How Private Are You?
- 1.Would you be upset if your financial institution refused to accept a deposit to your account, unless the depositor provided details, such as your name, transit number, and account number?
- A.
Yes, I’d be upset, because the financial institution is being overly protective. The person is making a deposit, not a withdrawal, so there’s no privacy compliance risk involved.
- B.
No, I wouldn’t be upset. Even if my deposit is not made, the financial institution is following privacy compliance requirements to protect me.
- 2.If a customer’s accountant (or other representative) asks for the address of the account to confirm statements are being sent to the right address, and advises that the customer has requested this information because statements are missing, are you authorized to provide it?
- A.
Yes, because the customer authorized the accountant/employee to request this information, and you’re not changing any information, just helping a customer to verify status of the account’s statements.
- B.
No, because the customer must provide the financial institution with documentation authorizing their personal information (including account and statement details) to be disclosed to a third party.
- 3.If a third party comes in with a customer’s branch transit, account number, sub-number, and account name, which of the following transactions can be performed? (Choose all that apply)
- A.
US/CAD deposit to an active account
- B.
CAD/US deposit to an inactive account
- C.
Bill payment with cash/cheque
- D.
Bill payment from account
- E.
Inter-account transfer
- 4.If a third party comes in with a customer’s branch transit, account number, sub-number, and account name, which of the following requests can be performed? (Choose all that apply)
- A.
Make change (exchange denominations or coins)
- B.
Account balance information
- C.
Change from statement to passbook
- D.
Amend address
- 5.If a third party comes in with a customer’s branch transit, account number, sub-number, and account name, which of the following certify cheque transactions can be performed? (Choose all that apply)
- A.
Certify cheque as customer
- B.
Certify cheque as payee
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