TheAA Savings 1.43% TopCashback £15.15

typistretired

I have a widowed relative who is mortgage free, no credit cards, no passport or driving licence, no debts. Lived at same address for over 40 years and been with the same bank for over 50 years but it is impossible to open a savings account for her without sending copies of proof of ID and address. She must be on the electoral register as she always votes.

masonic

typistretired wrote: »

I have a widowed relative who is mortgage free, no credit cards, no passport or driving licence, no debts. Lived at same address for over 40 years and been with the same bank for over 50 years but it is impossible to open a savings account for her without sending copies of proof of ID and address. She must be on the electoral register as she always votes.

Problems highlighted - electronic verification often fails when there isn't a sufficient credit history for the individual. I'd wager her current account is old enough not to be reported to the credit reference agencies, so there is unlikely to be any data held other than the electoral roll information.

typistretired

System not geared to older savers who would find it difficult to get into Branch. It’s savings, we are giving them money

masonic

typistretired wrote: »

System not geared to older savers who would find it difficult to get into Branch. It’s savings, we are giving them money

Some of the best savings accounts are operated by banks who have no real presence on the high street anyway.

The problem is the legal requirement to verify the identity of any customer whose money you accept on deposit. But there are some simple things that can be done to improve the chances of being electronically verified, such as opening a new current account under T&Cs that would allow the bank to report information about the account to the CRAs, and/or taking out a low limit credit card and using it occasionally to stop it becoming a dormant account.

typistretired

But they ask for your NI number that is an excellent way of checking your ID. When you go onto your HMRC Self Assessment the tax man has all your interest you have received showing. So the banks and HMRC are linked for tracking savings.

masonic

typistretired wrote: »

But they ask for your NI number that is an excellent way of checking your ID. When you go onto your HMRC Self Assessment the tax man has all your interest you have received showing. So the banks and HMRC are linked for tracking savings.

That's a nice idea, but banks send that information to HMRC. HMRC does not reciprocate by giving them access to their database.

The databases the savings providers can search are those of the credit reference agencies, hence it is there one must have a presence in order to be electronically verified.

Edit: This is off topic, but, you say "When you go onto your HMRC Self Assessment the tax man has all your interest you have received showing". I've never had that experience. I've always had to add it up myself and provide it to HMRC through self assessment - and I've just filed my latest tax return. I know most people who don't do self assessment see this information in their personal tax accounts. I was under the impression that those of us who self-assess don't get that privilege.

Nuggy96

opened my AA account on 22nd July, still saying pending on topcashback, anyone had any update on it changing to confirmed, or when they've actually received cashback. I know it says estimated 8 weeks, just want personal experiences.

thanks in advance

veryintrigued

Nuggy96 wrote: »

opened my AA account on 22nd August, still saying pending on topcashback, anyone had any update on it changing to confirmed, or when they've actually received cashback. I know it says estimated 8 weeks, just want personal experiences.

thanks in advance

11 eleven months ago?

quirkydeptless

Nuggy96 wrote: »

opened my AA account on 22nd August, still saying pending on topcashback, anyone had any update on it changing to confirmed, or when they've actually received cashback. I know it says estimated 8 weeks, just want personal experiences.

thanks in advance

I opened accounts on 23 June, 27 June, 10 July.



They are all at 'pending' status

Zanderman

Nuggy96 wrote: »

opened my AA account on 22nd August, still saying pending on topcashback, anyone had any update on it changing to confirmed, or when they've actually received cashback. I know it says estimated 8 weeks, just want personal experiences.

thanks in advance

Mine became payable this week - account opened 16th May.

PS do you really mean 22nd August?