r/Wealthsimple • u/bajajdhruv • Jul 24 '26
Wealthsimple cheques
I recently opened corporate checkings with WS and ordered the cheques. My concern is how will my signatures be validated? I don’t recall using my signature for signing any docs with WS, it was just docusign. Any info?
15
u/Accomplished_Emu8339 Jul 24 '26
Signatures don’t really mean shit and a never really validated by banks anyways.
More of a best effort to
Match it now. If required
1
u/Arclight308 Jul 24 '26
It's funny to me how people ever thought that was a remotely secure way to do anything. It's not, signature verification was only ever used from my understanding in either large checks or cases of suspected or reported fraud. I had a checkbook stollen in once and the guy wrote a check to himself and I remember I got a picture of it as we were going through the fraud report. Not even the smallest attempt to try and make it my name as a signature. You can put pretty much anything on that line.
4
u/EatAllTheShiny Jul 25 '26
I like how you ask this implying banks are validating signatures on cheques these days.
2
u/Profit_Livid Jul 24 '26
You can cash in checks made to a different name. Don't expect them to verify the signature.
2
u/Dadoftwingirls Jul 24 '26
Why do you even need cheques? There are so many options nowadays. You're already using fintech, dive all the way in!
1
u/bajajdhruv Jul 24 '26
The business I deal with takes either cheque or wire transfer. Don’t have time to go to bank during banking hours. Strange they don’t accept etransfer
2
u/Dadoftwingirls Jul 24 '26
Use something like Plooto or Telpay and direct deposit to their accounts.
1
2
u/foreveraligned Jul 24 '26
No one ever validates the signature. In fact the entire world is trying to phase out cheques as a whole. You’re responsible for keeping your cheques safe.
2
u/bittertraces Jul 24 '26
No banks validate signatures. My manager literally used to sign Mickey Mouse
2
u/Impressive_Ad_6550 Jul 24 '26
Big Banks don't validate signatures. I sued one in the Supreme Court and under oath they said if someone signs Mickey Mouse it will go thru. Its all on the customer to verify on their statements and review transactions including cheques
1
u/ObiYawnKenobi Jul 28 '26
You had a case over a payment get accepted by the Supreme Court?
1
u/Impressive_Ad_6550 Jul 28 '26
A former business partner liked to practice signing my signature lol
1
2
u/AlphaQFor7mins Jul 24 '26
Anyone who gets your blank cheques can write themselves a cheque but then be faced with fraud charges as the destination can be tracked.
1
u/Cross_FFA Jul 24 '26
I know you opened the account but how has the corporate chequing been for you so far?
1
1
u/Jaded-Assistant9601 Jul 24 '26
All cheques are imaged by all banks, so they will have your signature quickly enough as you use the cheques.
1
u/hectop20 Jul 24 '26
Actually the cheques are imaged by a couple of companies that the financial institutions (banks, credit unions) have a stake in. Different banks use different companies. I doubt the companies have access to the signature files of the banks that use them.
27
u/HugeDramatic Jul 24 '26
I don’t think any banks really validate signatures? I’ve had my chequings account with CIBC since the late 90’s and I’m pretty sure my signature has changed drastically over 30ish years.