I don't know if this is really relevant to uk.finance. If it isn't then I'm sorry.
Recently I wrote to Barcalys requesting they change some details on my account. It was a properly written letter with my signiture at the bottom.
A couple of days later I recieved a letter telling me they had "lost my signiture card". Does this mean they no longer have my signtiure on file and if so how do they authenticate cheques? Is there a security risk here?
Many thanks.
It sounds like there is. Try phoning them up to see if they want another signature card.
I may be wrong, but I get the impression that signatures only get compared if there is some query.
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True. Signatures are only checked afterwards if there's a dispute. Donald Duck could sign 'M. Mouse' and the cheque would clear OK.
If it was a retail sale however, the blame for any loss would fall on the shop for not checking the signature againt the card.
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