Money Laundering Regulations

steves_3

Hi,

I was wondering if you folks could help me out here. I'm currently in the process of opening some new bank accounts, and as usual I have to comply with the Money Laundering regulations by supplying ID and some proof of address. Fair enough.

Now whilst this is easy to do if I can get to a branch of the bank in question, with postal/internet accounts it's a different matter. I can't send my passport/driving licence through the post, so I need to send a photocopy. The banks require that the the copy is certified by a bank or a solicitor (at least ICICI do).

Now I know that HSBC at least have a policy of not certifying the photocopy if you're applying for accounts elsewhere, and I'm not going to pay a solicitor just to open a bank account!!!! So how do I get the darn things certified so I can open the accounts?

Any tips? Any banks that will stamp the photocopy?


Cheers

Steve

dunstonh

Any banks that will stamp the photocopy?

The person signing it takes on a legal liability for doing so. Many of the professions that are allowed to certify documents have stopped doing so because of that liaibility or will only do it with a charge attached to it to cover the cost of that liaiblity.

No other bank is going to certify a copy for a non-customer. That leaves you with a doctor (who will probably refuse or charge), your IFA (if you have one), schoolteacher (who you must know) or accountant (if you have one). There are a few others accepted.

steves_3

Thanks!

That says what I thought, I don't know anyone in the above categrories, so basically I can't open any accounts at non-high street banks.

A bit of a kick in the teeth for internet banking etc isn't it? There must be loads of people in the same boat as me. Maybe the post office should provide some kind of service for authenticating documents?

Cheers

Steve

Oracle_2

Hi, I have a Nationwide flex account.... and they state that they certify documents for no charge. I tried it for an ICICI account and had no problems.

They did ask what is was for..... though I politely declined to answer! I don't know if any other bank offers this service for free.

Bossyboots

dunstonh wrote:

The person signing it takes on a legal liability for doing so. Many of the professions that are allowed to certify documents have stopped doing so because of that liaibility or will only do it with a charge attached to it to cover the cost of that liaiblity.

No other bank is going to certify a copy for a non-customer. That leaves you with a doctor (who will probably refuse or charge), your IFA (if you have one), schoolteacher (who you must know) or accountant (if you have one). There are a few others accepted.

What liability attaches to a person who certifies a document to be a true copy?

jonnyb

There are online options for the banks to use, supplied by both Experian (who I work for) and Equifax, and probably CallCredit.
I know it won't help in this case, but I thought it might be useful info. You could highlight it to the bank as an option.

Stompa

I've opened numerous accounts, and have always proved ID using utility bills, credit card bills, banks statements etc., without any problems. Just as well since I have neither a driving licence nor a passport.

Stompa

Extractthecash

I believe you can get your passport certified at the post office, don't think its too expensive...

mr_fishbulb

I opened an Alliance and Leicester account at the end of last year and I didn't have to send in anything. Did it all on the internet and it didn't ask for ID.

Only ever been to an Alliance and Leicester bank once, and that was to use the ATM outside to change my PIN.

dunstonh

Bossyboots wrote:

What liability attaches to a person who certifies a document to be a true copy?

I cannot remember the specifics but we were issued a warning some years back that if a certified copy of a document is used fraudulently or in the cases of money laundering, the person that certified the copy could face prosecution for aiding in money laundering if it was found that adequate checks were not done to correctly ensure that the document being certified was genuine.

steady__eddie

In the past, I have used a reverend and a J.P. for verification purposes without any probs. Skipton in their literature state, "In order to verify your identity face to face we will use an electronic verification system" I am aware that Yorkshire B.S. operate in this manner because when I opened an a/c. with them a few years ago, I did not show up on the electoral register. I was asked for my previous address (which was 3 years out of date) I gave that and "Computer says yes".
For what it's worth, if anyone who has "proof of I.D. probs" wants to open an I.S.A., then there isn't a problem because the PEP & ISA Bulletin number 10 published on 27/03/03 by the Treasury (I believe it was) recognises that some people may have difficulty in supplying an address so in this instance a care of address is acceptable. It is obviously easier to launder £7k straight off than whatever your salary is on a monthly basis. The drawback is however that you have to travel pretty high up the bank/Bldg. Soc. food chain before you reach someone who recognises the aforementioned publication for what it is and not a contender for this years Booker prize for fiction.