HSBC & First Direct: Silly Quibble

Peartiser

Nothing major - just need to air a frustration.

Recently sussing out life insurance options. In addition to checking out the usual comparison sites, I thought I'd have the courtesy to see if my mortgage provider - First Direct - could provide a quote. FD were, as always, very helpful on the 'phone but said that they didn't do insurance - that was handled by their parent company - HSBC. Note that at this point, I had been through the usual security clearance with FD on the 'phone.

So I get redirected to someone at HSBC, who has now been passed my details, and again, very helpfully, offers to set up an appointment with a financial advisor in branch a couple of days later.

I am then sent an e-mail confirming this, that asks me to bring:

- Photo ID (fair enough - they need to know I'm me)

This is the kicker:

- 3 months Bank statements as proof of address.

I already bank with them (OK -via FD) and have signed up to paperless statements.

The final straw was the e-mail signature that said 'please save paper by only printing if necessary'.

Sigh.......

Actually, the HSBC man was very nice, but still.... co-ordination anyone? Even he thought it was a bit nuts.

cherie1122

I had similar problems when I applied for an HSBC credit card. I have banked with them for years (since they were Midland Bank) and really couldn't see the point of having to take bank statements, passport etc. to my local branch for ID purposes.

Luckily the woman at the credit card section agreed with me, common sense prevailed and I got my credit card. I had just had an operation on my foot and wasn't mobile at the time so a visit to their branch was out of the question.

You might want to give them a ring and point out how crazy their systems are like I did.

fluffnutter

I suspect they'll expect some other communication as proof of address. Utility bill, council tax bill etc. Begs the question though... why don't they just check the electoral roll?

wary

I have my share dealing account with First Direct. The first time I requested to increase my trade limit, it was done no problem. The next time I requested an increase, however, one of their reps phoned me at work saying that before they agree, he had a series of questions to ask me which should only take about 15 minutes.

I pointed out that my wife & I have our current account, savings account, credit card and mortgage with them, so they should have all of the financial information they require about my incomings & outgoings as well as, of course, my share dealing activity. His response was that they need to be careful as trades are on a 3-day settlement and I could withdraw all of my money during this period.

If he wanted to establish my propensity to commit fraud, then I would have had no problem with answering any such questions aimed at that. However, I concluded that if his questions would take 15 minutes, then it would likely be aimed at establishing financial information that they should already have access to, something that I wasn't particularly in the mood for doing, especially as I was at work. So I withdrew my request rather than bow to their over-zealousness.

The only reason why I have my share dealing with them is because I have my current account with them (which offsets my mortgage), and hence makes money transfers easier. Otherwise I wouldn't as their system is crap!

melbell

The fact is you all would moan if the banks didnt check details and then you had your id stolen.

I'd actually point and laugh at you