Raisin

Afternoon.   I did join Raisin 2/3 yrs ago, but never actually  saved with them in the end, finding direct  to banks etc,  were often  just as good . Today I got an email from them which appears to be the normal web address, saying in order to stay with them,  I need to fill in  where my funds are from, and what is my yearly income. Im not doing it as Im not using them, but  are  these intermediaries  really obliged by law to keep this information up to date as they claim ,even when you havent got money with them at that time? 

Comments

  • Veteransaver
    Veteransaver Posts: 299
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    I got same message. I stopped using them ages ago, I don't think they get the best deals. 
    Looks more like they are using it for their own data records/marketing, don't think you are legally obliged to give those details.
  • Numbersup
    Numbersup Posts: 7
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    I got same message. I stopped using them ages ago, I don't think they get the best deals. 
    Looks more like they are using it for their own data records/marketing, don't think you are legally obliged to give those details.
    Think you're right. I was going to amend  my post (but couldnt) to read they 'imply'  its a legality  ,as reading again I think its just 'required' by their own company . 
  • Bigwheels1111
    Bigwheels1111 Posts: 2,229
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    I think it’s called KYC, Know your customer.
    Something like that.
    From what I’ve read on here all bank seem to be doing these checks.
    YBS is asking lots of people applying for the xmass saver to send in id etc.
    Even if you have been with them for years.
    Not looking forward to being asked for id and info.
    Job, Lazy bum not worked in 10 years. Carer.
    Earnings 45.6p an hour.
    Standard bills, G&E, Water, Council tax, No No No.
    Not one bill in my own name.
    Raisin are ok, have 2 savings products with them.

  • trickydicky14
    trickydicky14 Posts: 934
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    I got same message. I stopped using them ages ago, I don't think they get the best deals. 
    Looks more like they are using it for their own data records/marketing, don't think you are legally obliged to give those details.
    You say you don't think you are legally obliged to give those details but I found when I log in I can't access my account unless I give this information so if you have savings accounts with them, you have to give up this information if you want to manage your account.
    I choose the rooms that I live in with care,
    The windows are small and the walls almost bare,
    There's only one bed and there's only one prayer;
    I listen all night for your step on the stair.
  • Numbersup
    Numbersup Posts: 7
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    Ive nothing in  so I can ignore them .   The way things are going,  we're going to be required to broadcast our yearly income on our foreheads! 
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