KYC Santander

johnthebaker

Good morning 

Over the past couple of weeks both myself and my wife have received telephone calls and emails from Santander requesting information with regards to KYC 

We are a retired couple who receive private pension and house rental income 

Been with the bank over 40 years 

They have asked for proof of income, house ownership, UK tax returns, proof of pension payments, copy of rental agreement 
As well as NI number copy of passport and date of birth and what other bank accounts held and credit card statements 

Is this normal  I am a uk citizen 

First correspondence so hope you can help 

Best regards

WillPS

Yes, it's normal. Santander are particularly heavy handed with the amount of detail they seem to request.

Nothing to worry about unless it uncovers breaches of T&Cs (i.e. business activity on a personal account or similar).

Sea_Shell

That seems OTT to me.

We're long standing customers too, so I suppose we should expect similar soon too.

Maybe I should also tell them I'm a size 6 shoe.

johnthebaker

If you do tell them your shoe size they will request proof 😆

eskbanker

johnthebaker said:

If you do tell them your shoe size they will request proof 😆

They only ask about shoe size if it's a sole account, rather than a joint one....

DullGreyGuy

eskbanker said:

johnthebaker said:

If you do tell them your shoe size they will request proof 😆

They only ask about shoe size if it's a sole account, rather than a joint one....

We need a new category under the Report flag!


In 2022 banks were fined usd$55bn for failures in Know Your Customer/ Anti-Money Laundering rules globally (Source: FT), it certainly focused their minds and many banks realised their own record keeping probably wasn't up to the standard it should be hence many banks have launched exercises to refresh the evidence they are holding. 

eDicky

Best to be sure it's actually Santander to whom you provide any personal info. Fraudsters can spoof email address and phone number.

GeoffTF

It would be interesting to know whether they are asking for originals, copies or PDFs. I hope a paperless account means they will accept electronic copies, but not by email.

johnthebaker

They have asked for information PDF via a online link that they send 

GeoffTF

That is not too bad then. You just need to check that the link is authentic.

subjecttocontract

Not sure I could be bothered to spend the time & effort to provide all of the documents & info. Think I'd just go open an account elsewhere.