Identification for opening savings accounts

lipidicman

Hi there

I have lots of savings accounts, reg saver and ISAs. However I usually only just manage to settle the Identification requirements and failed today at HSBC

I can do the proof of address (current account statement) but I have no passport, drivers licence or photo debit card. Because I work dont have any benefit ID. I dont need a passport at the mo and so I dont want to pay for one

Usually banks and bs's take my debit card and statement as ID and my electoral role lookup as proof of address. I also have photo ID for work and can provide my P60. However this wasnt good enough for HSBC. I realise that they must they must adhere to the regulations, but are they saying that four other big name banks and bs's flouted them?

Anyone else ever have similar problems?

dunstonh

Usually banks and bs's take my debit card and statement as ID

Which is not satisfactory for money laundering purposes.

I also have photo ID for work

No longer satisfactory

and can provide my P60

Yes, a P60 or inland revenue notification is satisfactory for personal identification.

However this wasnt good enough for HSBC. I realise that they must they must adhere to the regulations, but are they saying that four other big name banks and bs's flouted them?

Banks have been accused of not following the money laundering requirements as well as they should have. Indeed, I recall one was fined not too long back for failures. However, there is also the issue that some bank employees do not know what is actually required.

Inland revenue tax notification, P45, P60 are acceptable for evidence of name. Although not evidence of address.

lipidicman

But HSBC would not take my P60 and I dont have a tax notification - can I get one?

As for the other banks, they checked with the account manager and took photocopies of the documents so I think they were following the rules OK.

To be honest I might just try a bigger branch of HSBC and ask to speak to an account manager rather than counter staff

dunstonh

But HSBC would not take my P60 and I dont have a tax notification - can I get one?

Although the P60 is acceptable legally. It may be that the HSBC have decided to be more stringent. The guidelines state a minimum standard and the HSBC could have decided that they dont want to accept P60s.

Every employed person gets an inland revenue tax notication around February time. It tells you what your tax code is going to be next tax year.

mary

If you don't have a IR Tax Notification of your code, give your local office a ring, and ask them if they will send you a duplicate of the latest one they have for you. If you tell them why, I've usually found them quite friendly!

Also ask the bank which forms of ID they want.
A suggestion, birth certificate, marriage certificate or even if you have kids, I've used the Child Tax Credit Notification which seem to come out by the bucket full!

dunstonh

A suggestion, birth certificate, marriage certificate or even if you have kids, I've used the Child Tax Credit Notification which seem to come out by the bucket full!

None of these are acceptable for personal identification i'm afraid.

The list is:
Passport
Driving licence
Firearms certificate
State pension or benefits book/letter
Sub-contractors certificate
inland revenue tax notification (p45/p60 or notice of coding).

With evidence of address, then there should be no problem as the a lot more is acceptable, such as:
utility bill
council tax bill
home visit
solicitor letter
electoral roll check (often done as part of the credit check)
MOST RECENT mortgage statement
local authority rent card
bank/b.soc/credit union statement/passbook
driving licence (if not used for personal identification)
station pension, benefits book or notification letter

Fatboy_NSS

Part of the confusion is that there is actually no set list. Each bank comes up with their own list of what is acceptable and what isn't. For example Abbey will accept a bank statement with the card as proof of name (listed above as not acceptable) but won't accept a P45 or P60 (listed above as acceptable). If you're having problems with HSBC ask them for a copy of their acceptable ID list, then you'll know what they can and can't accept.

Edit: typo

dunstonh

Part of the confusion is that there is actually no set list.

The list i made was taken from the generic list of acceptable items which is accepted by all financial services companies taking business from IFAs.  This includes insurance and accounts.

For example Abbey will accept a bank statement with the card as proof of name (listed above as not acceptable)

Now thats silly on Abbey's behalf as that is certainly not acceptable.   The other bank may have been opened up illegally or before the current money laundering guidelines were in place.   However, i notice that RBS will accept a debit card but not statement on their list of acceptable items.  (also they wont take a P60/P45 but will take a IR Tax notification)..  Norwich & Pet B/s matches the generic list.

The FSA stated in discussion paper 22 (under 5.2) that there is a considerable diversity of practice amongst firms.  Partly due to differences in risk profile and in risk management.    

So, some may accept items which are generally not accepted elsewhere and accept the business risk that goes with that.