An expert calls for a review of the bank in case there is a big difference in the signature
Customers carry out banking transactions without checking the “approved signature”
A customer cashed a check with an unauthorized signature after it was deposited in the automated machine.
archival
Awatef Al Harmoudi: “Transactions via ATMs require the customer to enter the ID first and then sign it.”
picture
Dealers with banks confirmed that they did not check the authenticity of the signature approved by them with these banks, pointing out that they completed banking transactions with different signatures, including cashing checks through automated deposit machines, submitting financing requests, and certificates of indebtedness.
They explained to "Emirates Today" that banks they deal with accept specific requests, without review, or communication by bank employees, or even return of checks deposited through the machines, at a time when a banking expert said that some transactions require the customer's signature, and others require identity with the signature.
The expert called on the dealers to review the banks they deal with, and discuss the matter with them in case there is a big difference in the signature, explaining that there is no audit percentage on the signature that shows 100% conformity, but rather the ratio ranges between 70 and 90% according to the policy of each bank.
Customer experiences
The dealer, "Mohammed.M", said that he had issued a check to an employee with a signature that differs from the one approved by the bank, by mistake, but he discovered the matter later, and was surprised that the check was cashed after the employee deposited it in the automated deposit machine.
He added that with the aim of making sure of this, he issued another check with a different signature from the “accredited” with the bank, and it was cashed, asking: “Is this not considered an entry point for falsifying or exploiting customers’ data negatively?
Why are such checks that do not have a valid signature not returned?
In turn, the customer «Ahmed. S.» said that he submitted a financing request to the bank he deals with, with a different signature from the one registered with the bank, and the request was accepted without review, surprising that the request reached more than one department in the bank, all of which did not notice the difference in signature.
The statements of other dealers on the same subject were identical, except that the first transaction was related to a credit card application, and the other was a certificate of indebtedness.
audit process
Banking expert, Awatef Al-Harmoudi said that some transactions require the customer's signature, and others require identity with the signature, such as changing or updating data, or submitting certain requests from the bank by visiting the branch.
She added that transactions via ATMs require the customer to enter the ID first, then sign it, indicating that the machines do not recognize signatures, and therefore go for manual checking by bank employees.
She added to «Emirates Today» that there is no percentage of verification of the signature that shows 100% conformity, but the percentage ranged between 70 and 90%, according to the policy of each bank.
And Al Harmoudi continued: “If there is a big difference in the signature, the customer should review the bank and discuss the matter, but in all cases, there is a responsibility on the customer to preserve his banking data and information besides the signature, and in the event that a sheet of his check book is lost, for example, And it has a signature, so here he must contact the bank and inform him of it.”
Al-Harmoudi confirmed that the identity of the customer is the first document by which he maintains the validity of his signature, as it protects it on the one hand, and protects the bank on the other.
Follow our local and sports news and the latest political and economic developments via Google news