ID verification - Alliance & Leicester

sb1_3

Hi All
Hope this is posted on right thread if not sorry I'm new to this.

Does anyone know why Alliance & Leicester require you to provide proof of ID if you are opening an additonal account with them and do other banks request this?

I've had a A&L current account for some years and have applied for an e saver account. I've received a letter saying they need to verify the ID of applicants in "accordance with money laundering regulations". They then suggest one form of proof of address is my A&L bank statement. In other words they post out my bank statement to me and then I have to post ity back to them!! Additonally I need to get proof of ID certified.

This seems both ridiculous and unnecessary to me. When I phoned to ask why, the person I spoke to was unable to give a reason except to say that's what the bank requires but he didn't know why.

Do other banks behave like this? Does anyone know whether the "money laundering regulations" do require this?

Somerset

Don't know the answer. I'm in the process of opening an account with them and saw that on the ID verification documents. I don't have another account so no difference to me but I thought it was bizarre too.

carpetbelly

Yes, this is new legislation (well, newish) that all banks have to comply with.

I work for a bank, have my current account with the bank I work for and still have to bring in ID to open a savers account with them. It's just money laundering regulations and fraud to. It's a pain and makes no logical sense at times but then I'd probably moan more if someone tried to defraud me and wasn't asked for the ID.

Refund_Queen

Sounds good to me! I wanted to open an account with them about a year ago and they didnt ask for ANY ID at the time my application was submitted. I contacted them to say that anyone could get hold of my details and open an account in my name!! They said that that was unlikely:eek: and not to worry about it! I closed the account that they set up for me and cancelled all of the cheque books and cards that I received. Thought that was just plain stupid and would not open an account with them if you paid me!

sb1_3

Thanks for your responses. I must admit I am still not convinced by either the necessity to submit this info or the legal requirement that they are claiming. I can completely understand why you would need to do this with a new bank but when you are opening an account that will be linked to your existing accounts it makes no sense at all to me. As I can access my account over the phone and move money around by simply providing answers to a couple of security questions one would think that I could open a linked account by providing exactly the same information which, in theory, demonstrates that I am the account holder. To my mind this is bureaucracy for the sake of it.

carpetbelly

sb1 wrote: »

I must admit I am still not convinced by either the necessity to submit this info or the legal requirement that they are claiming. I can completely understand why you would need to do this with a new bank but when you are opening an account that will be linked to your existing accounts it makes no sense at all to me.

It is a legal requirement, this is not being made up but imagine if someone got hold of your details etc, they could still maybe try to intercept your mail and set something up. There are reasons for it even if they don't look to logical.

sb1 wrote: »

To my mind this is bureaucracy for the sake of it.

welcome to the world of banks!

Somerset

carpetbelly wrote: »

It is a legal requirement, this is not being made up but imagine if someone got hold of your details etc, they could still maybe try to intercept your mail and set something up. There are reasons for it even if they don't look to logical.


welcome to the world of banks!

This has got to be wrong or maybe a ''pick and mix'' with banks. I bank with Lloyds Tsb and last Sept opened a regular saver with them - no ID asked for or provided. But I thoght maybe they've tightened up. But no, I've just opened an isa with them ( transferred from another provider ) and again no ID asked for. These were both new savings accounts, but unlike A&L as an existing customer, I didn't have to provide ID docmentation.

noh

I have opened new savings accounts with A+L recently and as an existing customer have not been required to provide any ID. I did not have to provide any ID when opening the original account a Premier Direct bank account. ID verification was done electronically.
Banks are legally required to verify your identity, how they chose to do that is up to them they could request original documents, verify electronically or use their own records.
In your case it may be that ,as it is some years since you opened your original account, they feel they need to confirm the data they already hold.

Nigel

Lavendyr

I just opened the Esaver today and haven't been requested to provide any ID. I opened my PD current account with them in 2006.

Somerset

noh wrote: »

In your case it may be that ,as it is some years since you opened your original account, they feel they need to confirm the data they already hold.

Nigel

I know this was for the OP but ............ I opened my account with Lloyds 30 years ago so they certainly have no up to date ID verification, plus I've recently moved and am not on the electoral register yet. Still seems a pick and mix to me - if recent verification really is a legal requirement, not all the banks are complying.

noh

Somerset wrote: »

I know this was for the OP but ............ I opened my account with Lloyds 30 years ago so they certainly have no up to date ID verification, plus I've recently moved and am not on the electoral register yet. Still seems a pick and mix to me - if recent verification really is a legal requirement, not all the banks are complying.

It is a legal requirement and they are all complying. But all they are required to do is verify your identity to their own satisfaction. How they do that is up to them.

Nigel