Quote:
Originally Posted by BrianL99
I'm not confused even a little. I understand 100% how it works. Our company has a banking license and owns a bank. If you were responsible to "completing applications", you were mostly uninvolved with the bank's security functions.
He created a security issue, because the bank wasn't able to confirm his identify, via their 3rd party provider. That stops the money from moving anywhere, until it's sorted out to the Bank's satisfaction. It happens every day, especially when someone shows up with a Certified Check or a Bank Check.
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So PNC grabbed his money even though they couldn't confirm his identity and accepted his application, deposited the money and then realized THEIR error and dragged their feet for the extra interest they earned, not the depositor. Is that what you are telling me happened and is acceptable? The check should not have been touched if the app wasn't acceptable. What reputable financial institution would cash a check prior to establishing an acceptable account?