Sorry, not sorry
Where do you find the cheque-hold policy?
Day-to-day companion booklet
What does DNCL stand for?
Do Not Call List
Does access to funds regulation apply to other currencies?
No!
What is the limit of a cashing a government cheque?
$1500
What are the four steps involved in KYC?
1. Identify
2. Collect
3. Record
4. Verify
Cx has a Canadian cheque drawn in Canada, what is the hold period for it?
4 business days, after day of deposit
(or 5 business days including day of deposit)
How long does it take for the DNCL to reflect that a person has been added?
31 days
Do we need to issue notice of refusal to revoke cashback?
Negative!
Which government cheques are eligible for the $1500 cashing?
Only federal cheques
What is our early morning signal at CFC?
Chair turned around
9 business days, after the day of deposit
(10 business days including day of deposit)
9:00 - 9:30 Weekdays
10:00 - 6:00 on Weekends
Does the BM need to sign on the notice of refusal?
Yes!
When would we decided to decline to cash a government cheque?
- ID in unacceptable
- Cheque appears to be altered or counterfeit (illegal/fraudulent)
Describe the purpose of the Whistleblower policy with examples, and where can you find it?
- Utilized when you cannot approach the individuals in the chain of communication dealing with fraud, breaches of guidelines for business code of conduct and financial reporting concern.
- Search bar function or HR passport.
Cx has US cheque drawn in the US, what is the hold period?
19 business days, after the day of deposit
(20 business days including day of deposit)
Does the DNCL cover small business?
No - Small business calls are okay
Provide 4 reasons as to why we would issue a notice of refusal?
1. Cx has been declined the first $100 of a cheque
2. Hold is extended longer then 5 business days
3. Cheque is deposited at the ABM and cx did not get the first $100
4. Cheque is deposited at the ABM and the hold is extended past the standard 5 days
What other reason would give a client a written notice of refusal?
Decline to open a bank account.
1. Fax the wrong number
2. Customer info left out on printer/desk
3. Mail goes to wrong address and is opened
4. Email wrong client with information
What is the hold policy for international cheques?
29 business days, after the day of deposit
(30 business days including day of deposit)
Who is considered a customer?
- Currently has products with us
- Has had business with BNS in the last 18 months
- Has made an inquiry regarding products/services in the past 6 months
What the four reasons that we would deny the first $100 or extend the hold?
1. The deposit is illegal or fraudulent
2. Acct has been open less then 90 days
3. Cheque has been endorsed more then once
4. Cheque is stale-dated
- a student ID card
- a visa from another FI with their name on it
How would you proceed?
Get the supervisors approval and issue them a written notice of refusal as the ID requirements are not met.
Provide an example of a unusual transaction and how you would proceed with it?
Advise the AML officer.