Santander ID and income check

friolento

I wasn’t sure whether to post this here or over on the Banking board but decided to post here as this board seems to be used more frequently.

This morning, when I logged into my Santander account which I have held since the Alliance & Leicester days, I was asked for proof of ID and for details of income. I needed my passport (other ID documents are acceptable, e.g. DL), totals of monthly income by category (employment, pension, savings, investments, rentals, online income etc), and tax residency. They want one monthly income per category, even if that income varies from month to month, such as savings interest. I have just divided my approximate annual income by 12.

Passport uploaded twice, biometric chip read (they say they keep this for 90 days), selfie required.

I could not get to my account details, make payments etc until I had completed to ID check.

This was the most extensive ID verification and income check I have ever been asked to go through by a bank. I was able to complete it in 10 minutes and hope they’ll now leave me alone - though they said it will take them 3 - 5 days to complete the process their end. They said they need to do these checks to comply with their legal KYC obligations.

I decided to share this to give people a heads up as I reckon we will see more of this sort of check, by all banks. It’s nothing to worry about but it’s a bit of an annoyance when you have to do it. The main thing is to have a valid photo ID to hand, so even if you don’t travel or drive, make sure you have a valid passport or photo DL as you might need it out of the blue.

luci

I had a Santander current account. I think it was an ISA I tried to open a few years ago. I had to take a selfie, but no matter how many times I tried, it wouldn't accept it, so I had to give up.

Ayr_Rage

I had the same yesterday even though I only have a credit card with them.

They still asked for how much you intend to pay into your account monthly so I just put £1 and that was accepted.

Confirmation email arrived within an hour and can now log in to the app.

flaneurs_lobster

So pretty much the questions/checks that are asked when you apply for a new current account at a new bank.

I've got a couple of accounts from Ye Olden Days, pretty sure they'll get round to KYJelly-ing me before long.

Not a problem when you're at home with the documents/figures to hand, about to pay for the weekly shop in the supermarket might be less fun.

GeoffTF

https://forums.moneysavingexpert.com/discussion/comment/82094816#Comment_82094816

Perhaps that is a reason for not using their app.

gould300

This happened to me a few weeks ago. I spent about three days trying and it constantly failed with a generic error either after photographing my ID or after taking a selfie. In the end I had to go into a branch where, miraculously, it worked on the first go. Utter waste of time.

Their reason for the check was "new banking regulations". None of my other banks have asked for this and at least one of them has had me for a customer for much longer so I've no idea what they've come up with.

I've now ditched them for an app-only bank who quite happily accepted the same ID and same face on the first attempt.

masonic

https://forums.moneysavingexpert.com/discussion/comment/82094861#Comment_82094861

As has been discussed in other threads, this is something that started to be rolled out in a phased manner last year, so it is likely other banks will be following suit sooner or later. But hopefully without the errors.

SJMALBA

To clarify, is this (so far) only affecting app users, and not those using 'online banking' (i.e. laptop/website)'?

eskbanker

https://forums.moneysavingexpert.com/discussion/comment/82095001#Comment_82095001

I can't think of any reason why a bank would differentiate like that, in the context of KYC obligations?

GeoffTF

https://forums.moneysavingexpert.com/discussion/comment/82095001#Comment_82095001

I use online banking but do not use mobile banking. I have not been asked yet, but I expect to be subjected to enhanced KYC in due course. AFAIK the FCA still does not allow the high street banks to compel us to have smartphones. We may have to take ID to a branch, but I do not expect it will come to that.

Asking me about income is problematic. I always assume that they mean taxable income. I expect that unsheltered dividends are investment income. Gilt coupons could be savings income or investment income. I always assume that regularly realised capital gains are not income.

SJMALBA

https://forums.moneysavingexpert.com/discussion/comment/82095121#Comment_82095121

Because what they are asking for is difficult/impractical (impossible?) via laptop/website, as opposed to smartphone/app?

It appears that what they are doing is not (yet) a legal requirement, in terms of the specifics (as opposed to KYC in general), and they are choosing to do it? In the same way that some institutions ask for ID to be provided ‘up front’ as part of the sign-up/account opening process, whereas most state that they run electronic checks, and only if they fail, will they then ask for ID to be provided.