Money Laundering/Credit Documentations for Post Office Application?

Bushboy

I applied for a Post Office credit card a couple of weeks ago and a couple of days ago have received a letter saying they're processing the application but I have to provide some more documentation which can either include a copy of Driving License,Passport, Bank statement etc.

Is this a new procedure across companies?
I usually tart and change cards every other year but have not had to provide this information before.
It's usually been a confirmation signature, never any documents to send off.

Cheers
B.

simon_templar_2

They are required by law to verify your identity by means of acceptable ID.

Moggles_2

Most credit decisions are computerised and lenders (including the Post Office) give instant decisions and credit limits without the need for documentation, provided that you have a good credit history and your ID and can be verified electronically via the credit reference agencies.

Have you moved since submitting your last application?

simon_templar_2

AML policy is largely based on guidance that banks etc receive from The Joint Money Laundering Steering Group (JMLSG).


The JMLSG is made up of the leading UK Trade Associations in the Financial Services Industry. Its aim is to promote good practice in fighting financial crime and combating terrorism and gives practical assistance in interpreting the UK Money Laundering Regulations and driving the implementation of a risk based approach. This is primarily achieved by the publication of guidance notes, which are regularly updated to reflect changing circumstances.

Documentary evidence to satisfy impersonation checks are needed. The OP should send the Post Office what they need otherwise they wont get the account the applied for.

naijapower

It is normal practice by Post Office to ask for ID....i think. Cos i knwo 2 people that were asked to provide ID.
However, i am sad to say they were both declined even though their ID were satisfactory. Also, they were both surprised that online verification wasnt done as they could both be verified online

Moggles_2

naijapower wrote: »

It is normal practice by Post Office to ask for ID....i think. Cos i know 2 people that were asked to provide ID.

That's hardly statistically significant, is it?

I applied for the Post Office card and got instant acceptance and credit limit.

naijapower

Yes it is statistically significant cos it was the experience of two applicants i know personally. Your case is just one case and i know two cases. Hence it ratio 2 to 1.
I have to add that there credit was okay. However, this happened in Nov 2007.
Maybe things have changed since then

Moggles_2

naijapower wrote: »

Yes it is statistically significant cos it was the experience of two applicants i know personally. Your case is just one case and i know two cases. Hence it ratio 2 to 1.

You're kidding. That's about as logical as:
two of my mates spent a sunny week-end in Ireland, therefore Ireland isn't wet :rolleyes:

However, this happened in Nov 2007. Maybe things have changed since then

Yes, agreed. Things do tend to change over time

naijapower

Moggles wrote: »

You're kidding. That's about as logical as:
two of my mates spent a sunny week-end in Ireland, therefore Ireland isn't wet :rolleyes:
Oh yes, i am kidding....lol


Yes, agreed. Things do tend to change over time

Of cos it does..................................life is a roller coaster