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Bank asking dodgy questions
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Band7 said:Shakin_Steve said:I just treat Kroo as a savings account with a debit card, the only money that goes in is from my own accounts.
I have long discarded Kroo, even as a savings account. I get 3.55% at CHIP, and who also have a much simpler & faster deposit methodDon't even know why I bothered to open it really, I guess old habits die hard 🙄I came into this world with nothing and I've got most of it left.0 -
Band7 said:Shakin_Steve said:I just treat Kroo as a savings account with a debit card, the only money that goes in is from my own accounts.
I have long discarded Kroo, even as a savings account. I get 3.55% at CHIP, and who also have a much simpler & faster deposit method0 -
Bigwheels1111 said:Band7 said:
I get 3.55% at CHIP1 -
Band7 said:Undisputedtruth said:
Personally anyone who ask me for a date of birth will get a counter question for their date of birth. The response is often muted. The reality is most people don't really understand data protection.
They have no rights whatsoever to ask you for the DOB of someone who has made a payment to you.
Personally, if my financial security is heavily dependent on DOB then I would change my bank as it is relatively easy to get a person's date of birth by asking them their age and birthday. My bank has voice recognition so they can reasonably identify who I am.0 -
Bee175 said:Undisputedtruth said:@Bee175
I look forward to hearing the outcome of the formal complaints. Sometimes banking staff don't always follow the procedures in place, as I discovered in my complaints to the bank, and to make up their own procedures or that of their line manager's.
It might be worth contacting the FCA for their take on this. Particularly as it is their job to regulate the financial market and have policies on money laundering. Sometimes financial institutions may interpret the policies wrongly as I discovered with a stockbroker in Canary Wharf.
Personally anyone who ask me for a date of birth will get a counter question for their date of birth. The response is often muted. The reality is most people don't really understand data protection.
I now think your idea of contacting the FCA is a better idea. A friend had cause to contact them recently, and although their answer was not what he wanted to hear, they did answer promptly. I will do that today.
Your enquiry to the Financial Ombudsman (FOS) will probably result in a reply that you should lodge a complaint to the bank first before contacting them. They won't give an opinion on your situation as it could interfere in their role as arbiters should a complaint is escalated to them.
We don't know if it's the Bank following its own policy or a rogue staff/branch having its own separate policy. So a complaint to the bank is the only way to add some clarity. The complaint handler should compare how the staff have acted within the Bank's own policy and the regulatory framework. The complaint handler may provide an apology/compensation for any deviances in policy/regulatory framework or choose to defend staff. Sometimes the complaint handler may not understand the policies themselves and just take the word of the staff/line manager. Hence the need to arm yourself with knowledge from the FCA.
Just because someone works in a bank doesn't mean they are experts in what they are doing.
Hope this is okay for you.1 -
Undisputedtruth said:Band7 said:Undisputedtruth said:
Personally anyone who ask me for a date of birth will get a counter question for their date of birth. The response is often muted. The reality is most people don't really understand data protection.
They have no rights whatsoever to ask you for the DOB of someone who has made a payment to you.
Personally, if my financial security is heavily dependent on DOB then I would change my bank as it is relatively easy to get a person's date of birth by asking them their age and birthday. My bank has voice recognition so they can reasonably identify who I am.
Nobody has suggested that any banks are making their customers' financial security heavily dependent on people's DOB.0 -
Band7 said:
.Like it or not, DOB is one of the data elements routinely collected for KYC purposes, not least to determine whether a person is entitled to an account or service.
Nobody has suggested that any banks are making their customers' financial security heavily dependent on people's DOB.
Looks like you have misunderstood the purpose of KYC and how it relates to money laundering regulations. It is not a replacement for data protection laws, I'm afraid.
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Probably FCA you need to speak to, not ombudsman
Remember the saying: if it looks too good to be true it almost certainly is.0 -
not sure why you think that I think KYC or AML is a replacement for data protection. But not worth getting to the bottom of this because it's nothing to do with whether a bank can reasonably ask the recipient for the DOB of someone who sent money to them.
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Band7 said:
not sure why you think that I think KYC or AML is a replacement for data protection. But not worth getting to the bottom of this because it's nothing to do with whether a bank can reasonably ask the recipient for the DOB of someone who sent money to them.Well that is because I'm not convinced you have understood my points in regards to data protection.0
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