Santander - We need important information from you

550006000

35har1old said:

550006000 said:

CliveOfIndia said:

550006000 said:

Nasqueron said:

They are following the Know Your Customer requirements from the FCA, either supply the documents (which they won't sell, they will simply use to verify your ID) or you don't and they close your account and may explore options to get rid of you from the mortgage too

to me it's incredibly intrusive so puts me on edge on why they need it.

As Nasqueron says, all banks are required to carry out KYC checks, and they can face some pretty hefty penalties if they fail to do so.  I've heard anecdotally that Santander are perhaps rather more zealous than some others in their interpretation of the requirements, but essentially they're just following the rules mandated by the FCA.

Happy to send my I'd bank statement, but they're requesting payslips for 12 months. Requesting details of any trades or investment. Details of my pension. Also details of my qualifications / degree. Property sale.. Etc Just all incredibly intrusive for a bit of I.D checks. 


I'm happy to close my current account with them. But would there be any effect or my mortgage or credit if I don't respond to them? 

Sounds like a scam

I went to the bank directly and the letter is legit 

johnthebaker

Hi 

both myself and my wife are retired been with Santander for 40 years 
only receive pension payments and small rental income 

they asked us for the information as your post 
we submitted all they asked for and they then blocked our account 

yesterday I asked them to close the account and release my funds 

this was done immediately 

all they want is to close down your account 

clearly they don’t value your custom 

good luck 

Thinkandgrow1

They did this to me. Blocked my ltd company business account, current account, credit card. They are unreal. Took me 2 hours on the phone going through nearly a hundred transactions then supplying all manor of docs to satisfy them.

padstewart

I'm having the same issue using the mobile app. I have two small pensions going into my account (which they can see) which is my only source of income and they want me to provide ID, yearly incomeand where from. All this information is obvious and in their systems. They say that my mobile app will be affected if I dont provide what they want. I have been with them for approx 30 years and have provided passport ID recently for withdrawal which they must still have. If this is how they are going to perform I dont need the app and am thinking about leaving them.

bengal-stripe

I had the same request coming through the Santander app some six weeks ago.

It sounded very daunting but it turned out to be quite simple. Most of the personal things like name, DOB, address are already filled in; you just have to confirm them, or in the case there are changes give the new information. When it comes to income, there are a dozen or so choices for the source of your income: just click "Pension". For the monthly amount take your weekly payment, multiply by 52 and divide by 12.

Once I had plowed my way through the form, I was advised that I did not need to send in any documents to prove the correctness of any statement in the form.

Bob's your uncle!