No duplicate account numbers – Scotiabank
Published:Wednesday | February 16, 2022 | 12:05 AM
Scotiabank Jamaica is urging customers to confirm and accurately record branch transit numbers before transferring funds to avoid potential errors.
This comes following reports that $1.7 million was sent in error to a Scotiabank customer holding a similar account number to an intended recipient of the bank.
According to a report by Nationwide News Network on Monday, the error involved duplicate account numbers, causing the funds to be sent to the wrong branch.
The bank has since denied this claim, insisting that all account numbers are unique.
“There are no duplicate account numbers within our system,” Scotiabank Public Affairs and Communications Manager Danielle Savory said in a statement to The Gleaner on Monday evening.
Savory explained that “all account numbers are unique and are assigned a number that consists of the branch transit number, unique to each branch, as well as the deposit account number”.
“Both are required for the successful completion of all transactions.
“In this instance, the customer wrote the incorrect branch name on the form provided. In processing the transaction, his bank then inserted the corresponding transit number to the branch he stated,” the statement read.
It was also noted that the transaction was processed via the RTGS (Real-Time Gross Settlement) system, an interbank transfer system in which all transactions are sent using a numeric-based and fully automated process which would match the account and branch information stated on the request form.
“We take this opportunity to urge all banking customers to ensure that they confirm and accurately record the branch transit and deposit account number for their intended recipients, to avoid potential errors.”
CONTACT THE BANK
In instances of erroneous transfers, the initiating customer is advised to contact their bank where the transfer originated to formally file a report. From there, the sending bank would then contact the receiving bank.
BNS has denied liability, but has signalled its willingness to cooperate with any ensuing investigations in recovering the funds.
“At Scotiabank, upon receiving the report, we willingly collaborate with both third-party banks and law enforcement to ensure the best possible outcome for affected persons,” said Savory.