[mistercheph]

Modern banks don't have the personnel bandwidth to physically verify the identity of more than a few tenths of a percent of their customers on a given a day, at that rate it would take them close to a year to physically verify the identities of every customer once.

For example BofA has ~70 million customers, 3,700 retail branches, if each has three tellers at any given time of operation (generous at BofA these days, where you'll usually find one) and is open 8 hours a day, and average time to serve a customer is 20 minutes:

3,700 * 3 tellers * 8 hours * 3 customers / hr = 266,400 customers / business day

70 million / 266,400 customers = 263 business days