AI issues with big banks
Not quite an investi gquestion, but same basic crowd i suspect. Recently I have had 2 cheques reversed by my bank. These are me to me cheques, from my business to myself.
The first one was reversed because of the name on the cheque. My bank account has my formal name on it. Sometimes I write cheques to "Joseph Smith". Sometimes to "Joe Smith". It's not something I even do consciously. I had a cheque reversed that I wrote to "Joe". Not the name on the account I was told. Same bank. 20 years. I have no idea how many cheques I've written each way but suffice to say a lot to both. Never had an issue.
The second was reversed because my signature was not a close enough match to whatever signature card they have on file.
The first one I can fix. Make it out to my full name. The second one is a problem. I've been signing my name on cheques for 40+ years. Never had an issue. Signature has never really changed either. But it seems I am going to have to go into the bank to cash cheques rather than the ATM and that's a significant inconvenience most of the time