ICICI ID checks

MaryL_3

Hi there, this is my first post here so be patient if I make a mistake!

I tried to sign up with ICICI as Martin had recommended it and ING have cut their rate only to receive an email telling me they needed a photocopy of some ID signed by my bank or by a solicitor! What??

I opened my smile bank and my ING account without having to provide anything like that.

Forget it!

baldbloke_2

MaryL wrote:

Hi there, this is my first post here so be patient if I make a mistake!

I tried to sign up with ICICI as Martin had recommended it and ING have cut their rate only to receive an email telling me they needed a photocopy of some ID signed by my bank or by a solicitor! What??

I opened my smile bank and my ING account without having to provide anything like that.

Forget it!

The difference between the online banks is extraordinary. Egg had an account open and usable within 3 hours of me filling in their application online. First Direct & ING asked for a signature and a week later everything was up and running. Capital One took so much detailed info on the application - passport & driving licence numbers - that I would have been astonished if they had delayed the account opening - all was ok within the week. But!!! Cahoot ... second time in 2 years I have opened an account with them and both times they wanted documents sent. NS&I asked for certified copies first time round which caused me to say no but this year everything was fine straight off. This money laundering business has clearly caused much scratching of heads in the online banking community. I understand your frustration completely. One rule I have learned from others - never close an account if you want your money out - leave it open with a nominal balance and look at the rates and terms again from time to time. Good luck.

dunstonh

Money laundering identification checks are a legal requirement.

Having your ID certified by a professional is a requirement if you dont want to send the original in. Certification can only happen with certain professions (more than just solicitor or bank). However, there is a legal liability when someone signs to certify a document (imprisonment is a potential outcome if ID is used for money laundering purposes) so many will not certify.

Some financial services companies operate an electronic money laundering system. I use one myself. However, about 1 in 8 will fail the check and in those cases, you need to do it the old fashioned way.

Alechjo

Yes, when I applied to ING Direct they asked for utility bill and ID, signed by professional. I asked my Uni department administrator to sign them for me, and it was all right, except that she forgot to write her phone number (it's online anyway), so they returned it back to me, I added phone number and send back again. So it took some time and effort! And now they've cut rates!

travesti

I have a similar problem with the ICICI on-line banking sytem.
I too used a ING account, but looked for better rates.
I sent the application to ICICI, and the returned paperwork was immense.
Especially with regards to the ID confirmation.
Exactly the same, get something signed by a "Professional," ?? Bank Manager, or Solicitor?
Called my current bank, they would charge £32.00 for a signature, verifying my identity (been banking consistently there for over 20 years)
Called my Solicitor, they would charge me £50.00 for a signature, to verify my identity.
All in all burned the application.
To pay out £82.00 before I have deposited any money,??
This will not happen.
ING do not go through this system, a verification of a current account was all that was necessary.
The account was opened and running in 3 days., from the application.
Taking in to conseration the differing rates by ICICI and ING, it would take quite a while to recoup this proposed outlay of £82.00.

Did send a letter, but this was not answered satisfactorily,.

rammster

I had similar difficulties with ICICI. I even took my passport to lloyds TSB (collaborates with ICICI) and had my identity verified, but the banking staff at ICICI is so crap , that they said that my passport and my application signatures dont match. That left me very surprised (apparently I opened an account with LLoyds the same day as well).
The crux of it is this, bank with First Direct or any other bank which is more reasonable and UK based. As per as ICICI is concerned my advice is to stay away from it . (its been 6 months and the account is still not open!) You can't trust such people with all your hard earned money (see Martin's pole). Stick with any other bank and you may earn .15% less interest, but the peace of mind is worth it.

innovate

When I opened my ICICI account and was asked for ID, I took my passport and a copy of it, walked into a high street solicitors' and asked them to certify the copy. Cost me £7.50, and was accepted by ICICI without further questions. I am also one of the fair number of people who has - touch wood - never had any reason to complain about ICICI to date.

Don't complain about the banks that take ID checks and their obligations under the anti-money laundering legislation serious. Instead wonder how safe your money is with the ones who don't.