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

capdjq to BrianON

Premium Member

to BrianON

Re: RBC blocks housebound senior from cashing pension cheques

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 If an unscrupulous daughter had withdrawn the money the Bank would have got all sorts of bad publicity.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 If an unscrupulous daughter had withdrawn the money the Bank would have got all sorts of bad publicity.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.
zod5000
join:2003-10-21
Victoria, BC

zod5000

Member

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 If an unscrupulous daughter had withdrawn the money the Bank would have got all sorts of bad publicity.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