Robin Roberts: The Reason Behind Banks Asking For ID All The Time

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Business Leaders Podcast

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  Interestingly, many banks receive customer complaints not about their services but their standard procedure of asking for ID all the time. Regulars often see this as annoying and repetitive, which sometimes leads to arguments with bank tellers and staff. Setting the record straight regarding this particular policy with Bob Roark is https://www.linkedin.com/in/robinjroberts (Robin Roberts), CEO of https://ppnb.com/ (Pikes Peak National Bank). She explains why confirming one's identification is critical in securing one's money and financial information. Robin emphasizes why this simple action promotes better relationships between you and your bank.  --- Watch the episode https://youtu.be/KgF3waxUreg (here) Robin Roberts: The Reason Behind Banks Asking For ID All The Time  Have you ever wondered why banks sometimes do things that are not quite clear? In this series, I have Robin Roberts. She's the CEO of https://www.ppnb.com/about/ (Pikes Peak National Bank). She's here to demystify why banks want to see your ID again. You go, "Why would they want to see my ID? Don't they know me?" I thought it might be useful to talk about that process from the bank's perspective. Enjoy.  --- I got back from my bank. As always, I want to take some funds out and they wanted to see my ID again. I can't tell you how many times they've asked. Pretty much, it annoys me almost every time. Robin, why do they ask? Robin is the CEO of https://www.ppnb.com/about/ (Pikes Peak National Bank). She gets asked this question all the time so we thought we would answer it. Go ahead, Robin.   [bctt tweet="Banks are protecting not only your money but also your financial identity, social security number, and all other personal information. " via="no"] I get more customer complaints about the fact that we asked for their ID than any other customer complaint. It boggles my mind. We are protecting your financial information and access to your accounts. For most people, that's either the most important thing to them or the second most important thing to them after their family. There is their money. I always equate it to when someone goes into a liquor store or they go to a restaurant and the bartender cards them, they feel so flattered like, "I must look young. Someone asked me for my ID. He must have thought I was under 21." You know that's not why they asked for the ID. They're flattered when the bartender asked them for their ID.   We're protecting not only their money but their financial identity, their social security number, date of birth, all of their personal information. They get irritated when we ask for an ID. Often I get, "Don't you know how long I've been banking here?" "I do know how long you've been banking here but the new teller doesn't." Banks have new tellers all the time. It's an entry-level position in our industry. Usually, good tellers get promoted so then you're going to have a new teller. The new teller doesn't know you and they better be asking for your ID because what if you're going through a divorce and your soon-to-be ex-wife is trying to access your accounts. We need to look at IDs to know who's authorized to have access to this and who isn't.   It's not optional, isn't it?   [caption id="attachment_5903" align="aligncenter" width="600"] Asking For ID: Banks need to look at IDs to know who's authorized to have access to the account and who isn't.[/caption]   It's not optional. If the bank allowed someone to take money out of your account and didn't ask for an ID, I can promise you you’d be complaining to me. It's the opposite side. It's not about us trying to create inconvenience for you. It's not about us not knowing who you are or appreciating your long-term relationship with us. It's us doing our job. We're protecting your financial information, your financial identity and access to your money. Please give us your ID. You could thank the teller for asking because they are doing...