Trading 212 Cash ISA - Borderline discriminatory???

SnarkyPuppy

Hi All, 

First posting newbie here. Just wanted to convey my disappointment with the Trading 212 service. After helping my elderly mum with her accounts after she has been in hospital for over a month with a life altering condition I wanted to help her and make her money work for her by transferring her current ISA to the top rated one on MSE which was Trading 212. Upon registering we came to the verify your identity section to which you need a valid passport or drivers licence. My mum has niether. I went on the online chat, explained that my mum is 84 years old and now wheelchair bound and is there any other proof of ID they would accept. I was told no and, "Would you be open to applying for a passport or drivers licence?" I thought that was a bit cheeky given her age and condition. I understand your identity needs to be verified but surely there can be some other (albeit more complicated) way without confining it to only 2 forms of ID that people may not need/want.

I was more disappointed at the fact my mum has worked all her life, saved well and when we find her a good deal it's not avaiable to her through no fault of her own. I'm sure this isn't legally classed as discrimination but it feels like the same ballpark.

Trading 212 you could do much better to help the elderly population in these circumstances.

MeteredOut

You're right it's not legally discriminatory as there is no protected right being discriminated against.

T212 can choose to only accept customers that have either a drivers licence or a passport.

Is your mum happy to deal with an online only ISA provider with no phone support?

born_again

Do you have POA for her?
Does she pay tax? If not then is a ISA the best place for her savings?

Isthisforreal99

Nothing cheeky about the suggestion made

They are an online only entity and have no interest in any other (as you admit more complicated which equals more expense) means. They can offer the rates they can by verifying digitally.

It's not even just online only banks doing it now. Had same with Santander on a recent application.

Ayr_Rage

Requirements for all banks have been tightened up so they have to confirm identity.

It is not discriminatory, it's a fact of life especially with online applications, T212 are not alone.

We'll all have to get used to doing it until the opposition to national ID cards wanes.

I am married to someone from a country where ID cards are mandatory and it makes life so much easier for them, of course there are some undocumented migrants and illegals in the cash economy, as there are here, but overall the system works well.

friolento

You and your mum could campaign for digital ID 😇

EssexHebridean

There isn’t any requirement for them to only accept passport and driving incense though - there are plenty of other forms of ID they could accept if they wished. Ultimately it comes down to their choice as said - and if their choice is to exclude a chunk of the population in this way, then I’d suggest that they are probably not an appropriate place for those people to save in any event, and their business would be better taken elsewhere. Unfortunate for those affected, but perhaps always as well to know where you are not wanted! 

Isthisforreal99

EssexHebridean said:

There isn’t any requirement for them to only accept passport and driving incense though - there are plenty of other forms of ID they could accept if they wished. Ultimately it comes down to their choice as said - and if their choice is to exclude a chunk of the population in this way, then I’d suggest that they are probably not an appropriate place for those people to save in any event, and their business would be better taken elsewhere. Unfortunate for those affected, but perhaps always as well to know where you are not wanted! 

An 84 year old isn't really in Trading 212's target demographic. Much like an 18 year old isn't Saga's......for example.

dunstonh

I was more disappointed at the fact my mum has worked all her life, saved well and when we find her a good deal it's not avaiable to her through no fault of her own. I'm sure this isn't legally classed as discrimination but it feels like the same ballpark.

Not even close to any definition of discrimination.

Digital platforms use digital methods.      Digital only reduces costs and allows better terms.    If they start catering for non-digital customers, the terms would not be as good.

Trading 212 you could do much better to help the elderly population in these circumstances.

Why should they?
Their product and systems are not aimed at non-digital customers.  
Effectively, your mum is not in their target market.  So, why should other digital customers bear the extra costs required to cater to non-digital customers?

Exodi

SnarkyPuppy said:

I was more disappointed at the fact my mum has worked all her life, saved well and when we find her a good deal it's not available to her through no fault of her own.

I think this phrase has been used so many times as justification against all manner of things that it has largely lost it's meaning at this point.

Forgive me, but what has your mum working all of her life got to do with her inability to adhere to T212's ID checks? Is the suggestion that the longer you work, the less checks should be performed on you?

It's not just T212 that will have an issue from having no driving license or passport, they just happen to be the one you applied for. I suspect you'll be in for a shock when you realise they are certainly not the exception.

It's hard to see whose fault you think it is? You seem to want your cake and eat it - the service of a fully equipped financial institution, with the rates of a digital institution. 

HedgehogRulez

Sounds like a you (and your mum’s) issue and not the platform’s.

You could similarly claim that 18-30 holidays aren’t marketing cultural tours to your mum to encourage her custom…