Why do the AA/HBOS insist you give personal information for savings account?

dougz_2

i.e https://www.bmevolution.co.uk/anonymous/savingsappform/savingsappform.asp?accounttype=512&brand=theaa

Their application form says it is mandatory you tell them your nationality, occupation, and how you came by your funds. No other savings applications seem to even ask for these things, let alone say it is mandatory. What business is this to them? What do they intend to do with this extra information? Maybe so the whole massive HBOS/Lloyds/whoever/etc group can spam you with junk mail targeted to your answers?

Jonbvn

To prove that you are not a money laundering mafia don!

dougz_2

It can't be that because it goes beyond the standard ID stuff all the other firms ask. Fair enough if was an application for credit, but seems a bit excessive for a savings account. I wonder if you say you are a Kittian Cat Breeder they spam you about pet insurance?

Curiously they seem to have dropped the last "mandatory" question from the updated form just today so it can't have been that important to them.

esbo

HBOS don't want your money, They have plenty of their own :rotfl:

It is just stupid rules dreamt up by the government to bankrupt the country.

A banking crisis and people are stopped mouting money in the bank - you could not make it up!!

I heard the credit crunch started when the banks started cracking down on 'money laundering'.

If you have money these days you are assumed to be a criminal or terrorist.