Photo ID only for New Chase 1.5% Bank Account (and other things)

eskbanker

MartusJK said:
My view, and I am sorry but its getting a bit into political territory, is it that the current ID "industry" is a big lucrative money making operation

Who do you mean by the current ID "industry"?  My understanding is that electronic ID verification is effectively a by-product of the credit data aggregated by the ratings agencies - they'll obviously charge those using their services but even if there was a workable alternative for ID verification, I'd have thought that the bulk of their credit-related activity would continue?  Or do you feel that someone else is making money out of ID verification?

Daliah

masonic said:

Daliah said:

I think there is cross-party, and even cross-country, and cross-industry consensus that money launderers and fraudsters need to be stopped. One of the most critical actions to achieve this objective is ID verification of every new customer.

Yes, and I think there is cross-party/cross-country/cross-industry support to do so using government issued ID documents that 98% of the population already hold, which has been implemented for the better part of a decade at least, rather than embark on an expensive project to reinvent the wheel, at a time when people feel public money should be targeted to more pressing matters.

...............

masonic

eskbanker said:

MartusJK said:
My view, and I am sorry but its getting a bit into political territory, is it that the current ID "industry" is a big lucrative money making operation

Who do you mean by the current ID "industry"?  My understanding is that electronic ID verification is effectively a by-product of the credit data aggregated by the ratings agencies - they'll obviously charge those using their services but even if there was a workable alternative for ID verification, I'd have thought that the bulk of their credit-related activity would continue?  Or do you feel that someone else is making money out of ID verification?

There is a bit of a private industry around this, for example, https://www.citizencard.com/ and others. However, none of these private ID cards are acceptable forms of ID for the banking regulations.

Daliah

eskbanker said:

MartusJK said:
My view, and I am sorry but its getting a bit into political territory, is it that the current ID "industry" is a big lucrative money making operation

Who do you mean by the current ID "industry"?  My understanding is that electronic ID verification is effectively a by-product of the credit data aggregated by the ratings agencies - they'll obviously charge those using their services but even if there was a workable alternative for ID verification, I'd have thought that the bulk of their credit-related activity would continue?  Or do you feel that someone else is making money out of ID verification?

There is actually quite lively competition amongst a plethora of ID verification services and authenticators that work on the basis of passports or DLs and data from credit reference agencies and the Electoral Register. They essentially offer ID services to financial services companies, and even to governments. For example, in the UK, there are PostOfficeIDService and Digidentity, either of which can currently be used to verify your ID for access to your personal tax account and other Government services. Similar services exist in other countries. If you google "ID verification", there's a whole host of such companies, and you can find them in just about all developed countries.

It makes sense for such companies to exist because the need for ID verification exists. Much cheaper for the financial services providers to buy a ready-made, tested and maintained ID verification solution than to develop and maintain one themselves.

I am pretty sure, though, that there is no evidence that any of these companies exist because they are giving backhanders to any political parties.

coyrls

MartusJK said:

Aristotle67 said:

I want to apologise to everyone because I got carried away over the last 24 hours labouring a point. I have my view on the matter but I should not have continued to argue it. That is not what the thread was focusing on and I shouldn't have dragged it off topic. 

Sorry.

My solution to all this is relatively simple: ......

It's a solution in search of a problem.

etwallace

They not only require a passport photo id but ALSO a selfie which is a close enough match to the pp photo for their software to check it the same person. This is security gone mad as most other online applications for bank accounts are satisfied with less. My passport is 9 years ago, still valid, but the photo is not great quality and it does not pass their check against a selfie. Tried 3 times, not bothering again, and they've got all my personal id!!!.

Can anyone point me to Chase UK postal address please? Is it Bristol?

masonic

etwallace said:

They not only require a passport photo id but ALSO a selfie which is a close enough match to the pp photo for their software to check it the same person. This is security gone mad as most other online applications for bank accounts are satisfied with less. My passport is 9 years ago, still valid, but the photo is not great quality and it does not pass their check against a selfie. Tried 3 times, not bothering again, and they've got all my personal id!!!.

A photo of a passport is useless without comparing it to the person opening the account. This is done by staff in branch, or through certification for postal checks. The selfie option is more convenient for most. My passport, which was over 10 years old at the time of opening my account, took about half a dozen attempts to pass the checks, but I got there quicker than if I had needed to travel to get it checked in person or certified by someone of suitable standing. Most banks require this in one form or another for opening your first current account with them as a new customer.

Thrugelmir

And productivety in the UK continues to decline...... technology doesn't appear to be solving anything. Perhaps we should return to paper based systems and weeks of delays.

dosh37

masonic said:

eskbanker said:

MartusJK said:
My view, and I am sorry but its getting a bit into political territory, is it that the current ID "industry" is a big lucrative money making operation

Who do you mean by the current ID "industry"?  My understanding is that electronic ID verification is effectively a by-product of the credit data aggregated by the ratings agencies - they'll obviously charge those using their services but even if there was a workable alternative for ID verification, I'd have thought that the bulk of their credit-related activity would continue?  Or do you feel that someone else is making money out of ID verification?

There is a bit of a private industry around this, for example, https://www.citizencard.com/ and others. However, none of these private ID cards are acceptable forms of ID for the banking regulations.

My advice: DO NOT APPLY FOR A CITIZEN CARD:-

1. They are not accepted by many organisations as proof of ID

2. You have to pay upfront as part of the application process. When you apply you waive your rights to a refund.

The online application process is complex, time consuming, error prone and has not been fully tested on all platforms.

If you are unable to get the verification software to work as it should, they can refuse to refund your money.

Checkout the trustpilot reviews for both 'Citizencard' and 'Yoti' who I believe are responsible for the validation software.

dosh37

It sounds like Chase are using a similar Photo ID verification system to Investec.

I had hours of fun trying to open a new account:-

https://forums.moneysavingexpert.com/discussion/6316732/investec-online-flexi-saver-new-account-opening-process