Warning re. Investec

Numandyas

I thought of opening one of these accounts today as I already have two accounts with Investec.  I discovered that this new Flexi account is run on a separate platform from other Investec accounts. This means that I cannot just open an account but need to provide identification, etc. as a completely new customer and that I won't be able to transfer money between this account and my other Investec accounts.  I will have to nominate a Linked Account (which could be one of my existing Investec accounts) and payments in and out will be bank transfers.  As I already have a Marcus account which has no minimum balance it's not worth my opening a Flexi account.

Oldchap

I just tried to open the 0.55% Investec easy access account. (I am already an Investec customer so thought it would be easy. HA!)  To open this account  involves photos of driving license (both sides) and a selfie . Eventually when all done the phone said 'return to the desktop app to continue. It was at 44% through the id checks and it just sat there. Started an online CHAT and after a lot of to and fro I  got this somewhat unbelievable statement from Karla:....."Unfortunately it seems as though your mobile may be unsupported by our application which only works on Android 9.0 or iOS 12 and above. Do you have another mobile device you can use?"

I replied asking if all this was necessary as I am already an Investec customer and got this reply

"The Online Flexi Saver has been built on a new digital platform that sits separately from our existing traditional Savings business. It sits on a brand new, purpose built digital savings dashboard. Therefore we need to onboard you as we would a new client."

She said she would record my feedback that needing ios12/Android 9.0 or above to open this account with Investec seems err... pretty stupid.

steampowered

Robert_McGeddon said:

IIRC a national identity card was proposed a few years back and dropped because of overwhelming public animosity. It seems to have been reintroduced via a back door.

Everyone already has a passport and driving licence, and it has always been necessary to have photo ID to open a bank account. Which is what made all of the scare-mongering there was about ID cards a few years ago so ridiculous.

Eco_Miser

steampowered said:

Robert_McGeddon said:

IIRC a national identity card was proposed a few years back and dropped because of overwhelming public animosity. It seems to have been reintroduced via a back door.

Everyone already has a passport and driving licence, and it has always been necessary to have photo ID to open a bank account. Which is what made all of the scare-mongering there was about ID cards a few years ago so ridiculous.

Wrong on all three counts. I have neither passport nor driving licence, but plenty of bank accounts.

t.i.c.h.

I have been a customer since 2013 but as I only have a paper driving licence and an expired passport I am excluded from opening their new Online Flexi Saver Account. This is discrimination. Anyway, why would I want to do business with a private company that wants to see my face for a simple savings account?! What next - if you don't have a social media account we're not interested? As for selfies - ugh!

Zanderman

t.i.c.h. said:

I have been a customer since 2013 but as I only have a paper driving licence and an expired passport I am excluded from opening their new Online Flexi Saver Account. This is discrimination. Anyway, why would I want to do business with a private company that wants to see my face for a simple savings account?! What next - if you don't have a social media account we're not interested? As for selfies - ugh!

It's not discrimination, it's anti-money laundering checks.
If I were you I'd get the paper driving licence updated (assuming it is actually still valid) to a photo card one. 
https://www.gov.uk/exchange-paper-driving-licence
You'll find it increasing essential.
As for social media accounts - not sure what you're on about there.  Different ballgame entirely!

underground99

t.i.c.h. said:

This is discrimination. Anyway, why would I want to do business with a private company that wants to see my face for a simple savings account?! What next - if you don't have a social media account we're not interested? As for selfies - ugh!

Why would they want to do business with you and take your cash to launder if you won't give them a copy of any government issued photo ID or let them see what you look like?  They are only trying to make sure they really do know whom they're dealing with.

You could say they are discriminating between the types of customers they want and the types they don't want. As any shopkeeper or publican would do. 

happybagger

underground99 said:

You could say they are discriminating between the types of customers they want and the types they don't want. As any shopkeeper or publican would do. 

A very broad generalisation of course. Unless such exclusion would put them in breach of the Equality Act. I'm not suggesting this does.

happybagger

t.i.c.h. said:

This is discrimination.

Not really. They also require a mobile phone. This could also be 'indirect discrimination' against the over 80s, for example, as many don't have a device. But it is not a bar to opening it, as they could get one.

It's simple - if you feel aggrieved, other providers are available.

eskbanker

Seems clear to me - requiring photo ID undoubtedly is discrimination, but it's not unlawful discrimination, a distinction seemingly too subtle for many when the word is bandied about....