Chase - Proof of Entitlement

Marchitiello

adjfraser said:

400ixl - Thanks for the insight, I agree that they have probably flagged this as suspicious. This is the reason for posting the comment, so that others who wish to use the account in this way are aware.

penners324 & Marchitiello - I don't disagree that there are likely other ways of proving this. However, they won't tell me what they need me to provide (other than payslips, which i don't have). It's this poor service that is the other reason for posting this comment.

You stated that you pay yourself a salary (and this needs to have the relevant payslip with deduction calculations) and dividends. Depending on your company set up, there should be the minutes of the director meeting that will record the decision of paying dividends and the amount. If not already done, you could ask your company finance “manager”/accountant to create/issue/re-issue a payment remittance with reference to any dividends payment.

I do not think Chase (or any other bank I have experienced for similar requests) are being unreasonable: if you stated that  you are entitled to this funds because these were received as salary and dividends, you must provided payslips for the salary and a company official document confirming the payment of said dividend (I do get an headed letter confirming dividend payment from various business I have shares in).

binao

AML and KYC are very high profile now in the banking world. New strict regulations require the banks to ensure all fund sources are 100% bona fide.

Scams, fraud and financial crime have increased over 100% year on year and need bank accounts to facilitate the movement of illegal funds.

The banks have been given the task of eg stopping house purchase fraud scams, as a solicitor you may be aware of how this works, maybe this dinged the banks button, you'll never know. For sure, the button was dinged.

The banks  are not permitted to give you any info re an investigation on pain of severe censure.

You  have  received replys from very knowledgeable long time posters. Patience and co-operation are the buzz words.

Changing banks will not help, a bank if new to you, needs  to get to know and trust you. KYC.