Nationwide asking to confirm identity 6 years later!?

boingy

Ergates said:

nottsphil said:

Nasqueron said:

blomft said:

I've had this happen recently too,  I can understand the reason for ID checks etc periodically, But they were asking for many personal Details, where do I work, when I started work there, how much do I earn etc etc.
 I can't see any reason why they should want or need this information unless they want to sell me things. 
 If it is a new legal requirement, then why aren't other banks asking for this detailed information?

Imagine you had 3k a month coming in but you had no official job for example - they could get in trouble for not checking if you were laundering cash - yes the KYC checks are a legal requirement. If your data is up to date with others then you won't e.g. if you applied and provided ID like a driving licence 

But it's not cash, is it. 
I have about £4000 of funds going into regular savings with organisations who have no idea about my income.
The origin of the money is never queried and nor would I expect it to be, because they are cleared funds from other organizations. 

So..... what's your point?

His point is that it's our money, it's already in the banking system and we should be able to do whatever we like with it. Because it's our money. There are too many bank apologists on this forum. A vast majority of banking customers are normal legitimate customers. We should not have to jump through hoops to use our hard-earned money.

Ergates

boingy said:

Ergates said:

nottsphil said:

Nasqueron said:

blomft said:

I've had this happen recently too,  I can understand the reason for ID checks etc periodically, But they were asking for many personal Details, where do I work, when I started work there, how much do I earn etc etc.
 I can't see any reason why they should want or need this information unless they want to sell me things. 
 If it is a new legal requirement, then why aren't other banks asking for this detailed information?

Imagine you had 3k a month coming in but you had no official job for example - they could get in trouble for not checking if you were laundering cash - yes the KYC checks are a legal requirement. If your data is up to date with others then you won't e.g. if you applied and provided ID like a driving licence 

But it's not cash, is it. 
I have about £4000 of funds going into regular savings with organisations who have no idea about my income.
The origin of the money is never queried and nor would I expect it to be, because they are cleared funds from other organizations. 

So..... what's your point?

His point is that it's our money, it's already in the banking system and we should be able to do whatever we like with it. Because it's our money. There are too many bank apologists on this forum. A vast majority of banking customers are normal legitimate customers. We should not have to jump through hoops to use our hard-earned money.

People who understand the regulatory landscapes are not "bank appologists", they're just people who aren't stupid.

Exactly who is it, do you think, that has put in place the requirements for confirming where money has come from and where it's going to?   Do you *honestly* think that all the banks just got together one day and agreed "Hey, lets all put in place a vast amount of hugely expensive processes just to !!!!!! our customers.  Come on, it'll be funny" ?

Or do you, perhaps, think that maybe it was the government who gets to decide things like that?

Nasqueron

nottsphil said:

Nasqueron said:

blomft said:

I've had this happen recently too,  I can understand the reason for ID checks etc periodically, But they were asking for many personal Details, where do I work, when I started work there, how much do I earn etc etc.
 I can't see any reason why they should want or need this information unless they want to sell me things. 
 If it is a new legal requirement, then why aren't other banks asking for this detailed information?

Imagine you had 3k a month coming in but you had no official job for example - they could get in trouble for not checking if you were laundering cash - yes the KYC checks are a legal requirement. If your data is up to date with others then you won't e.g. if you applied and provided ID like a driving licence 

But it's not cash, is it. 
I have about £4000 of funds going into regular savings with organisations who have no idea about my income.
The origin of the money is never queried and nor would I expect it to be, because they are cleared funds from other organizations. 

That's the bank taking the risk of falling foul of KYC regulations - that money could be dodgy, it could be legit

Nasqueron

boingy said:

Ergates said:

nottsphil said:

Nasqueron said:

blomft said:

I've had this happen recently too,  I can understand the reason for ID checks etc periodically, But they were asking for many personal Details, where do I work, when I started work there, how much do I earn etc etc.
 I can't see any reason why they should want or need this information unless they want to sell me things. 
 If it is a new legal requirement, then why aren't other banks asking for this detailed information?

Imagine you had 3k a month coming in but you had no official job for example - they could get in trouble for not checking if you were laundering cash - yes the KYC checks are a legal requirement. If your data is up to date with others then you won't e.g. if you applied and provided ID like a driving licence 

But it's not cash, is it. 
I have about £4000 of funds going into regular savings with organisations who have no idea about my income.
The origin of the money is never queried and nor would I expect it to be, because they are cleared funds from other organizations. 

So..... what's your point?

His point is that it's our money, it's already in the banking system and we should be able to do whatever we like with it. Because it's our money. There are too many bank apologists on this forum. A vast majority of banking customers are normal legitimate customers. We should not have to jump through hoops to use our hard-earned money.

It's hardly being a "banking apologist" to point out the LEGAL REQUIREMENTS that banks have to follow under KYC rules. Plenty of criminals/money launderers might well argue it's their money now it's been washed through an account!

Joolsrules07

I know someone in his 60' who's had his Nationwide account for years, then out of nowhere, he gets a letter asking him to show them proof of his ID within 35 days, it then goes on to say that if they've not had them by 60 days, then his account will be CLOSED and put into a HOLDING account until he can provide them with the required identity docs.  Unfortunately he has none of the usual, passport or driving licence, and moved home to live with his sick Mother to look after her, so unfortunately he doesn't have any utility bills in his name either!  He can't be the only one who would be put in this position surely?  So now he's got just the one identity document (if they accept it!) which is from his bank, showing his address, dated within the last 3 months, so this is the actual letter from them!

The other ID they require is a photo ID which he doesn't have, so what are they going to do?  rob him of his money, which is paid in from the DLA, by closing his account and putting his money into a 'holding account' until he can provide ID?   This is infuriating when he's to prove who he is, when there's plenty of people in the country without any legal status.  The bank letter actually states that they are asking for this information for them to be compliant?  so compliant with who, this Government?   

I've tried to apply for a driving licence for him but after full completion, it says the paperwork will be posted out, and once the identity documents requested are submitted for this, then the driving licence will not be dispatched!  What a farse!   He could totally do without the extra worry and hassle of top of providing palliative care to his mother!  Rant over!

 

MattMattMattUK

Joolsrules07 said:

I know someone in his 60' who's had his Nationwide account for years, then out of nowhere, he gets a letter asking him to show them proof of his ID within 35 days, it then goes on to say that if they've not had them by 60 days, then his account will be CLOSED and put into a HOLDING account until he can provide them with the required identity docs.  Unfortunately he has none of the usual, passport or driving licence, and moved home to live with his sick Mother to look after her, so unfortunately he doesn't have any utility bills in his name either!  He can't be the only one who would be put in this position surely?  So now he's got just the one identity document (if they accept it!) which is from his bank, showing his address, dated within the last 3 months, so this is the actual letter from them!

The other ID they require is a photo ID which he doesn't have, so what are they going to do?  rob him of his money, which is paid in from the DLA, by closing his account and putting his money into a 'holding account' until he can provide ID?   This is infuriating when he's to prove who he is, when there's plenty of people in the country without any legal status.  The bank letter actually states that they are asking for this information for them to be compliant?  so compliant with who, this Government?   

They are not robbing him, they are following the law and regulations, as they are required to do, the bank does not have a choice as otherwise they get fined millions, which has happened multiple times already. 

Joolsrules07 said:

I've tried to apply for a driving licence for him but after full completion, it says the paperwork will be posted out, and once the identity documents requested are submitted for this, then the driving licence will not be dispatched!  What a farse!   He could totally do without the extra worry and hassle of top of providing palliative care to his mother!  Rant over!

Not having any valid ID is often an issue, it can make a lot of things difficult. 
Just to be clear, this is down to government legislation and regulation, the bank has no choice. We also have to have stringent procedures in place when people are obtaining official government ID for obvious reasons. Whilst I believe you that his situation with his mother is legitimate if all one required was a sob story to allow one to bypass the KYC and fraud regulations then that would make the entire process meaningless. It is part of the problem caused by a lack of national ID cards, but too many people seem opposed to them. 

I would strongly advise anyone to make sure they keep a current passport and driving license for ID purposes. 

Zanderman

Joolsrules07 said:

I know someone in his 60' who's had his Nationwide account for years, then out of nowhere, he gets a letter asking him to show them proof of his ID within 35 days, it then goes on to say that if they've not had them by 60 days, then his account will be CLOSED and put into a HOLDING account until he can provide them with the required identity docs.  Unfortunately he has none of the usual, passport or driving licence, and moved home to live with his sick Mother to look after her, so unfortunately he doesn't have any utility bills in his name either!  He can't be the only one who would be put in this position surely?  So now he's got just the one identity document (if they accept it!) which is from his bank, showing his address, dated within the last 3 months, so this is the actual letter from them!

The other ID they require is a photo ID which he doesn't have, so what are they going to do?  rob him of his money, which is paid in from the DLA, by closing his account and putting his money into a 'holding account' until he can provide ID?   This is infuriating when he's to prove who he is, when there's plenty of people in the country without any legal status.  The bank letter actually states that they are asking for this information for them to be compliant?  so compliant with who, this Government?   

I've tried to apply for a driving licence for him but after full completion, it says the paperwork will be posted out, and once the identity documents requested are submitted for this, then the driving licence will not be dispatched!  What a farse!   He could totally do without the extra worry and hassle of top of providing palliative care to his mother!  Rant over!

 

The rules in question have been in place for some time, they are existing legislative rules, I'm not sure why you single out 'this government'. It's all pre-existing law. It's about, as you mention legal status, being able to prove they have legal status, and for the bank to be able to say they've seen it. Not an unreasonable request in principle though it does, obviously, require documentation.

Which is what you're saying your friend hasn't got. What your friend needs is photo ID - which should be easy to get, either a passport or a driving licence, even if he doesn't drive. Your comment that a driving licence won't be dispatched once applied for makes no sense - have you mistyped that part? 

Ergates

Joolsrules07 said:

so compliant with who, this Government?   

 

Yes, obviously, "this" government, the legitimate and only government of the UK, in which your friend resides and Nationwide operates.  Who else would it be?  The New Zealand government?  FIFA?  The Ramblers Association?

born_again

boingy said:

His point is that it's our money, it's already in the banking system and we should be able to do whatever we like with it. Because it's our money. There are too many bank apologists on this forum. A vast majority of banking customers are normal legitimate customers. We should not have to jump through hoops to use our hard-earned money.

Which you place in the bank for safe keeping. So they have a duty of care to protect that money. Bet if you got scammed, you expect the bank to pay it back?
You can do what you like with it so long as it's legal.

Rules are not set by the banks the FCA & government set them. Banks just have to follow them or get fined.

If you do not like it, then keep it under the mattress. 

Even staff who work in these banks have to comply with the KYC rules, & have to prove ID etc...

subjecttocontract

pochisoldi said:

Look at this from a different angle.
Some random person purporting to be you has been trying to deal with the mortgage and/or the property.
Nationwide have been alerted. 
Nationwide want you (as the person who lives in the property) to prove who you are, so that they know that they are dealing with the right person.
Nationwide now know who to deal with.

If you prove your identity now, that fraudsters attempt to impersonate you, and sell the property from under your feet  whilst clearing the mortgage gets defeated.

I suggest that after satisfying the Nationwide, you visit the Land Registry website and setup an email alert on your property - costs nothing and you get an email every year confirming what is setup if nothing happens.
I've got alerts on my close family's properties as well as my own - this meant that I could tell my Mum that her house sale was about to complete before she even got a phone call from the solicitor.

PochiSoldi

For those who are interested you can set up an alert for free at:

http://gov.uk/protect-land-property-from-fraud