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Can I collect bank account information from participants in South Dakota? What are the requirements?

Based on the provided context documents, it appears that you are asking about collecting bank account information from participants in South Dakota. Here is the information that I found:

Requirements for collecting bank account information in South Dakota

According to [2.2], to establish a wagering account, an application for an account must be signed by the applicant. The advance deposit wagering licensee shall collect the applicant’s personal identifying information including:

  • Full legal name;
  • Date of birth;
  • Principal residential address;
  • Social Security number, or the last four digits of the Social Security number, or an equivalent government-issued identification number for a noncitizen account holder, such as a passport or taxpayer identification number; and
  • Government-issued identification credential or other information required by the executive secretary used to verify his or her identity and to prove the account holder is at least 21 years of age.

The licensee must also indicate the required information on the account application and the consequences of not providing the application. The applicant must agree to the licensee’s terms and conditions and privacy policies, and acknowledge that the applicant is prohibited from allowing any unauthorized person to access their account. The licensee must obtain the applicant’s consent to the monitoring and recording of the use of the applicant’s account by the licensee and the commission, and obtain the applicant’s assurance that the information on the application is accurate.

Conclusion

Based on the information provided in [2.2], it appears that you can collect bank account information from participants in South Dakota if you are an advance deposit wagering licensee. However, it is important to follow the requirements outlined in [2.2] when collecting this information.

Source(s):
Jurisdiction

South Dakota