Investec

mills112

Barkin said:

mills112 said:

ColdIron said:

Investec also has a linked current account. You'll find that most banks and building societies require enhanced ID checks these days. Once you have supplied these you won't need to provide them in future

i guess i am being paranoid but i have lots of savings accounts and i have never been asked to show ID or take a selfie.  they are all linked to my current account with natwest, which means money can only be paid to my natwest current account and top up can only be funded from there.

i feel that is a safer arrangement than giving my ID to an online bank like this that is an international bank and not a high street one.

It's not an either/or situation.

Once set up, Investec work exactly like your other savings accounts - a linked current account, that's the only way of getting money in/out.

The current climate in financial services means that they're required to verify that the person opening the account is who they say they are.
Chances are that, these days, you'll need to go through a similar process with any financial institution that you don't already have a relationship with.

i think because they also do current accounts, they ask for ID.  others like al ryan, shawbrook, close brothers etc don't do current accounts, only savings accounts so they rely on your ID already being processed on your current account so don't need additional ID checks.

mills112

ToastLady said:

I opened their fixed saver last Thursday. I was still able to sign in as I'd used them before, but didn't have any active accounts with them, which was really handy. Presumably they asked for ID when I first opened an account with them. Many savings accounts now do ask for ID for new custom.
Bear in mind that you only have 7 days to fund the account. 
I'd opened the account to fund with an AlRayan fixed which matures on 19th, as a slightly better rate than was being offered. Used funds from elsewhere, just in case Investec account not available later in the month.

i guess i am being paranoid and it is fine to give them my ID data.  famous last words before my account gets hacked and i lose my money!

ToastLady

mills112 said:

ToastLady said:

I opened their fixed saver last Thursday. I was still able to sign in as I'd used them before, but didn't have any active accounts with them, which was really handy. Presumably they asked for ID when I first opened an account with them. Many savings accounts now do ask for ID for new custom.
Bear in mind that you only have 7 days to fund the account. 
I'd opened the account to fund with an AlRayan fixed which matures on 19th, as a slightly better rate than was being offered. Used funds from elsewhere, just in case Investec account not available later in the month.

i guess i am being paranoid and it is fine to give them my ID data.  famous last words before my account gets hacked and i lose my money!

Your funds can only be payed into your linked account, assuming that you don't hold any other accounts with them. 

mills112

ToastLady said:

mills112 said:

ToastLady said:

I opened their fixed saver last Thursday. I was still able to sign in as I'd used them before, but didn't have any active accounts with them, which was really handy. Presumably they asked for ID when I first opened an account with them. Many savings accounts now do ask for ID for new custom.
Bear in mind that you only have 7 days to fund the account. 
I'd opened the account to fund with an AlRayan fixed which matures on 19th, as a slightly better rate than was being offered. Used funds from elsewhere, just in case Investec account not available later in the month.

i guess i am being paranoid and it is fine to give them my ID data.  famous last words before my account gets hacked and i lose my money!

Your funds can only be payed into your linked account, assuming that you don't hold any other accounts with them. 

after reading comments, i have decided to go ahead and open an account with them   

ColdIron

Good choice

Barkin

mills112 said:

Barkin said:

mills112 said:

ColdIron said:

Investec also has a linked current account. You'll find that most banks and building societies require enhanced ID checks these days. Once you have supplied these you won't need to provide them in future

i guess i am being paranoid but i have lots of savings accounts and i have never been asked to show ID or take a selfie.  they are all linked to my current account with natwest, which means money can only be paid to my natwest current account and top up can only be funded from there.

i feel that is a safer arrangement than giving my ID to an online bank like this that is an international bank and not a high street one.

It's not an either/or situation.

Once set up, Investec work exactly like your other savings accounts - a linked current account, that's the only way of getting money in/out.

The current climate in financial services means that they're required to verify that the person opening the account is who they say they are.
Chances are that, these days, you'll need to go through a similar process with any financial institution that you don't already have a relationship with.

i think because they also do current accounts, they ask for ID.  others like al ryan, shawbrook, close brothers etc don't do current accounts, only savings accounts so they rely on your ID already being processed on your current account so don't need additional ID checks.

I don't really understand what you're saying there.

Correction welcome, but I don't think Investec do UK current accounts in the same way as, say, a mainstream or High Street bank does.

I think what Coldiron was referring to is that you need to link an Investec savings account to a single current account elsewhere, just like you've done before with your NatWest account.

mills112

Barkin said:

mills112 said:

Barkin said:

mills112 said:

ColdIron said:

Investec also has a linked current account. You'll find that most banks and building societies require enhanced ID checks these days. Once you have supplied these you won't need to provide them in future

i guess i am being paranoid but i have lots of savings accounts and i have never been asked to show ID or take a selfie.  they are all linked to my current account with natwest, which means money can only be paid to my natwest current account and top up can only be funded from there.

i feel that is a safer arrangement than giving my ID to an online bank like this that is an international bank and not a high street one.

It's not an either/or situation.

Once set up, Investec work exactly like your other savings accounts - a linked current account, that's the only way of getting money in/out.

The current climate in financial services means that they're required to verify that the person opening the account is who they say they are.
Chances are that, these days, you'll need to go through a similar process with any financial institution that you don't already have a relationship with.

i think because they also do current accounts, they ask for ID.  others like al ryan, shawbrook, close brothers etc don't do current accounts, only savings accounts so they rely on your ID already being processed on your current account so don't need additional ID checks.

I don't really understand what you're saying there.

Correction welcome, but I don't think Investec do UK current accounts in the same way as, say, a mainstream or High Street bank does.

I think what Coldiron was referring to is that you need to link an Investec savings account to a single current account elsewhere, just like you've done before with your NatWest account.

they seem to do current accounts for private clients

https://www.investec.com/en_gb/individuals/bank-accounts.html?link=Bank+accounts+overview&section=Individuals&category=Bank+accounts

Barkin

mills112 said:

Barkin said:

mills112 said:

Barkin said:

mills112 said:

ColdIron said:

Investec also has a linked current account. You'll find that most banks and building societies require enhanced ID checks these days. Once you have supplied these you won't need to provide them in future

i guess i am being paranoid but i have lots of savings accounts and i have never been asked to show ID or take a selfie.  they are all linked to my current account with natwest, which means money can only be paid to my natwest current account and top up can only be funded from there.

i feel that is a safer arrangement than giving my ID to an online bank like this that is an international bank and not a high street one.

It's not an either/or situation.

Once set up, Investec work exactly like your other savings accounts - a linked current account, that's the only way of getting money in/out.

The current climate in financial services means that they're required to verify that the person opening the account is who they say they are.
Chances are that, these days, you'll need to go through a similar process with any financial institution that you don't already have a relationship with.

i think because they also do current accounts, they ask for ID.  others like al ryan, shawbrook, close brothers etc don't do current accounts, only savings accounts so they rely on your ID already being processed on your current account so don't need additional ID checks.

I don't really understand what you're saying there.

Correction welcome, but I don't think Investec do UK current accounts in the same way as, say, a mainstream or High Street bank does.

I think what Coldiron was referring to is that you need to link an Investec savings account to a single current account elsewhere, just like you've done before with your NatWest account.

they seem to do current accounts for private clients

https://www.investec.com/en_gb/individuals/bank-accounts.html?link=Bank+accounts+overview&section=Individuals&category=Bank+accounts

Yes, they do. However...

---x---

Client eligibility

• Minimum yearly earnings of £300k
• Minimum net worth of £3m
• UK resident

---x---

...is not what I'd call a mainstream current account for the man on the street.

mills112

Barkin said:

mills112 said:

Barkin said:

mills112 said:

Barkin said:

mills112 said:

ColdIron said:

Investec also has a linked current account. You'll find that most banks and building societies require enhanced ID checks these days. Once you have supplied these you won't need to provide them in future

i guess i am being paranoid but i have lots of savings accounts and i have never been asked to show ID or take a selfie.  they are all linked to my current account with natwest, which means money can only be paid to my natwest current account and top up can only be funded from there.

i feel that is a safer arrangement than giving my ID to an online bank like this that is an international bank and not a high street one.

It's not an either/or situation.

Once set up, Investec work exactly like your other savings accounts - a linked current account, that's the only way of getting money in/out.

The current climate in financial services means that they're required to verify that the person opening the account is who they say they are.
Chances are that, these days, you'll need to go through a similar process with any financial institution that you don't already have a relationship with.

i think because they also do current accounts, they ask for ID.  others like al ryan, shawbrook, close brothers etc don't do current accounts, only savings accounts so they rely on your ID already being processed on your current account so don't need additional ID checks.

I don't really understand what you're saying there.

Correction welcome, but I don't think Investec do UK current accounts in the same way as, say, a mainstream or High Street bank does.

I think what Coldiron was referring to is that you need to link an Investec savings account to a single current account elsewhere, just like you've done before with your NatWest account.

they seem to do current accounts for private clients

https://www.investec.com/en_gb/individuals/bank-accounts.html?link=Bank+accounts+overview&section=Individuals&category=Bank+accounts

Yes, they do. However...

---x---

Client eligibility

• Minimum yearly earnings of £300k
• Minimum net worth of £3m
• UK resident

---x---

...is not what I'd call a mainstream current account for the man on the street.

then i don't know why they are asking for ID as I have never been asked for ID by anyone else before and I have opened a few savings accounts this year already.

the only bank that asks to see ID is the one where I have opened a current account.

DRS1

mills112 said:

Barkin said:

mills112 said:

Barkin said:

mills112 said:

Barkin said:

mills112 said:

ColdIron said:

Investec also has a linked current account. You'll find that most banks and building societies require enhanced ID checks these days. Once you have supplied these you won't need to provide them in future

i guess i am being paranoid but i have lots of savings accounts and i have never been asked to show ID or take a selfie.  they are all linked to my current account with natwest, which means money can only be paid to my natwest current account and top up can only be funded from there.

i feel that is a safer arrangement than giving my ID to an online bank like this that is an international bank and not a high street one.

It's not an either/or situation.

Once set up, Investec work exactly like your other savings accounts - a linked current account, that's the only way of getting money in/out.

The current climate in financial services means that they're required to verify that the person opening the account is who they say they are.
Chances are that, these days, you'll need to go through a similar process with any financial institution that you don't already have a relationship with.

i think because they also do current accounts, they ask for ID.  others like al ryan, shawbrook, close brothers etc don't do current accounts, only savings accounts so they rely on your ID already being processed on your current account so don't need additional ID checks.

I don't really understand what you're saying there.

Correction welcome, but I don't think Investec do UK current accounts in the same way as, say, a mainstream or High Street bank does.

I think what Coldiron was referring to is that you need to link an Investec savings account to a single current account elsewhere, just like you've done before with your NatWest account.

they seem to do current accounts for private clients

https://www.investec.com/en_gb/individuals/bank-accounts.html?link=Bank+accounts+overview&section=Individuals&category=Bank+accounts

Yes, they do. However...

---x---

Client eligibility

• Minimum yearly earnings of £300k
• Minimum net worth of £3m
• UK resident

---x---

...is not what I'd call a mainstream current account for the man on the street.

then i don't know why they are asking for ID as I have never been asked for ID by anyone else before and I have opened a few savings accounts this year already.

the only bank that asks to see ID is the one where I have opened a current account.

I seem to recall Ulster Bank asking for ID when I opened the Limited Access Saver including a photo to show you were alive.  But at least they let you use the camera on your computer.  Investec seem to want you to use a Smartphone.  Since my phone is decidedly not smart that means I can't open the account.