KYC Santander

eskbanker

BeachNut said:

BTW you can also request for free all info Santander hold about you and ask them to remove it (see their T&Cs).

While there are generic rights available to all individuals under the Data Protection Act, that doesn't necessarily extend as far as the ability to have all data held about you removed, even when no longer a customer!

artyboy

WillPS said:

RG2015 said:

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?

I have no idea why they're being so heavy handed - but given these reports are all from people who banked with Santander (and their predecessors Abbey and Alliance Leicester) long term I suspect there's some discrepency in their core customer details which should have been established at the point accounts were opened. Possibly KYC is even a useful bit of cover for Santander so they don't have to explain otherwise why this data is needed.

I presume (hope?) that bank accounts opened recently are not going to be subject to the same sort of checks.

I've been through KYC checks elsewhere, most recently Amex. It was essentially the same kind of questions they ask at account application (salary, home ownership status etc). I gather occasionally these checks are followed up by requests for proof.

I may have mentioned it before, but I took Amex to task over their ham fisted and aggressive approach with me - admittedly it helps when you know a bit (in my case quite a bit) about KYC principles, rather than just processes. Anyway, they ended up backing down over a lot of the more intrusive questions that were definitely unnecessary, and lobbed me a bit of go away money.

I should have asked if they wanted me to come and work for them 

xylophone

Is this the same case (different poster)

https://forums.moneysavingexpert.com/discussion/6513377/santander-looking-to-freeze-bank-account

Or  is Santander on a mission to check house ownership....

penners324

Ludicrously OTT. Suggest you open another account elsewhere asap

GeoffTF

penners324 said:

Ludicrously OTT. Suggest you open another account elsewhere asap

My house is registered, so I do not expect that they would ask me anyway, but taking a few minutes to provide publicly available information would not bother me. Moving my main account would be very inconvenient and could cause me a lot of trouble.

xylophone

My house is registered, so I do not expect that they would ask me anyway, 

 In the case of poster redgem2 (referenced above) 

they bought there house 4 years ago 

So this property would also be registered (possibly first registration).

GeoffTF

xylophone said:

My house is registered, so I do not expect that they would ask me anyway, 

 In the case of poster redgem2 (referenced above)

they bought there house 4 years ago 

So this property would also be registered (possibly first registration).

No problem then. It is public knowledge who owns the house. Just confirm it.

born_again

johnthebaker said:

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

Wonder how many people have not linked these 2 together.

BooJewels

I mentioned it earlier in the thread - there are 2 properties in this case - the one they live in and the one they rent out.  I don't think the OP has specified which of those properties the request about ownership relates to - my assumption was that it was the rental property, as they wanted the rental agreement too.  I also suspect that it might be financial activity by said tenant that has been the catalyst.

johnthebaker

Now Santander have blocked my account 
so my pension is coming into the account but they won’t let me or my wife withdraw any of our funds 
this has got to be criminal activity on the part of the bank 

what am I supposed to live on 

so anyone who can justify the banks actions to do this to pensioners who have been with bank 40 years is beyond me