First Direct want proof of identity years after account opened: anyone else affected?

Doc_N

meer53 wrote: »

Even documents like council tax bills and HMRC or DWP originals ? I've supplied documents to them and i didn't have to have any documents certified.

I'd call them to ask if i were you.

Everything! 'For security reasons we're not taking originals' is what they say in the letter.

Security, hell - this has more to do with saving them the bother of having to return the originals, never mind the expense of certification to the customer!

No matter - this has cause us to rethink everything, and FD will lose accounts with substantial investments earning very little in interest. First Direct's loss - Santander's gain. :rotfl:

meer53

Don't the "security reasons" only relate to Passports and Driving Licences ?

Doc_N

meer53 wrote: »

Don't the "security reasons" only relate to Passports and Driving Licences ?

You'd have thought so, wouldn't you? But no.

There are the usual two lists of documents. One list for Proof of Identity and the other for Proof of Address.

The identity proof list is the one containing passport, driving license etc - which you certainly wouldn't want to send in the post.

The address proof list is just the usual utility bills etc - which could certainly go in the post.

I'm certain that First Direct are just trying to save themselves the bother of having to return anything. Talking about 'security reasons' is a downright lie, just as it's a lie to pretend that all this is being done for the benefit of the customer.

I used to trust First Direct, but this has changed my mind. They're no better in reality than any other bank, with the added drawback that they don't pay any interest on their current account!

Hominu

Got the letter, phoned them to complain why it has taken them so long to notice (it was around 1995 when I opened the account) and they couldn't say why, but they needed the information to "enhance my account security" (I call BS) and "prevent fraud and money laundering", which I'm guessing is so they can check me out more thoroughly, not anyone else.

They also can't explain why I've managed to open probably 12 - 15 other accounts since FD and all verified electronically.

I might say something like "Give me £100 and I'll send you the documents, otherwise I'm telling Halifax I'm moving my banking to them and will receive £100 that way". I'm guessing they'll just close the account and I'll lose my regular saver.

colsten

Hominu wrote: »

I'm guessing they'll just close the account and I'll lose my regular saver.

Would they do that if you just ignored their request?

Doc_N

colsten wrote: »

Would they do that if you just ignored their request?

From the wording of my letter - no.

"If we don't receive the information we may not be able to open any further accounts for you or provide you with additional products and services."

So the simple answer may just be to ignore the letter and do nothing. I suspect that they're going to backtrack on this anyway once they really start getting flak for it. That's already started, and they've only just issued the first batch of several thousand letters. More batches to come - unless they change their minds.

masonic

Doc_N wrote: »

From the wording of my letter - no.

"If we don't receive the information we may not be able to open any further accounts for you or provide you with additional products and services."

So the simple answer may just be to ignore the letter and do nothing. I suspect that they're going to backtrack on this anyway once they really start getting flak for it. That's already started, and they've only just issued the first batch of several thousand letters. More batches to come - unless they change their minds.

Seems like the best thing to do is wait until you need to open another account with them and take a view as to whether it is worth the hassle or not at that time. That's what I'll do if I receive one of these letters.

Cyberman60

InsideInsurance wrote: »

There has been a lot of press about anti money laundering and banks being investigated, though mainly in the USA.

Probability is that HSBC has reviewed its practice and checked the "Know Your Customer" checks were properly done and evidence stored but found that there has been "issues" with FD hence wanting to stop the gap either due to AML investigations or in fear of one.

Whilst the bank isnt listed as one of the approvers I am sure they would accept certified copies by their colleagues there

You got it in one IMO. They're trying to weed out the false accounts to catch up on the tax-dodgers and criminals. Not a moment too soon !!!!:T

Annabee

It seems that this is still ongoing - I received one of these letters today. I have had the account for about 20 years, so puzzled and yes, a bit annoyed. Presume the information I gave at the time of opening the account was sufficient at the time, so what has changed?

It's a joint account with my husband, so it will be interesting to see if he gets one too.

Herbalus

Annabee wrote: »

Presume the information I gave at the time of opening the account was sufficient at the time, so what has changed?

The current anti money laundering regulations and financial crime fighting commitments mean that banks have to know who their customers are. That means identifying them electronically if possible, or getting copies of passports and proof of addresses.

Could be that the ID you provided 20 years ago is now insufficient to meet current regulations, or they've lost it, or the scan of a photocopy is totally unreadable. They can't electronically ID you once you're already a customer I believe (could be wrong), because of old systems.