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Why is it so hard to open a bank/building society account?

Discussion in 'General Chat' started by Stuart Wright, Aug 12, 2005.

  1. Stuart Wright

    Stuart Wright
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    We want to start a couple of cash ISAs and an accompanying savings account.
    We don't want to borrow any money, we don't want a chequebook or cash card. We want to save some money.
    Today we went into Abbey and Halifax to open these accounts, ready with chequebook to pay in some money. Could we open an account? Could we ********!
    Because neither of us have current passports or driving lisenses (one is lost and the other has our old address on it), they couldn't take our money.
    Pathetic. :mad:
     
  2. Setenza

    Setenza
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    Stuart, it really comes down to the increase in fraud that banks and building societies have had to endure over the last 5 years.

    It's a pain in the back side and I totally agree with you but these organisations need to ensure that you are who you say you are and aren't laudering drug money, stealing someone elses identity or carrying out some elaborate fraud.

    I have several friends within the financial industry and despite the public, "we'll help anyone" byline, most of the big banks have policies of proactive discrimination against certain demographic groups or geographical areas that have high fraud statistics.

    Of course, they won't say this publicly.
     
  3. GrahamC

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    Which makes the coming I.D card mandatory instead of the governments line off voluntary. In by a lie as always.
     
  4. The Dude

    The Dude
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    I've had similar fun lately.... I've been using the same Umbrella ltd company for 5 years to handle my contracting invoices, every member of the payroll staff there recognise me instantly by voice.... they have my NI number, my bank details, my (unchanged)home address, and to top it off they've been handling all of my tax and NI payments since late 2000...

    and then last month, they sent me a letter saying they can't process any further invoices on my behalf, until they have recieved a passport photograph, a utility bill, and a copy of my driving license, all countersigned by Police/magistrate/Solicitor etc...!

    It's all to do with some anti money-laundering legislation that came into force last March apparently...? yet they were quite happy for me to be laundering money for over a year.....!
    Im guessing somebody has started feeling a few collars after July 7th ?
     
  5. Kenny Glasgow

    Kenny Glasgow
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    Banks have to comply with the Basell II regulations and the Anti Money Laundering regulations, as do any business for every customer who have cash transactions of 8,000 Euros per annum

    Most of the high street banks are moving to electronic Identification from Experian which negates the need for photo ID and household bills, known as 1+1 or 2+2
     
  6. oxygenuk

    oxygenuk
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    all about security.

    now think, where would we be now without good security in banks?
     
  7. stevegreen

    stevegreen
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    :laugh:

    On a similar note.

    I wrote to my bank (Abbey) to notify them of my change of address as there is no branch in the area where I work. A few days later, I got a letter to the new address saying they couldn't change my address without some personal identification.

    :laugh:
     
  8. pjclark1

    pjclark1
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    I have often wondered why they insist on CURRENT documents, after all nobody would forge an out of date passport or driving licence, so an out of date, is more likely to be real. It still has a photo in it.
    They don't worry about birth and marriage certs, and you can order those from the GRO (anyone's you like) online for £11.
     
  9. stevegreen

    stevegreen
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    Stuart, If you'd like to pop the money round mine, i'll look after it for you :devil: :laugh:
     
  10. oxygenuk

    oxygenuk
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    this reminds me of trying to signup with blockbuster a few months ago come to think of it.

    even though im never gonna try that again, damn
     
  11. Johan

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    Funny the guy who defrauded me on eBay, I transferred the money into his account, apparently used forged documents to open his RBS account.
    Maybe you should send him a mail for help Stuart.

    Johan
    Btw RBS dragged their heels and was not very cooperative with the police investigation, funny business!
     
  12. Astaroth

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    Johan - to be honest the police can be a pain the arse when trying to 'investigate' issues. I have dealt with a number of fraud cases over the years and the police in all of them kept phoning for information when they knew we couldnt just provide it over the phone.

    There are formal processes between the police and banks/insurers etc for the exchange of information and whilst they make damned sure we follow their rules they forever try and avoid them. Most of it is very basic like sending a data protection release form and I am sure fate would have it that if we did by-pass the procedures it would be the same officer that would then investigate us for breach of the data protect act etc.

    As others have said, banks now have strict rules to follow to prevent fraud and money laundering. Some used to be a little lax over it but when Natwest was heavily fined for not retaining the documents correctly (from before intergration into RBS) everyone then started taking them much more seriously.
     
  13. Garrett

    Garrett
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    Think that’s stupid my mother went to close and account with a bank and open a new one with then because of their policy of making old accounts pay less and less interest so they make more profit because some people never bother.
    Anyway she could not open an other account until she brought proof of her identity although having an account with them.
    They said it was because of bank fraud.

    Goodness sake she had an account with them how ******* stupid is that.

    Swearword edited by Garrett before posting. :D
     
  14. richjthorpe

    richjthorpe
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    Further to this, I went online to change my address details with HSBC. All worked fine with new statements and cc bills coming to the right address, but for some reason the interest on the current account was sent on a different statement and to my old address ! How does that work if it's the same company ?!
     

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