Virgin Money - ID requirements

General_Grant

I opened a regular savings account with them more than a year ago. That was maturing so I went back to the same branch to make an appointment to open another (they won't let you open these online because they want to sell you more products as well) and volunteered that I would bring in my driving licence (which has photo, name, address and date of birth on it). I have not changed my address (nor name) in the last year.

I kept the appointment, produced the driving licence. They looked at their computer system and could see the matured regular saver and an account recently opened online but were a bit unsure about only having one piece of physical ID but checked (somewhere) and opened the account any way.

I have made my first monthly payment into that account.

Over a week later I receive a phone call saying HQ demand that I produce another piece of ID - from within the last four months, something sent by mail, not downloaded. And could I do that today.

They already know me - nothing has changed. Next year I don't think I'll bother - and they won't miss me.

I suppose that, if you have got thus far, I'm saying if you want a Virgin Regular Saver account take all possible ID with you even if they have an established relationship.

Are all banks going to start asking for annual proof that we exist? (Is that giving them ideas?)

eskbanker

To be fair, Virgin, as with any other financial institution, are subject to KYC regulations and therefore insist on two separate pieces of ID (one of which must be within four months, as published at https://uk.virginmoney.com/virgin/downloads/facetofaceid.pdf) so if any ID is required at all then it'll always be two separate items rather than one, although I do get the argument that it could/should have been zero for repeat business....

Perhaps it relates to the takeover of Virgin by CYBG, which won't have happened when you previously opened your account?

Eco_Miser

Two points
1) Why haven't you been opening accounts every two months?

2) I haven't any ID from list A, but they just verify me electronically and open the account. Then I get a welcome letter from HQ, which I gather is a subtle check that it wasn't someone pretending to be me.

Also I've never had any bank staff (any bank) try to sell me anything I hadn't asked about. Occasionally asked if I was interested in some other account, but no pushing when I said no. So no worse than the ads on their websites.

IanManc

General_Grant wrote: »

I opened a regular savings account with them more than a year ago. That was maturing so I went back to the same branch to make an appointment to open another (they won't let you open these online because they want to sell you more products as well) and volunteered that I would bring in my driving licence (which has photo, name, address and date of birth on it). I have not changed my address (nor name) in the last year.

I kept the appointment, produced the driving licence. They looked at their computer system and could see the matured regular saver and an account recently opened online but were a bit unsure about only having one piece of physical ID but checked (somewhere) and opened the account any way.

I have made my first monthly payment into that account.

Over a week later I receive a phone call saying HQ demand that I produce another piece of ID - from within the last four months, something sent by mail, not downloaded. And could I do that today.

They already know me - nothing has changed. Next year I don't think I'll bother - and they won't miss me.

I suppose that, if you have got thus far, I'm saying if you want a Virgin Regular Saver account take all possible ID with you even if they have an established relationship.

Are all banks going to start asking for annual proof that we exist? (Is that giving them ideas?)

I am on my seventh branch based regular saver account, and no one has ever attempted to sell me any other products during my appointment to open them, which have been at four different branches.

When I have phoned to make the appointment I have always been asked to take identification, even though I had online Virgin Money accounts before I ever had any branch based ones. I always say I'll take my passport, and have been asked to bring my driving licence as well on a couple of occasions.

It takes me seconds to pick up these documents on my way out to each appointment, and I don't find it onerous in any way to take them with me.

System

You opened another account, so wouldn't you be subject to their account opening t&cs including ID checks??

MovingForwards

Each time I open a new account with them I need to provide ID, I'm happy they are taking responsibility with money laundering regulations, obtaining current ID and confirming I'm who I say I am.

General_Grant

SPalin wrote: »

You opened another account, so wouldn't you be subject to their account opening t&cs including ID checks??

It seems I am. But the online accounts don't have this requirement for seeing bills or bank statements, even for a first account. If they can carry out ID checks satisfactorily for that, why for branch accounts for existing branch customers with no changes to their personal details other than being a year older and with a year's transactions. When I opened this new account and offered to leave without opening it because of the sudden request for additional ID (they had not mentioned this when I booked the appointment), as I said, they then went ahead and opened the account without my being asked to bring more ID in.

As well as taking a bank statement in which they copied of course, I presented my passbook so it could be brought up-to-date. So what is printed? On row 01 was the current date and the balance BF, not that this was one amount "invested" or when or how it was received. Shoddy.

General_Grant

IanManc wrote: »

I am on my seventh branch based regular saver account, and no one has ever attempted to sell me any other products during my appointment to open them (1), which have been at four different branches.

When I have phoned to make the appointment I have always been asked to take identification (2), even though I had online Virgin Money accounts before I ever had any branch based ones. I always say I'll take my passport, and have been asked to bring my driving licence as well on a couple of occasions.

It takes me seconds to pick up these documents on my way out to each appointment, and I don't find it onerous in any way to take them with me. (3)

(1) Well, for the first account, I was certainly quizzed to see whether there were other products which they could guide me towards.

(2) I was in branch and myself volunteered that I would bring in my DL and was not asked for anything else.

(3) So I made three visits, admittedly I could have phoned instead of the first occasion.

Poor_Leno

To be fair, some people open accounts in branch and are never seen again until the account matures.

So, imagine the scenario where you might turn up once to produce ID, set up a standing order each month while the account is running, then decide at month 12 to start it up again. You rock up, for the first time in 12 months. I think as an account holder i'd be pleased that Virgin wanted to know I was who i was...in case some one else happened to be accessing the account with potentially ONE piece of fake ID. I mean, if you turned up at that store every week or month, knew the staff and had actually 'established a relationship' of sorts, I could understand you being a bit miffed.

But, if you are like 95% of people who just make a standing order, never to visit again for a year...would you want to put you and your cash at risk from them having a blase approach to people proving who they are? I say keep it cool and just accept that, as things are now so electronically driven, its a good thing that these safeguards are in place

Chordeiles

General_Grant wrote: »

But the online accounts don't have this requirement for seeing bills or bank statements, even for a first account.

As it's the pantomime season - all together now : "OH YES THEY DO !"

davidwatts

Chordeiles wrote: »

As it's the pantomime season - all together now : "OH YES THEY DO !"

There's nothing like a timely and genuinely amusing response...