Is this normal: Employment verification

[edwardalex]

I know employment verification is normal but i recently applied for a line of credit at scotiabank and was approved on the spot for the amount i requested. The approval was contingent on employment verification so I was asked to submit my pay slips. I sent this in and I learned that they also called my employer to verify my income. They called me and requested my last 2 years notice of assessment after too.

I sent all this in but is it normal for them to ask for all of this, i expected the pay slip and a call only.

[sslinn]

Yes it is normal. The lender is mitigating their risk.

[TrevorK]

An unsecured credit is not tied to an asset, so they are basing your approval on your financial situation, which includes your current income and past income.

When I got my first line of credit, 8-9 years ago, I was told I was approved provided I could show I had been working full time for at least a year and my income was at least $35,000. Which I then had to bring them proof of.

[doc50]

I know employment verification is normal but i recently applied for a line of credit at scotiabank and was approved on the spot for the amount i requested. The approval was contingent on employment verification so I was asked to submit my pay slips. I sent this in and I learned that they also called my employer to verify my income. They called me and requested my last 2 years notice of assessment after too.

I sent all this in but is it normal for them to ask for all of this, i expected the pay slip and a call only.

Thats a little over the top. I am a personal banker...not at Scotia though, and have never gone that far unless there is something that makes me suspicious with the income verification that was provided.