No ID requested, would you complain?

chriz1000

My business partner today went into our local Lloyds TSB branch to make a CHAPS transfer for over £41,000. The money was paid into our project managers account.

When he was in the bank they never once asked to see any forms of ID and didn’t ask any security questions. They simply asked him to sign the CHAPS form! Not being funny, but anyone with our account details could have walked in and withdrawn a lot of money from our account just by forging a signature. Do you think this procedure is acceptable or should I take it further

cmjohnson_86

Just shows you how easy it could be to obtain money in someone elses name. They really need to start checking things like this more often especially with todays society.

EagerLearner

I presume you should take that one further - I get asked ID to open a savings account with £1 ;o)

Are the accounts both with the same bank and linked to the same business? If so they may not need to ask ID as you're not taking it 'out' of the business if you see what I mean.

chriz1000

There not linked at all, it’s another company that the money was transferred into!
I think I’m going to bring it up with my business accounts manager tomorrow.
Usually when I take out anything more than £1000 they ask for some form of additional ID. We have never even used this branch before, so its not like the member of staff could have recognised us!
Cheers.

dunstonh

Why do they need additional ID? They have the signatures to compare.

Remember a CHAPS payment also has an audit trail unlike cash withdrawals.

jonesMUFCforever

chriz1000 wrote:

My business partner today went into our local Lloyds TSB branch to make a CHAPS transfer for over £41,000. The money was paid into our project managers account.

So he went to your LOCAL LTSB where I presume someone there would have known him.

EagerLearner

Mmmm... I still think ID would be appropriate on that amount - definately worth enquiring about - does no harm and reassures you.

waddy80

Banks tend to use a customer verification process. If he went in a local branch and one of the cashiers recognised that he was a party to the account, that is better than a signature or a passport etc, as these can be faked.
Some banks are even starting to use eID & V when opening accounts. This is when they search information already held by credit reference agencys, and match it against what has been supplied. If it matches they will not require any ID to open an account!

I work for a bank, and the number of instances of frauds by people who come in with fake ID is silly. if we can use other means why not!

amandathepanda

Bank cashiers have the authority to waive ID requirements if they have known the customer for a certain length of time,especially for business accounts.

inmypocketnottheirs

I regularly cash cheques at Lloyds for a few hundred pounds and rarely get asked as my signature is on their system. However it surprises me each time the ease at which they cash cheques. I do remember sometime recently a Lloyds bank branch did get into some deep water with cashing forged cheques without checking.

In any event, if there was a fraudelent transaction, then the banks normally immediately rectify the transaction then investigate.

But as the OP rightly questions, is this slap dash approach acceptable, I think not.

kenshaz

Why are you concerned,no crime was being commited ,your money was not in danger,start living