Account privacy question

spoiltchap

Hello, new here so I hope this is an appropriate place for this question.

My wife recently opened an account with the Halifax.
They would not accept a mortgage statement we have with them as proof of identity/address.

My wife brought in our joint account details instead - one that we have with another bank. She assumed they would photocopy the first page since it was only as proof of identity.

Instead she was told that "legally we have to have a copy of the whole staement because it says 'page 1 of 4' on the front"

My question is - is this true? Does the Halifax have to copy the full staement of a joint account, all my/our transactions, debits, who I work for, items I've bought, places I've been?
I feel that my information has been stolen. There's nothing to hide in the details I simply feel it is none of their business, it was for my wife to open her own account and nothing to do with me or my information.

Any advice on this? Is it something they are legally obliged to do and where does the information go?

Thanks!

atush

She should just give statements on something else that doens't have your name on it if you are worried abt your privacy? They have to have ID verified for the money laundering regs. Only the bank sees it, no one else.

I know it seems harsh, but if that is all she has in her name..............

spoiltchap

Thanks, you're probably right, maybe it's not a big deal.
I still don't understand why they have to copy 4 pages of a statement instead of just the top page
which has the names and address and the totals of all money in and out - surely that's enough?

atush

Don't you have statements on another acct with only one page?

I used one of them as my OH didn't want me giving our 20 pge joint acct statment over lol.

qpop

I don't understand what value people presume the bank would put on this kind of transient information?

To be fair often there is a fundamental misunderstanding of the money laundering requirements on the side of the bank staff, and you can (for example) provide a current tax year council tax bill, if you don't want to provide a bank statement.

Proof of identity

The law says banks and building societies have to identify new customers. This is to help stop criminal activities like money laundering. Firms will explain which documents they will accept as proof of your identity, although this may vary from one bank or building society to another. Some firms will check databases such as the electoral roll and those kept by credit agencies. But most will ask you for documents. They may ask you for a government-issued document:

• with a photograph – such as a valid passport, or
• without a photograph – such as a valid old-style driving licence – plus another document from an approved source.

If you don't have these documents, they may accept other documents such as:

• a letter from a government department or local authority confirming a right to state benefits
• suitable confirmation of identity from a young person's workplace or educational institution, or
• a letter confirming a person's identity from a care-home manager or warden of sheltered accommodation or a refuge.

Further options may be available if you are an international student, migrant worker, refugee, asylum seeker, prisoner or on probation.
If you’re opening a basic bank account, check the list of ID and vetting requirements to find out which documents you will need to prove your identity.
You may also be asked to prove your identity if you make a large cash withdrawal or debit card transaction. The bank or building society will probably copy or make a note of the details of the identity documents. But they must protect all personal data.
To find out what each bank will accept as proof of identity you can check on their website or ask the branch staff.

http://www.moneyadviceservice.org.uk/yourmoney/everyday_money/bank_accounts/types_of_bank_account/current_accounts/opening_an_account.aspx


They are bound by the data protection act in terms of what they can do with the information, so I really wouldn't worry too much.