Currently, if a customer sets up an automatic transfer at one of our branches, he/she is required to provide a voided check as proof that the account at the other financial institution is in our client's name. Operations would like to automate this process, but cannot capture the voided check in an automated process. And, many times, customers don't have a voided check to provide, so automating makes sense. But, there's hesitation because of the risk that the client may be transferring to an account in someone else's name (example I was given was a mother setting up an auto transfer to her daughter's account). I pointed out that our online banking customers only need to provide the routing number and account number to establish auto transfers, but I still received pushback. Am I taking an oversimplified view of this?
Deep breath in...cleansing breath out...