Identification for opening ISA

penny_pincha

Good to hear that your sorted out but doesn't seem fair you miss out if you have no driving licence or passport. You would think that with so much competition for ISA money no provider can afford to exclude anyone.

innovate

penny_pincha wrote: »

You would think that with so much competition for ISA money no provider can afford to exclude anyone.

Banks are not short of money given the funding for lending scheme, as has been discussed elsewhere. They are therefore not going out of their way to get saver's money, be it for ISAs or normal savings.

They do, however, have to comply with money laundering legislation, which doesn't stop short of savings accounts. It's a reality these days that you might have to be able to present official ID if you want to transact with any bank or BS. Thank the crooks and criminals for this.

penny_pincha

innovate wrote: »

They do, however, have to comply with money laundering legislation, which doesn't stop short of savings accounts. It's a reality these days that you might have to be able to present official ID if you want to transact with any bank or BS. Thank the crooks and criminals for this.

I understand that but it doesn't seem consistent then that some establishements will accept other forms of ID. I am sure they must be complying with the legislation.

Vortigern

I applied online for the Coventry ISA today. They haven't asked me to provide any ID. The web may says they may require ID, but the completed form I printed says ID not required.

Another positive for the Coventry is that their date of birth field defaults to 1950 - which means I don't have to scroll very far.

steady__eddie

"Another positive for the Coventry is that their date of birth field defaults to 1950 - which means I don't have to scroll very far. "

I also found this to be a useful facility, saves a bit of wear and tear on the index finger.

Re the I.D. probs encountered with Coventry, a few years ago, O/H had a prob opening an I.S.A. with another Bldg. Soc. not 35 miles from Coventry. Same scenario, no passport or driving license. (With my looks and manners, I don't want to attract a mobile partner). They refused to open an I.S.A. for her even though she had held a mortgage with them for 16 years.
Money Laundering Regs gone mad or what ?

stinktankcynic

innovate wrote: »

Banks are not short of money given the funding for lending scheme, as has been discussed elsewhere. They are therefore not going out of their way to get saver's money, be it for ISAs or normal savings.

They do, however, have to comply with money laundering legislation, which doesn't stop short of savings accounts. It's a reality these days that you might have to be able to present official ID if you want to transact with any bank or BS. Thank the crooks and criminals for this.

Not everyone has a passport or drivers licence. Not everyone goes to a Dr, dentist, or knows an accountant, teacher or solicitor to do certified copies. An NI number, bank statement or letter from HMRC should be enough, but it's not. Why?
The sad fact is, it's probably easier to turn up in the UK with no proof of identity and get legal aid, benefits etc, than someone who's lived and worked in the UK to set up a new bank account. It does nothing to prevent the majority of money laundering.

innovate

Utter rubbish that non-Brits can get benefits and bank accounts any easier than Brits. You either can prove your ID or you can't. And you can either rightfully claim or you can't.

innovate

stinktankcynic wrote: »

Not everyone has a passport or drivers licence. Not everyone goes to a Dr, dentist, or knows an accountant, teacher or solicitor to do certified copies. An NI number, bank statement or letter from HMRC should be enough, but it's not. Why?
.

Accepted, not every can get a driving licence. But everyone can get a proper passport. Unless, of course, they are of illegal origin, or they are on the run.
Equally, everyone can go to a Dr, dentist, or an accountant, teacher or solicitor to get certified copies. And if they don't know any such person, everyone can ask around for one.
An NI number, bank statement or letter from HMRC is not enough because it can be easily faked, even if you and I have no idea how to fake it.

Renfro

innovate wrote: »

An NI number, bank statement or letter from HMRC is not enough because it can be easily faked.

And how is that any different from a pensions letter from DWP? (which Coventry accepts as proof of ID).

Besides, Aldemore (and others) do take statements from HMRC as proof of ID, so it clearly IS enough.

xylophone

And how is that any different from a pensions letter from DWP? (which Coventry accepts as proof of ID).

Besides, Aldemore (and others) do take statements from HMRC as proof of ID, so it clearly IS enough.

I see that you now have an account but are you going to write to your MP?