One of your banker’s daily roles is to monitor activity and ensure nothing weird or fishy happens to your account. One main way that these professionals accomplish this is by asking questions about the how and why behind certain transactions.
But, if a person is making a transaction like withdrawing a large sum of money or depositing a massive check into their account, it’s important for the financial institution to ensure that this person is safe and in the right state of mind.
If you’ve been asked about particular actions from a banker in the past and didn’t understand why, or if you’re hoping to better understand how your bank operates, you’ve come to the right place. Let’s look at why it’s important for bankers to ask patrons questions and discuss the typical types of queries they may require.
Why Banks Ask Customers Questions
First and foremost, it’s important for people to understand that the primary goal of asking bank users questions about unusual transactions is to keep them safe. Typically, bank employees ask these probing or detailed questions when a customer makes a request that seems unusual based on past activity, like wiring a large amount of money.
A banker’s intent is to help them avoid losing funds due to fraud and scams. It’s never meant to pry or judge, but to protect customers and their money, similar to a doctor asking medical questions during an exam or procedure.
On top of protecting users, all financial institutions have a legal duty to ask questions to ensure there are no unlawful issues or money laundering occurring within their branches. A financial professional would never assume illegal activity is occurring. But, if a problem does arise, then the bank must be held responsible for a situation that could have been avoided, often resulting in fines and penalties. Customers trust banks with their money, and, in return, the bank must be able to trust that nothing unpermitted is taking place.
What Types of Questions Do Bankers Typically Ask?
Bank professionals generally only ask customers questions when a service requested seems out of the ordinary for that particular individual’s history. Most often, wire and cash exchanges are the common cause for questioning.
While these questions may seem overly personal, it’s part of the banker’s job to look out for their customers’ best interests, including the protection and usage of their assets.
If a customer is actually put in a difficult situation and is the victim of coercion or a scam, these types of conversations would be an opportunity for the banker to help protect this person and their money.
Bank Midwest Has Your Back
At Bank Midwest, our employees are trained to identify weird activity or concerning actions and handle them to protect the patron and their financial assets. We work to ensure every person has the support they need against scams, blackmail or any other compromised situation.
If you’d like to learn more about the security protocols we uphold or have a conversation with one of our employees, contact us today