Why do banks need physical proof of ID?

meer53

Lewis_Ranieri wrote: »

Juicy Jesus


Quite rightly the site has moderated your post.


If you have an intelligent remark, rather than an insult, I will be happy to deal with it.

I think you'll find that JuicyJesus does their own moderating ! Your post doesn't make sense.

Sophie-1

I expect that banks would justify all these id checks by saying they have to comply with money laundering regulations.

JuicyJesus

meer53 wrote: »

I think you'll find that JuicyJesus does their own moderating ! Your post doesn't make sense.

Indeed, the word "b0llocks" doesn't quite have the same impact if it'h converted to exclamation marks.

Also Sophie-1; money laundering regulations are a very good justification indeed because that is exactly why banks do them - because they are required to.

sparky0138

mgdavid wrote: »

yes, go and look yourself up - a copy will be available in a local public library.

Thanks. I didn't know they kept them there. I'll definitely have a look next time I'm in town.

I do understand they need these checks because of money laundering regulations. I'm just interested to know why some people get their accounts approved instantly while others don't.

antrobus

Lewis_Ranieri wrote: »

.....It is because the NAME on the document is not you, it is a Legal Person or Fiction that you use in Commerce, it is not you.....

And this legal person is defined as a ship, floating on the sea of commerce. Isn't that right?

Onawingandaprayer

Lewis_Ranieri wrote: »

Check your Birth Certificate and Driving Licence, you will see on there that they are not to be used for Identification purposes.


Why is that do you think?


It is because the NAME on the document is not you, it is a Legal Person or Fiction that you use in Commerce, it is not you.


Have a listen to Bill Turner on You Tube - What's in a name, he explains it extremely well.


The Bank requires the Information to attach your NAME to the paperwork, have a look at all documents you have received from a Bank, they will be addressed to the Legal Person/Fiction. Look at it as your boot, car, hat etc that you would use when playing monopoly.


Huge topic, if you are inquisitive, google has all the information with heaps on You Tube. Alternatively look on any good online Legal dictionary under the word "Person". Hope this helps?


Regards

Beam me up Scotty

Wheres_My_Cashback

sparky0138 wrote: »

I've banked with HSBC for over 20 years and lived in the same house for over 20 years. I'm also on the electoral roll so can anyone explain why I keep needing to take ID into a bank whenever I open a new account online. The bank manager I spoke to today seemed puzzled as well.

The banks have a duty to check under the AML regulations. The Gvmt stipulates it must confirm ID if they can't do it electronically for whatever reason.
The same applies to abnormal high end transactions. Remember, you're not in the free society you thought you were, this is near enough a police state nowdays

Thrugelmir

sparky0138 wrote: »

I've banked with HSBC for over 20 years and lived in the same house for over 20 years.

How does that help the person in the bank serving you recognise you as the person you are purporting to be?

If somebody emptied your bank account you'd soon have a different attitude I bet.

meer53

adindas wrote: »

The issue here is that if you have been banking with them for many years, they should already have the copy of your IDs. Why do they need to be sent the same documents again each time you apply for a Bank Account and bring the same documents ?

Moreover for some people who already in the electoral registry, why some banks still require them to bring some form of IDs while some do not ??. I think this is something to do with incompetency ...

I think this is more to do with stricter AML procedures. HSBC are being watched very closely.

pelirocco

Lewis_Ranieri wrote: »

Check your Birth Certificate and Driving Licence, you will see on there that they are not to be used for Identification purposes.


Why is that do you think?


It is because the NAME on the document is not you, it is a Legal Person or Fiction that you use in Commerce, it is not you.


Have a listen to Bill Turner on You Tube - What's in a name, he explains it extremely well.


The Bank requires the Information to attach your NAME to the paperwork, have a look at all documents you have received from a Bank, they will be addressed to the Legal Person/Fiction. Look at it as your boot, car, hat etc that you would use when playing monopoly.


Huge topic, if you are inquisitive, google has all the information with heaps on You Tube. Alternatively look on any good online Legal dictionary under the word "Person". Hope this helps?


Regards

where does it say that