Updating details during recent login with long-standing bank.

wotsmyname

When I recently logged into my online bank account, with whom I have a current account with a couple of direct debits and a savings accounts, I was met with the request to update my personal details.

No problem - most of the details were pre-populated and confirming the usual DOB, tax residency etc.

I'm not currently in employment, don't receive any benefits etc - just have savings and earn interest.  Looking at the list of categories, I either fall into homemaker, not employed or retired.  I think I'm not technically retired, but apparently there's no formal definition, and I don't think I'm a proper homemaker (although I do deal with some household stuff including bills!).

So I think the most relevant maybe 'not employed', but in all cases, I assume I won't be able to enter 0.00 or NIL under annual income?  My main income source would be interest on savings, which I guess includes ISAs?  Would it be reasonable to just use 2023-24's figures (just haven't compiled 2024-25's).

Would they be able to validate?  Would I also need to include premium bond winnings?

Thanks.

 

friolento

Just enter an amount you consider most appropriate. They are not able to verify it though they will keep a record of what you enter, mainly for their Marketing purposes 

x44

I'm much like the OP...

I just enter retired though I've a few years to run yet before I get to state pension age.

Very occassionally I get the opportunity in the drop down/option boxes to tick against a better description of myself which is the old fashion term "Of independent means".

You used to see this on census returns from the late 1800's under the job description of some local landed gentry.

Whatever income you state make a note of it so when you open another account with them and get asked the same question you have the same replies ready to avoid any "difficulties"

sausage_time

I too am retired and living on interest/savings/dividends/premium bond prizes/ebay sales for now.  I know what I spend per annum, so I made that up to a roundish number and use that for applications.  I "self-justify" this as the amount of "income" I am effectively taking from my assets.  Like other posters I kept a note and reuse the same figure.  Maybe in a year or so I'll re-evaluate.

friolento

x44 said:

 

Whatever income you state make a note of it so when you open another account with them and get asked the same question you have the same replies ready to avoid any "difficulties"

I know what you mean and I have used the same made-up number for the last decade over and over again but unless you apply for multiple accounts with vastly different numbers on the same day, different income figures are easy to justify.

boingy

I'd just say "retired" and enter an estimate of your "income". They won't check.

Nebulous2

You need to be consistent - particularly if applying for credit. 

Otherwise you can fall foul of National Hunter, and you don't want that. 

wotsmyname

Thanks for your comments everyone - some interesting points there.

Whilst I appreciate the need for consistency, if my main source of income is from interest, surely that'll fluctuate and be variable over time?

Also, my savings are slowing depleting (unable to even utilise 24-25's ISA allowance), earning even less interest.