How much personal information should we give to banks ?

flossy_splodge

We always have been a lazy nation and nowhere more so than in standing up for our rights. :eek: It is after all so much better to moan behind our hands than to stand tall and deny erosion of our personal liberty.:o
I applaud those that have stood up and said no.:T
For those that sadly think there is no point, I can assure you that on a number of occasions I have challenged the validity and appropriateness of 'required actions' and have, through logic, got changes made - last one was my fathers local council who were 'just doing what the system required' and when I challenged the logic of the process, admittedly I had to go the CEO to get any sense, the process was changed. As it should have been as it was faulty.
No biggy, but each and everyone of us CAN make a difference if we bother.
But we have to bother.:T

willo65

Consumerist wrote: »

Do Tesco and Morrisons collect personal information which could be used by a fraudster to impersonate you ?

So the bank knows your DOB, Your full name, current and previous address, ALL transactions in and out of your account, but you wouldn't trust them to keep any more information about you?? GET REAL the bank isn't going to print your details on the front of a newspaper.

Consumerist

willo65 wrote: »

GET REAL the bank isn't going to print your details on the front of a newspaper.

It may well just discard it without shredding, however. NatWest have been exposed for this kind of thing before.

But you have avoided answering the question: Why do they need this kind of personal information for the purpose of applying for an ISA ? How will they verify its accuracy ?

I suspect you don't have an answer at all.

Are you a banker (past or present) ? Are you just singing for your supper ?
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brightonman123

is there an option for 'other', on each question? just to fill ther databases with useless info!

Inactive

willo65 wrote: »

So the bank knows your DOB, Your full name, current and previous address, ALL transactions in and out of your account, but you wouldn't trust them to keep any more information about you?? GET REAL the bank isn't going to print your details on the front of a newspaper.

The banks do not have a good track record with keeping customers information secure, they should only be allowed to insist on the information that is required to act within the law, no more, no less.

I applaud the OP's stand on this issue.. :T

Consumerist

brightonman123 wrote: »

is there an option for 'other' . . .

I make use of that 'Other' option where available but it's more usual for this option to appear when asking questions like: "Where did you hear about us?".

Unfortunately, no such option was available when applying for the NatWest cash ISA.

There seems to be no way to get past the page where the questions appear unless they are both answered using one of the options presented.
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harz99

:huh: It's quite simple really - you want to do business with a company (banks included) then you accept their terms, or if you don't accept them take your business elsewhere.

Every company is entitled to set their own terms and conditions of business within the laws applying at the time. If these terms and conditions then become a bar to trading profitably, the company will change them. Natwest clearly have many customers who are not as exercised as the Op about their T&Cs so nothing is going to change. Move on.

chesky369

Well, I had an instance of how barmy this can all be recently. An elderly lady - 85 - came asking for help to apply for a passport (£75). Going abroad? No, the man in Nationwide where she was applying for a current account, said she HAD TO have either a passport or a driving licence! At 84. Tried calling on her behalf - they absolutely would not budge. What could she get without either? A basic one with no debit card which would NEVER change, however long she had it, unless she got a passport (or DL) when it could be upgraded.

Kavanne

chesky369 wrote: »

Well, I had an instance of how barmy this can all be recently. An elderly lady - 85 - came asking for help to apply for a passport (£75). Going abroad? No, the man in Nationwide where she was applying for a current account, said she HAD TO have either a passport or a driving licence! At 84. Tried calling on her behalf - they absolutely would not budge. What could she get without either? A basic one with no debit card which would NEVER change, however long she had it, unless she got a passport (or DL) when it could be upgraded.

For future reference other institutions will accept a letter from the Benefits agency or DWP as proof of ID. She can then just use a utility bill for her proof of address. If she has no utility bill, a bank statement from an existing elsewhere is OK too,

chesky369

Yup, I know others do, luckily I was able to sort her out but I remain still totally stunned by Nationwide. Nobody seems able to use their initiative any more - bring back the old fashioned local bank manager who was able to make sensible decisions.