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DKS
Damn Kidney Stones

join:2001-03-22
Owen Sound, ON

DKS to jaberi

to jaberi

Re: RBC blocks housebound senior from cashing pension cheques

Dumbest statement of the day came from the Canadian Banking Association.
quote:
The Canadian Banker’s 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.html

No 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 Graham’s 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.
BrianON
join:2011-09-30
Ottawa, ON

BrianON

Member

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.

capdjq
Be Kind, Be Calm & Be Safe
Premium Member
join:2000-11-01
Vancouver

capdjq

Premium Member

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 If an unscrupulous daughter had withdrawn the money the Bank would have got all sorts of bad publicity.

Styvas
Who are we? Forge FC!
Premium Member
join:2004-09-15
Hamilton, ON

Styvas

Premium Member

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.

digitalfutur
Sees More Than Shown
Premium Member
join:2000-07-15
GTA

digitalfutur to DKS

Premium Member

to DKS
Translation: Royal Bank HQ got wind of the story and ordered the branch to make it go away.

DKS
Damn Kidney Stones

join:2001-03-22
Owen Sound, ON

DKS

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.
zod5000
join:2003-10-21
Victoria, BC

zod5000 to Styvas

Member

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.

CanadianRip
join:2009-07-15
Oakville, ON

CanadianRip to BrianON

Member

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.