Why are ALL banks run by such stupid people?

One wonders how they managed to lend Greece all those billions when everybody who goes there on holiday and sees the corrupt cash-based economy could have told them the loans will never be repaid.

My mum went into a care home (dementia).

I had to register a power of attorney will about 20 financial institutions etc.

They all wanted the original or a certified copy of the LPOA. I told them they can verify it themselves via the Court of Protection, but no, they want it from me. So if I was a conman I would just get a "solicitor" rubber stamp and stamp every page with it....

Some want a letter from a doctor certifying dementia. I can explain that an LPOA is an LPOA and they don't need such a letter, or they can contact the care home themselves, but no use explaining this to the script monkey on the phone. So, if I was a conman, I produce the letter myself. Easy.

This is right across the board. Stupid procedures which are totally obvious as to how they can be circumvented and which just make life difficult for the customer. And stupid people who run them, working under stupid managers who think them up, working under stupid chief execs who hide behind their "customer service" layer.

These stupid financial institutions are a heaven for fraudsters. You could so easily rip somebody off with a "registered" POA, because none of the outfits do an independent check. They just want to see a solicitor's stamp on every page, and all supporting documents come from YOU. What a load of stupid dumb wankers.

Reply to
Postman Pat
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School holidays started early?

Reply to
Charlie

Yes, this is a big problem and getting bigger as banks and b/socs have set up customer identification requirements which fall over on anything remotely nontrivial.

The ID requirements have mostly been set up way in excess of what is needed to meet govt requirements, but CYA is the name of the game today, especially if you are a middle manager.

They WILL have to change their procedures as they get flooded with old people in care homes in years to come.

Postman Pat wrote

Reply to
nobody

I have a bank account with bank [A].

I want to open an account with bank [B].

The ID requirements for bank [B] include providing a bank statement, from within the last 6 months with full names on.

As it is a joint account, bank [A] statements and cheques etc are provided with the account name. Eg Mr A B C Smith & Mrs D E F Smith.

Bank [B] has suggested that I ask bank [A] to change the account name to Mr Archibald Bartholomew Carruthers Smith & Mrs Dorothy Elizabeth Francesca Smith.

... and make sure that it fits onto the cheque :-)

They really have gone into overdrive.

Flop

Reply to
Flop

A friend had their card swallowed by the ATM at their branch. They went in and reported it. It was retrieved the next day. Getting it back, however was another story. The bank wanted ID. A Birth certificate (the same one they were happy to use for ID when they opened the account) was refused they wanted then to go and buy a passport (costing £77) or a driving licence (costing £50) and refused to accept anything less. They went for the cheaper and quicker option of reporting the card lost/stolen so that a replacement would be sent out. I am not sure if they did that in the branch.

Reply to
Rob

Went into Northern Rock, having recently sold a business. Withdrew a cheque, on demand, with no id required, for 500,000. Staff gave it to me immediately and unquestioningly.

Tried top open one of their "Silver Saver" accounts with the cheque they had just given me.

-Internal transfer not an option- They would not accept the cheque as I had no proof of id!!

They pretty much folded a few weeks later.

Reply to
Frayed

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