Overpayment - Third Degree

ad1927

I have never experienced this before, but whilst on the line to an advisor at Leeds Building Society to get my current balance, I asked if I could also make an overpayment.

The overpayment would have been for £1000.  Anyway, he asked how would I be paying, and I said debit card.  He had to get his system up and running, and put me on hold.  He came back a second time, and asked the same questions again, including "why are you overpaying", and "what is the source of the funds?".  I am fairly sure he was filling in for the gap, but I was a bit annoyed by the questions (not that I have anything to hide).  My mortgage term is due to end in a few months, so I just told him I wasn't going to bother.  

Has anyone experienced this line of questioning before?  The questions seemed to be asked without any foundation.

bradders1983

No idea but just get the sort code and account number and overpay it that way, assuming it doesnt take you over the overpayment buffer.

MWT

Mostly AML I would say.

Source of funds is still important when making lump sum payments and the reason demonstrates you have though this through and are acting responsibly.

It is irritating, but it is getting harder to spend your own money these days without exonerating the banks from responsibility for poor decisions thanks to various people suing them for 'allowing' them to make serious errors of judgement.

bradders1983

I just paid £14k off mine via internet banking and a week on I have had no contact asking for source of funds.

Anyway OP, here are the details...

Online

If you’ve got online banking, it’s easy to make mortgage payments online. Use the following details:

Sort code: 40-64-38

Account number: The first 8 numbers of your existing 10 digit mortgage account number

You can find your mortgage account number in your annual statement or by logging into your account online. If you’ve received letters from us recently, it could also be in there