SCOTIABANK Jamaica says it is very pleased with a policy that requires two valid identifications from non-account holders to cash a cheque, despite being the only commercial bank to have such a requirement.

Scotia, in response to a Business Observer query, said the policy was implemented October 2008 “…in response to the element of risk associated with fraudulent IDs which are quite prevalent… The requirement for two pieces of ID is intended to reduce or eliminate this risk.”

The two IDs needed are among a valid picture identification, such as a passport, driver’s licence or voter’s registration card, and a Tax Registration Number card.

According to Scotia public relations specialist, Simone Hull, the policy has been very successful since implementation.

“Our branch managers are very pleased with the policy as they noted that it has been effective in reducing the risk of fraud and has served as a deterrent to potential fraudsters who may be thinking of cashing fraudulent cheques here at the bank,” she said.

However, Scotiabank is the only commercial bank that requires two identifications from non-account holders to cash a cheque. The Business Observer conducted a survey among other commercial banks in Jamaica — National Commercial Bank, FirstCaribbean International Bank Jamaica, RBTT Jamaica and First Global Bank — and all said that they only required one piece of identification to conduct the said transaction.