a happy client (you) and additional relationships for the bank. Banks are also legally obligated to follow the Know Your Customer (KYC) regulation for all banks in the US. They may ask questions about where the money is coming from to ensure that you are not doing anything illegal.

Banks want to get to know you. They are dealing with your money, your finances are very personal, but that's what the bank is there for. I'd want my banker to know my situation so that their recommendations make sense. If I am missing out on something that would benefit me, I'd like to know. How can they recognize a need without asking questions?

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Q: Are banks allowed to ask personal questions when opening another bank account?
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