WTF? An employee just called the bank to change his address and they asked for his occupation, his alien status, etc.

Never heard of that requirement but M&T bank is a dumpster fire. I closed out all my accounts with them.

Why couldn't he do this online?

LRC reply: He tried but when he tried to do it he didn't his online id name and they said he already had one and the only way he could get it was if he called.

rojo wrote:

God I'm annoyed with big companies.

Not sure who M&T is, but Wells Fargo and every other national banking institution has made it trivially easy to change my address online.

You are trying to cram your worldview into this one isolated event. It doesn't fit.

The first step in working an identity theft scam is getting a change of address on a bank account. The ID thief then applies for a new credit card or requests a new check book and has it sent to the new/phony address. A vigilant bank would try to verify the identity before allowing a change of address.

rojo wrote:

I'm sitting in the office and had to listen to an employee try to change his address with M&T Bank.

Letsrun has an office?

You have a coworker that works with you for letsrun? Or another person renting an office like you but having nothing to do with letsrun?

Most likely the person he was talking to was outsourced. Someone like ghat would only be following a script and wouldn't understand the nuances of the situation.

Why didn't he ask for a supervisor? 99 out of 100 times that will get things done.

Changing primary contact information for sensitive accounts SHOULD be a lengthy process. Way too many big companies, banks included, are too lax on this type of security measure. It's annoying af but that is just the world we live in

It’s an anti-terrorism law. Helps block money laundering, etc. Maybe different banks interpret it differently.

I open a lot of bank accounts (grabbing the highest paying CD for my E-fund every year), and there’s always a citizenship verification or something like that.

Just googled the law name: Patriot Act of 2001.

That's what he gets for handling personal business on company time.

rojo wrote:

God I'm annoyed with big companies. I'm sitting in the office and had to listen to an employee try to change his address with M&T Bank. It probably took close to an hour.

So my coworker calls the bank to change his address. On the first attempt, the recording said they were too busy and hung up on him. There was no offer to call us back etc.

Eventually he gets someone on the phone. He gives him his new address. The guy then says he needs his employment info, alien status etc. Employee says something along the linse of "Ive had an account with you for years, why are you asking me this?" The guy claimed he was required to do it by law.

Any truth to this?

You think widespread voting fraud is rampant and yet you think ID verification is a problem?

talent evaluator wrote:

That's what he gets for handling personal business on company time.

fraud waste and abuse

He shouldn't even be able to do this over the phone. That is like voting by phone or mail, which rojo is probably violently opposed to. Go to the bank and show them several forms of ID, utility bills and mail with the new address. Beware of doing any changes on line because there is a 50/50 chance of ID theft -- Russian hackers = good, Chinese hackers = bad, according to the person in charge.

I didn’t even know Letsrun made money up until a year ago . I thought it was a big hobby of theirs

WFH mileage wrote:

It’s an anti-terrorism law. Helps block money laundering, etc. Maybe different banks interpret it differently.

I open a lot of bank accounts (grabbing the highest paying CD for my E-fund every year), and there’s always a citizenship verification or something like that.

Specifically, "Know Your Customer" regulations as mandated by the PATRIOT ACT by rojo's favorite president and politicians.

party like it's 1859 wrote:

Why couldn't he do this online?

He didn't know his online account id.

Precious Roy wrote:

The first step in working an identity theft scam is getting a change of address on a bank account. The ID thief then applies for a new credit card or requests a new check book and has it sent to the new/phony address. A vigilant bank would try to verify the identity before allowing a change of address.

That's why companies have a series of security questions and two factor authentification to verify your identity. It can be done securely online if the bank knows what they are doing.

WFH mileage wrote:

It’s an anti-terrorism law. Helps block money laundering, etc. Maybe different banks interpret it differently.

I open a lot of bank accounts (grabbing the highest paying CD for my E-fund every year), and there’s always a citizenship verification or something like that.

But is the law new. It wasn't a new acount. Or were they just trying to subtly make sure he was the actual account holder. It probably didn't help when I got on the call and one point and said all the questions were driving me nuts.