KYC Santander

boingy

It all seems very badly targeted to me. Long standing customers are much less likely to be up to anything dodgy. There are exceptions, of course, but banks would be much better off focussing on newer account holders and unusual transactions.

If my bank asked me for all that stuff I'd move bank.

wiseonesomeofthetime

subjecttocontract said:

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.

I would probably do the same tbf.

Except I have accounts open at many other providers already, so just a ta-ra to Santander.

Neil49

I was thinking of switching to them for the £185 cashback but this has put me off. 

Bigwheels1111

This has been covered many times on here.
I would find a number for them off a statement or bank card to call and check.

You only have 2 options, bow down and give everything they want.
And do it quickly, if you’re too slow your accounts will be locked.

Option 2, leave and take your business elsewhere.
Having issues with TSB wanting more details than I possess.
Passport, no. Licence, no. Household bills, no. Council tax, no. G&E bills, no.
What fun it is.

Sea_Shell

Bigwheels1111 said:

This has been covered many times on here.
I would find a number for them off a statement or bank card to call and check.

You only have 2 options, bow down and give everything they want.
And do it quickly, if you’re too slow your accounts will be locked.

Option 2, leave and take your business elsewhere.
Having issues with TSB wanting more details than I possess.
Passport, no. Licence, no. Household bills, no. Council tax, no. G&E bills, no.
What fun it is.

So if "thems the rules", we can't avoid it, no matter which bank we choose to move to?

boingy

Sea_Shell said:

Bigwheels1111 said:

This has been covered many times on here.
I would find a number for them off a statement or bank card to call and check.

You only have 2 options, bow down and give everything they want.
And do it quickly, if you’re too slow your accounts will be locked.

Option 2, leave and take your business elsewhere.
Having issues with TSB wanting more details than I possess.
Passport, no. Licence, no. Household bills, no. Council tax, no. G&E bills, no.
What fun it is.

So if "thems the rules", we can't avoid it, no matter which bank we choose to move to?

The rules are the same but the banks differ wildly in their zealotry in applying them.

Sea_Shell

boingy said:

Sea_Shell said:

Bigwheels1111 said:

This has been covered many times on here.
I would find a number for them off a statement or bank card to call and check.

You only have 2 options, bow down and give everything they want.
And do it quickly, if you’re too slow your accounts will be locked.

Option 2, leave and take your business elsewhere.
Having issues with TSB wanting more details than I possess.
Passport, no. Licence, no. Household bills, no. Council tax, no. G&E bills, no.
What fun it is.

So if "thems the rules", we can't avoid it, no matter which bank we choose to move to?

The rules are the same but the banks differ wildly in their zealotry in applying them.

So it may just take a couple of "zealots" appointed to the board of any bank, and your once "laid back" bank is no more.

gsmh

Sea_Shell said:

So it may just take a couple of "zealots" appointed to the board of any bank, and your once "laid back" bank is no more.

Yes, but a CASS switch takes 7 days. I'd do that until I'd exhausted every bank - only then would I would I put up with jumping through so many hoops to honour them with my money.

GeoffTF

This summary may be helpful:

"The FCA, in general, favors a risk-based approach, focusing on the outputs rather than specific AML laws and rules; “firms must have in place policies and procedures in relation to customer due diligence and monitoring, among others, but neither the law nor our rules prescribe in detail how firms have to do this.”

In terms of performing proper Customer Due Diligence (CDD), there are three requirements according to the 2017 updated AML regulations:

(a) identify the customer

(b) verify the customer’s identity

(c) assess, and where appropriate obtain information on, the purpose and intended nature of the business relationship or occasional transaction

While the law itself does not offer specifics, the UK Government offers a Good Practice Guide: Identity proofing and verification of an individual. The Guide specifically mentions checking an individual’s identity digitally as an option.

According to the Guide, there are five parts of identity checking:

Getting evidence of the claimed identity (“strength”)

Checking the evidence is genuine or valid (“validity”)

Checking the claimed identity has existed over time (“activity”)

Checking if the claimed identity is at high risk of identity fraud (“identity fraud”)

Determining whether the identity belongs to the person who’s claiming it (“verification”)"

https://www.trulioo.com/blog/identity-verification/kyc-uk

The degree of checking will depend on the bank and the customer. It is the extreme cases that get posted here.

RG2015

subjecttocontract said:

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.

I agree, but is this a sign of things to come from all banks?