Fidelity want a driving licence or passport to return money

MarkBargain

A friend of mine opened a Fidelity investment fund a few months ago. They took her money and invested it, but later wrote that they need proof of address and a certified copy of a driving licence or passport. The trouble is she doesn't have a driving licence and her passport has expired. She wrote to explain, sending the bank statement for proof of address and asked them to close the investment and return the money (which had gone down a bit) to the account she deposited from. They sold the units but will not refund her money without a certified copy of a driving licence or passport. So it seems she will have to renew her passport just for this. Is that fair enough, or should they return her money?

dunstonh

but later wrote that they need proof of address and a certified copy of a driving licence or passport.

That sounds like she failed the electronic money laundering check and they are reverting back to traditional methods.

Is that fair enough, or should they return her money?

They cannot return the money as they need to check her ID. It applies to withdrawals as well as deposits. She has satisfied the address check but she needs to satisfy the individual check.

There are some alternatives that can be used but it is up to the firm involved if they choose to use them or not. When it isnt photo ID, typically you need two things. State pension book/benefits notification letter, subcontractors certificate, inland revenue tax notification (not P60), Old style driving licence, local authority tax bill, electoral roll check (although as she has failed the electronic check, that suggests she isnt on the ER as someone that is usually passes as a non-ex directory telephone number and that would make a pass)

grizzly1911

MarkBargain wrote: »

A friend of mine opened a Fidelity investment fund a few months ago. They took her money and invested it, but later wrote that they need proof of address and a certified copy of a driving licence or passport. The trouble is she doesn't have a driving licence and her passport has expired. She wrote to explain, sending the bank statement for proof of address and asked them to close the investment and return the money (which had gone down a bit) to the account she deposited from. They sold the units but will not refund her money without a certified copy of a driving licence or passport. So it seems she will have to renew her passport just for this. Is that fair enough, or should they return her money?

They no doubt want to complete there AML checks and prove identity.

Has she tried phoning them to discuss and establish what else they may accept?

sabretoothtigger

Cheapest way is register to vote. Not many firms will accept you can vote but dont qualify as a legitimate identity also.
Ironically I think a credit check helps savings

Otherwise if you know a doctor, I think they can verify identity as thats one the driving license needs

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> an article on the right talks about it
http://www.moneysavingexpert.com/news/loans/2013/07/get-on-the-electoral-roll-to-boost-your-loan-chances

MarkBargain

Thanks for the responses. The letters were quite clear that they would only accept the originals or certified copies of a passport or photo driving licence, so looks like she'll have to renew the passport then send this off.

sabretoothtigger

Its probably a bit late to try voting forms unless she already has them. The letter can say whatever Im sure it is written for clarity but the law allows their disgression to accept other forms of proof. If she needs the passport anyway then go ahead but Ive done without.

If she has just moved there and cant transfer old accounts to the new address as proof of living there then I guess that might be why its particularly difficult

grizzly1911

MarkBargain wrote: »

Thanks for the responses. The letters were quite clear that they would only accept the originals or certified copies of a passport or photo driving licence, so looks like she'll have to renew the passport then send this off.

What about people that have never travelled abroad and do not drive?

They must be able to take an alternative.

Why should they be forced to waste £70 squid unless the passport is needed for travel.

innovate

grizzly1911 wrote: »

What about people that have never travelled abroad and do not drive?

I reckon it would be just a really tiny proportion of the UK population who require proof of ID, and who wouldn't have a passport or driving licence.

Online applications for bank accounts are checked against the Electoral Register (ER) - if you are on there with the data you use on your bank application, you generally sail through the application.

There is literally zero excuse for not being on the ER, and there is no charge for registering.

But even if you cannot manage to get onto the ER - - banks will generally accept other forms of proof of ID - such as a birth certificate. Nobody can possibly find an excuse for not having a birth certificate. If you can't readily find it, order it: https://www.gov.uk/order-copy-birth-death-marriage-certificate

dunstonh

What about people that have never travelled abroad and do not drive?

They must be able to take an alternative.

Yes, there are alternatives. However, direct online providers operating to a DIY market tend to want to keep things cheap and simple for both them and their customers.

Why should they be forced to waste £70 squid unless the passport is needed for travel.

Equally, why should other customer pay for the extra administration that not having these creates for the tiny minority of people who live under the radar. A face to face service doesnt have these issues but a budget direct/online service is going to be mindful of costs.

(note: I am partly playing devils advocate here)

IronWolf

Can she not get a provisional driving licence? I think theyre free

opinions4u

IronWolf wrote: »

Can she not get a provisional driving licence? I think theyre free

£50. I thought it was a tenner!

https://www.gov.uk/driving-licence-fees

If the passport would get used at some point it's probably the better option.

Being on the electoral register is always a good idea if you want to transact with an organisation that has to comply with Money Laundering Regulations.