Scotiabank Update: Video Conference Identity Verification
Scotiabank has updated its position on Identity Verification for video conferencing during the COVID-19 pandemic. A notification has been included with its recent solicitor instruction packages. Full version is attached below.
Excerpt:
If you have been instructed by us and you/the borrower(s) prefer to sign mortgage documents via video conference, identity verification using video conference is acceptable. In this case:
You must view one of the identification documents listed in Appendix A of our solicitor requisition and a second document that contains the customer’s name and address. This document can be another document listed in Appendix A (containing the customer’s name and address) or a property tax bill, utility bill, account statement from another financial institution showing the full account number or similar. You cannot use a provincial health card for identification purposes where prohibited by legislation.
When verifying identity, copies of the identification documents to be used must also be provided to you before the video conference appointment. Viewing such documents through the video conference alone is not sufficient.
If you determine that using a video conference to sign mortgage documents is permitted under the laws of your jurisdiction and your professional obligations, this process must allow you to complete all of the requirements set out in our solicitor requisition (subject to the advice above regarding identity verification). As this is a rapidly evolving situation, this communication may change at any time.