Remember this subject matter which was featured on this blog some weeks back? Click Here To Access The Article - A Call for Help- The Cheating Bank (The Staff’s report to us)
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The bank (name withheld) have responded to this allegation. The lesson learnt from this story is major. Just before you append your signature on any document, be sure to have read it carefully, understand the terms and conditions and when you don’t agree with its content, please do not sign.
This issue has gotten so many innocent bankers to prison over offences they knew nothing about. Simple things as executing KYC (Know Your Customer) and other internal banking documents are very critical.
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This issue was resolved in less than 10 minutes. When ibank took the issue that was reported to the bank, the representative simply brought out the TOD (Temporal Overdraft Form) form which has a column for the Account Officer and the Branch Manager to execute. As part of the conditions included in the form, it was stated that TOD was an informal facility to the customer for which the initiators of the request will bear any risk or damage that comes with the facility. In other words, that phrase meant that in the case of the facility crystalizing/going bad, the initiators of the facility will have to pay. In this case, the initiators were the Account Officer and the Branch Manager. This simply closed the case.
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Please when next you are given a document to sign either in the bank or anywhere, it is advisable to take out time to read through before executing it.