Declaring dual nationality

SCUD

A person became a British citizen by naturalisation many years ago.

She applied recently to open an ISA or a Current Account (sorry not sure which one) with Nationwide bank and she was asked if she has another nationality.

She ticked yes and declared the name of the country.

Now she is asking how will the bank use these details? 

What if she didn’t declare the other nationality?

If her original nationality already registered with government when she first migrated to UK, so why would she give these extra details out to a bank?

p00hsticks

I think the bank or building society (NB - Nationwide is the latter) needs to know because certain countries impose additional rules on foreign banks dealing with their citizens, even if they have dual nationality.

The USA is the obvious one that springs to mind; the IRS requires UK banks to report on their dealings with US citizens, for example. 

Brie

Yes it's only the US that I've seen as being an issue for people including myself slightly despite not being a US citizen.  (worked for a Co with it's head office in the US so complicated) 

SCUD

p00hsticks said:

I think the bank or building society (NB - Nationwide is the latter) needs to know because certain countries impose additional rules on foreign banks dealing with their citizens, even if they have dual nationality.

The USA is the obvious one that springs to mind; the IRS requires UK banks to report on their dealings with US citizens, for example. 

She is not an American.

p00hsticks

SCUD said:

p00hsticks said:

I think the bank or building society (NB - Nationwide is the latter) needs to know because certain countries impose additional rules on foreign banks dealing with their citizens, even if they have dual nationality.

The USA is the obvious one that springs to mind; the IRS requires UK banks to report on their dealings with US citizens, for example. 

She is not an American.

I said the USA is the obvious one, but that's not to say there aren't others - I would imagine current sanctions would impact on banking facilities for those with dual Russian nationality, for example, and even if dealings with a particular countries may be fine now, sanctions could be imposed for some reason at any point,. which is why banks and building societies need to have dual nationalities on record. 

SiliconChip

I added New Zealand citizenship to my British nationality over 30 years ago, I've declared it for every account I've opened since then and it's never been an issue, so unless your original country is one that has an irregular relationship with the UK I'd stop worrying about it.