Personal information when opening savings account

christabell

I recently tried to open an account with ICICI with their very lucritive interest rate. I was not able to have my passport verified as I bank with Nationwide and they "do not provide this service". My doctor has enough to do being a very busy GP, and a solicitor wanted to charge £60 for the service.
I do understand money laundering rules, but I am not going to launder money here in the UK.

dunstonh

christabell wrote:

I recently tried to open an account with ICICI with their very lucritive interest rate. I was not able to have my passport verified as I bank with Nationwide and they "do not provide this service". My doctor has enough to do being a very busy GP, and a solicitor wanted to charge £60 for the service.
I do understand money laundering rules, but I am not going to launder money here in the UK.

There is a legal liability for anyone certifying documents and a charge is not uncommon now. I would certainly charge someone who wasnt a client or I had a business relationship with.

The fact one provider is being difficult in the process doesnt reflect on the relative ease that the vast majority have in dealing with the money laundering rules.

christabell

I do understand, however I was not able to get anybody to validate my documents. I did not want to send my passport to ICICI, however they said I could just pop into one of their branches.......It's a long ride from Bournemouth.

shown73

In a similar, rather potty, vein, I tried to buy £100 worth of Euro's from the post office, and a travel agent with my Maestro bank card. No way, not without a photo drivers license or valid passport. So, off to cash machine with said card, withdraw £100, present cash, no problem. Is all this talk of moneylaundering etc. not just a handy cover for a raft of increasingly daft and intrusive "regulations," concoted by people without real jobs.

missile

Money Laundering Regs are a joke. It only cases inconvenience to ordinary honest people. It causes no problems for your street wise drug dealer and Joe Mafioso will esily find a way round this new Passport nonsense.

christabell

Please tell me who in their right mind would even try and launder money in the UK?

dunstonh

Quite a lot of people actually.

jonesMUFCforever

I agree and some people don't even know that they are doing it!!

Alechjo

If my parents put some money for me in a foreign bank, then I withdraw it using this bank's card and pay into my UK account - is this money laundering?

For the UK authorities it may look like money appear from nowhere, maybe criminal activity?

jonesMUFCforever

Alechjo wrote:

If my parents put some money for me in a foreign bank, then I withdraw it using this bank's card and pay into my UK account - is this money laundering?

For the UK authorities it may look like money appear from nowhere, maybe criminal activity?

Obviously not as you can prove where the money came from if asked.