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jaberi
Member
2012-Nov-13 6:06 am
RBC blocks housebound senior from cashing pension chequesIf you go by TV commercials, banking seems easy, hip even. But if you're someone like Nellie Graham, a housebound 94-year-old woman, banking can be a nightmare. Graham's daughter, Linda, could not get the local RBC branch in Vancouver where Nellie's ailing husband has the family account, to cash her mother's pension cheques, even though she has power of attorney, giving her the right to handle her mother's affairs. » ca.news.yahoo.com/blogs/ ··· 717.html |
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jaberi |
jaberi
Member
2012-Nov-13 6:13 am
change the bank.... |
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DKSDamn Kidney Stones
join:2001-03-22 Owen Sound, ON |
to jaberi
Dumbest statement of the day came from the Canadian Banking Association. quote: The Canadian Bankers Association (CBA) said banks try to accommodate people in these cases, but don't always.
"Banks will take steps to accommodate people as much as possible depending on the situation," spokeswoman Rachel Swiednicki wrote by email. "Banks also make a number of other banking options available, including ABMs and online, telephone and mobile banking."
» www.cbc.ca/news/canada/b ··· ied.htmlNo machine can substitute for a real person, especially with any form of accessibility issue. And RBC covers its collective butt... quote: The same day Go Public contacted RBC about Nellie Grahams pension cheques, three bankers from her local branch showed up at her home to open a joint account, so her daughter can now do her banking.
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lugnut to jaberi
Anon
2012-Nov-13 7:25 am
to jaberi
It's rarely so simple that one can simply change banks in a situation like that. Often there are all sorts of direct debits and direct deposits going thru an account like that one and if you don't even have authority to cash a simple cheque, then good luck getting everything else changed over... |
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to DKS
Identity theft is becoming more of a problem and one way to counter it is tightening up various identification requirements and procedures for opening accounts and cashing checks. Bound to be some rough spots as this happens.
I note the story is about cashing checks vs depositing. Cashing is subject to more scrutiny as the money is gone when the person walks out the door. |
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capdjqBe Kind, Be Calm & Be Safe Premium Member join:2000-11-01 Vancouver |
capdjq
Premium Member
2012-Nov-13 9:05 am
said by BrianON:Identity theft is becoming more of a problem and one way to counter it is tightening up various identification requirements and procedures for opening accounts and cashing checks. Bound to be some rough spots as this happens. No kidding. Someone almost re-mortgaged my friend's home couple of months ago. Apparently his identity has been stolen. The police appear unable to help and he's had a tough time proving he's the real HE. If an unscrupulous daughter had withdrawn the money the Bank would have got all sorts of bad publicity. |
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LazMan Premium Member join:2003-03-26 Beverly Hills, CA |
to jaberi
Slippery slope, though - the news story could have just as easily gone the other way "Senior bilked of thousands, as bank watched"...
Not defending, but also not condemning - it's a rock and hard place kind of situation.
If the previous manager had given the family some better advice (add the daughter and wife's names to the account) year's ago - it would have been a non-issue today. The new manager was doing what he was supposed to do - enfore the rules...
As for the advise to change banks - just about every bank has the same rules about third-party access to accounts... I just went through something very similar with Scotia, myself - a different bank, with the accounts setup the same way, would have had the same issues... |
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StyvasWho are we? Forge FC! Premium Member join:2004-09-15 Hamilton, ON |
to capdjq
said by capdjq:said by BrianON:Identity theft is becoming more of a problem and one way to counter it is tightening up various identification requirements and procedures for opening accounts and cashing checks. Bound to be some rough spots as this happens. No kidding. Someone almost re-mortgaged my friend's home couple of months ago. Apparently his identity has been stolen. The police appear unable to help and he's had a tough time proving he's the real HE. If an unscrupulous daughter had withdrawn the money the Bank would have got all sorts of bad publicity. And that bad publicity matters to the bank, but from a legal point of view, power of attorney is power of attorney. I don't think the bank should be second guessing it. It's up to the individual to whom they assign that power. If the person is being taken advantage of, that's very sad; but, there's not much the bank can do about it. If I'm wrong about what the bank can do, I'd be happy to hear it. |
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to jaberi
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digitalfuturSees More Than Shown Premium Member join:2000-07-15 GTA |
to DKS
Translation: Royal Bank HQ got wind of the story and ordered the branch to make it go away. |
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DKSDamn Kidney Stones
join:2001-03-22 Owen Sound, ON |
said by digitalfutur:Translation: Royal Bank HQ got wind of the story and ordered the branch to make it go away. Yup. In full CYA mode. |
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GuspazGuspaz MVM join:2001-11-05 Montreal, QC |
to jaberi
It sounds like the solution would have been to just get PoA for her father. |
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to Styvas
said by Styvas:said by capdjq:said by BrianON:Identity theft is becoming more of a problem and one way to counter it is tightening up various identification requirements and procedures for opening accounts and cashing checks. Bound to be some rough spots as this happens. No kidding. Someone almost re-mortgaged my friend's home couple of months ago. Apparently his identity has been stolen. The police appear unable to help and he's had a tough time proving he's the real HE. If an unscrupulous daughter had withdrawn the money the Bank would have got all sorts of bad publicity. And that bad publicity matters to the bank, but from a legal point of view, power of attorney is power of attorney. I don't think the bank should be second guessing it. It's up to the individual to whom they assign that power. If the person is being taken advantage of, that's very sad; but, there's not much the bank can do about it. If I'm wrong about what the bank can do, I'd be happy to hear it. Every GPA document is different. They are generally drafted by lawyers. The wording (and what powers are given) would have to be sufficient as not to leave anything ambiguous. I would agree that GPA docs should be sufficient, but not all GPA docs are drafted equally. |
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to BrianON
said by BrianON:Identity theft is becoming more of a problem and one way to counter it is tightening up various identification requirements and procedures for opening accounts and cashing checks. Bound to be some rough spots as this happens. In fact Seniors generally face the most risk of Identity Fraud, and being victimized by their own family members. The financial industry is rife with cases of family members fraudulently applying for loans, withdrawing funds, etc without the consent of the senior involved. Without knowing the entire story, or RBC revealing its internal Security process it's difficult to say what the real motive is here. The real story here is that impersonal banking, while saving on human resources is beginning to prove just as costly with the amount of lost money due to fraud and other security related issues. |
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to jaberi
The real story here is that impersonal banking, while saving on human resources is beginning to prove just as costly with the amount of lost money due to fraud and other security related issues. Mmm so the banks are gettin in on the new businness eh ? |
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