December 12, 2009
... so TD is notifying me about their updates to the structure and content of the various agreement(s), which will take effect on March 2, 2020 ... Looks like onboarding Verified.Me will be opted-in by default.
Appendix 1 - Changes to the Cardholder and Electronic Financial Services Terms and Conditions.
Any news from the other banks ?
PS - I noticed that Equifax is listed as one of the Network Participants on Verified.Me. Could the recent B2B/Equifax experience be a norm to come ?
Absolutely. Services like SecureKey's Verified.Me and Flinks KYC verification service that Oaken and EQ Bank use will become the norm. There may be opt out mechanisms, but eventually, these will be the only way to add linked external bank accounts or open virtual bank accounts; thus, to open a new account or link additional bank accounts, you'll have to opt in.
Government of Canada, the House of Commons, the Senate of Canada, and private industry have endorsed these initiatives. The industry is even trying to get the provincial governments and federal government to create a centralized database of our drivers' licenses and provincial identification cards that they can tap into to verify our identity, like the current credit bureau system. I'm opposed to that, so services like Verified.Me and Flinks are pretty innocuous by comparison. I'll take them.