Unable to open a bank account

Interesting_Ian

Hello, first of all I already have a current account with the Yorkshire bank which I've had for over 30 years. However I'm getting rather a large amount of money in it and obviously it will depreciate in value over time due to inflation.

My personal situation is that I make all my money from gambling on football. I do not receive any benefits and I do not have any other job.

I decided to try and open a cash ISA at the Yorkshire building society (a different place to the Yorkshire bank). But there are identification requirements to be fulfilled, and although I can prove my address to their satisfaction, the proof I have for my name and identity -- Council Tax bills, utility bills, bank statements, birth certificate, credit and debit cards -- are not on their list. Their list most notably includes a passport or a driving licence, and more obscure identification such as a firearms certificate etc. But I do not possess any of these.

When I mentioned this over the telephone to them I was asked if I'm on the electoral roll. I confirmed this. The lady seemed to think this would be sufficient to confirm my identity. However when I went into my local branch of the Yorkshire building society it transpired they could not confirm my identity. The lady rang somewhere or other with my details, but it came back negative! She suggested my best bet was to try and open a cash isa at the Yorkshire bank since I have a current account there.

However when I went along there the exact same thing happened. I could not open either a cash isa, nor even a deposit account. The lady I spoke to was completely uninterested by the fact that I had a current account there. She also made a telephone call -- presumably to the same place -- but that also came back negative. I think these phone calls were what they label an "electronic check". Why would it come back negative since I'm a registered voter and have lived in my present home for the past 14.5 years??

So what are my options? Are these identity criteria imposed by the government so that even if I have had a current account with a certain bank for over 30 years, they would be breaking the law by letting me have a cash isa or a deposit account? If so then it serves no purpose in making a complaint to them. But in that case who do I complain to?

The obvious option would be to either apply for a passport or a driving license. However are the requirements to establish ones identity less stringent here than for opening a bank account? I have a feeling they'll be just as stringent!

OK so if anyone can provide any advice it would be much appreciated.

PS One final thing. A friend who knows a lot about this sort of stuff said that since I don't have an officially recognised job, then I would not pay any tax on my savings in a deposit account and hence it would be better for me to open a deposit account rather than a cash isa. Is this correct?

psychic_teabag

Interesting_Ian wrote: »

PS One final thing. A friend who knows a lot about this sort of stuff said that since I don't have an officially recognised job, then I would not pay any tax on my savings in a deposit account and hence it would be better for me to open a deposit account rather than a cash isa. Is this correct?

To answer the simpler question first... yes, you can register to receive all interest tax-free by filling in a form (R85 I think). However, right now we are in "ISA season" and the banks are offering rates to try to grab their share of the ISA money. So ISA rates at the moment are higher than the gross rates available on non-ISA accounts.

Just compare the rate you can get from an ISA with the gross rate you can get elsewhere and decide which is best. At other times of the year, non-ISA accounts may pay more.

I don't know if you have to have an "officially recognised job" to pay tax. If your total taxable income is over the threshold, you need to pay income tax. So it depends on your taxable income (which will include interest on savings).

psychic_teabag

Interesting_Ian wrote: »

although I can prove my address to their satisfaction, the proof I have for my name and identity -- Council Tax bills, utility bills, bank statements, birth certificate, credit and debit cards -- are not on their list.
...
I was asked if I'm on the electoral roll. I confirmed this. The lady seemed to think this would be sufficient to confirm my identity.
...
So what are my options? Are these identity criteria imposed by the government so that even if I have had a current account with a certain bank for over 30 years, they would be breaking the law by letting me have a cash isa or a deposit account?

It does sound like you ought to have enough to establish your identity. All I can suggest is going round the various banks and building societies until one lets you open an account. Once you have an account, that may establish an electronic presence that others will accept.

Perhaps double-check that your name is spelled correctly on electoral register ?

I think banks do have anti money-laundering rules to obey : perhaps this is what's worrying them ..? I don't know how all that stuff works.

Sceptic001

psychic_teabag wrote: »

Perhaps double-check that your name is spelled correctly on electoral register ?

Yes, I suspect either your name or address on the electoral register differs in some way and does not show up when banks do their ID check. Ask your local council electoral registration office for the exact format of your name and address on their records. Alternatively, if you have local elections in May you will soon receive a polling card which will show these details.

Interesting_Ian

Sceptic001 wrote: »

Yes, I suspect either your name or address on the electoral register differs in some way and does not show up when banks do their ID check. Ask your local council electoral registration office for the exact format of your name and address on their records. Alternatively, if you have local elections in May you will soon receive a polling card which will show these details.

OK I'll give that a shot! I've just emailed them.

Interesting_Ian

psychic_teabag wrote: »

I don't know if you have to have an "officially recognised job" to pay tax. If your total taxable income is over the threshold, you need to pay income tax. So it depends on your taxable income (which will include interest on savings).

That is not currently the case for income from gambling. It is neither eligible for income tax, nor capital gains tax.

Interesting_Ian

psychic_teabag wrote: »

It does sound like you ought to have enough to establish your identity. All I can suggest is going round the various banks and building societies until one lets you open an account. Once you have an account, that may establish an electronic presence that others will accept.

Perhaps double-check that your name is spelled correctly on electoral register ?

I think banks do have anti money-laundering rules to obey : perhaps this is what's worrying them ..? I don't know how all that stuff works.

Yes it's to prevent money laundering. And I'm assuming they're legally obliged to demand that I fulfill certain identity criteria, even if I've had a bank account with them for the past 30 years!

So I'm surmising they'd be no purpose making a complaint to them?

Interesting_Ian

Interesting_Ian wrote: »

OK I'll give that a shot! I've just emailed them.

They've just responded. They've confirmed that all the details are correct. So why else would the electronic check fail?

Interesting_Ian

Sceptic001 wrote: »

Yes, I suspect either your name or address on the electoral register differs in some way and does not show up when banks do their ID check. Ask your local council electoral registration office for the exact format of your name and address on their records. Alternatively, if you have local elections in May you will soon receive a polling card which will show these details.

When these ladies rang up to electronically confirm my identity, was it the electoral office they rang up? If not then whom because obviously I'll need to contact them.

One possible source of confusion is that the electoral office has just said in their email reply that they only hold initials for middle names, not the full middle names. However in both cases when they ladies rang up they were asked to spell out my middle name to distinguish it from an alternative spelling.

Sceptic001

Interesting_Ian wrote: »

They've just responded. They've confirmed that all the details are correct. So why else would the electronic check fail?

Wow, that was quick. A very efficient council you've got there!

Interesting_Ian wrote: »

When these ladies rang up to electronically confirm my identity, was it the electoral office they rang up? If not then whom because obviously I'll need to contact them.

One possible source of confusion is that the electoral office has just said in their email reply that they only hold initials for middle names, not the full middle names. However in both cases when they ladies rang up they were asked to spell out my middle name to distinguish it from an alternative spelling.

Middle name initials should not cause a problem. It is standard practice for the electoral roll to use initials only for middle names.

Does your house have a name? I find this can be omitted if your house also has a number.

I presume (maybe someone can confirm?) that there is a central enquiry point for banks, as it would be unrealistic for banks to contact individual local authorities.

EDIT: On another tack, maybe it is a credit reference agency problem. Have you checked with them that they have your correct details?

Interesting_Ian

Sceptic001 wrote: »

EDIT: On another tack, maybe it is a credit reference agency problem. Have you checked with them that they have your correct details?

I don't know. I have no idea about this sort of stuff! Are they implicated with the ease with which one can obtain credit cards? I was given a credit card a few years back. Scarcely used it, and when I do I just pay it off by direct debit. So basically never been in debt in my life. Much prefer using my debit card so that I know how much money I have!

So won't have a problem there will I? Does this "credit reference agency" have an email address or tel no?