OpX

Losses and Fraud

100

Who should review Current Fraud Schemes and Prevention Guide?

This guide should be reviewed by all staff.

200

Where can you find Fraud Alerts?

Fraud Alerts are posted on the Bweb homepage and updated daily. Everyone should know where this is and should be reviewed regularly.

300

What can we do for non-customers?

We can complete these transactions for amounts up to $1500 CAN equivalent, up to a maximum of $2999 CAD equivalent with supervisor approval. The $2999 CAD equivalent limit cannot be exceeded. 

A disclosure statement will automatically print on S3 receipts advising non-customers to review TD’s Privacy Code for our commitment to protecting personal information.

400

Can we process bill payments using OFI cheques?

Can we process bill payments using OFI cheques?

500

What is the restriction on Sale of Drafts, Travelers Cheques & Wires?

These are restricted to customers of the TD Bank. New customers can purchase these after 2 business days/ 48 hours has elapsed.

CDIC

100

What does CDIC stand for?

 Canada Deposit Insurance Corporation 

200

Where can I find more CDIC info?

Brochure on legal mount

300

Eligible types of deposits for coverage:

• In Canadian dollars 
• Payable in Canada 
• Repayable no later than 5 years after the purchase (for term deposits) 

400

What are the four (4) CDIC-Insured Issuers available through TDBFG?

• Toronto-Dominion Bank 
• The Canada Trust Company 
• TD Mortgage Corporation 
• TD Pacific Mortgage Corporation (not available in Quebec) 

500

Name 4 products not covered by CDIC that we offer:

- Investments in mortgages

- Stocks

- Mutual Funds

- Terms/GICs over 5 years

- US Dollar or Foreign Accounts

- Corporate or Government Bonds, 

- Debentures and notes

- Treasury Bills

- Banker’s Acceptances

Protecting Consumer Rights

100

What does FCAC stand for?

Financial Consumer Agency of Canada

200

What is the Financial Consumer Agency of Canada (FCAC)?

FCAC is an independent body working to protect and educate consumers about financial services. The FCAC monitors compliance of financial institutions in three key areas: Consumer Protection Measures (Disclosure, Access to Basic Banking Services and Credit Business Practices), Codes of Conduct, and Public Commitments.

300

Requirements to Cash a Federal Government Cheque for Non-Customers

• Item must be $1500 and under. 
• ID must be valid 
• One piece of ID is sufficient if it has both a picture and signature OR 1 piece of ID and the customer can be identified by a TDCT customer in good standing OR 2 pieces from acceptable ID list on ABBS#522048.

400

Reasons for Refusal to Cash a government cheque:

• Evidence that the cheque has been altered or is counterfeit in any way 
• The amount exceeds $1500 (per item) 
• The non-customer is unable to provide identification as outlined in the ABBS #522048

500

Letter of Refusal must be provided to clients when we refuse to:

• Refuse open a personal deposit account 
• Refuse to cash a government cheque
• Refuse to make the first $100 of funds deposited by cheque to a personal account available
• Hold a cheque beyond the time frame set out in our Hold Funds Policy

Cheque Negotiation

100

What is the procedure when you receive a Double Endorsed Cheque(s)?

When a cheque is payable to one person but negotiated by another person it is double endorsed. These cheques have added risk, as they can be returned years after being negotiated. Double endorsed cheques should only be negotiated on exception with management approval.

200

What does CVS do?

 This service identifies counterfeit and altered cheques. Does not verify fund.

300

Can we deposit OFI chqs directly to a TD Visa?

Yes, you must put a full hold on the chq.

400

Name 5/7 requirements for CVS

• Cheque is minimum of $10,000 CAD or USD
• Cheque is payable to the registered name on CIF
• Cheque is issued from a business account
• Draft/Certified Cheque
• Issuer originates in Canada or USA
• Appropriate and full hold is lodged
• Exceptions can be submitted with management approval

500

When a cheque is payable to a Business, what is the procedure?

- Ensure the payee name matches the account name exactly. The cheque must be deposited in full to the account. High Risk with new SBB accounts as cheques can be stolen from another company with a similar name. Cheques will return as forged endorsement long after the hold has expired.

 - Chqs dated prior to account opening cannot be negotiated 

- Chqs is payable to more than one business: these cheques cannot be negotiated, even if all businesses bank with TD. Please advise your client that for their own protection, cheques are to be made payable to one company.

ODP/PODP

100

What is the Min and Max ODP?

Min: $300

Max: $5,000

200

What is the amount that is required by the BM to override a wire

$200k

300

Name 4/6 things you must disclose when providing a customer with a TD Visa?

- Information about the specific VISA card

- Annual Interest Rates

- Interest – free Grace period

- Minimum Payment -

- Annual fees. 

- If you are completing a switch from one VSA to another you need to complete the Consumer to Consumer product transfer confirmation. Have the client sign.

400

When can you use a release of liability form?

This for can be used at anytime but is recommended for withdrawals of $10k and more. Customers should always be encouraged to explore other options such as a draft or wire for safety reasons.

500

According to Access to Basic Banking, how much is mandatory we give to customers if conditions are met? What are 3 exceptions?

Immediate access to $100 is based on a maximum of $100 of total cheque(s) deposited per single/joint account, per day, including Saturdays and Sundays. 

Access to the first $100 is mandatory. Exceptions can only be applied if:

• The PDA has been opened for less than 90 days 

• There is a court ordered freeze lodged on the PDA 

• The cheque is double endorsed or stale dated