Egg savings asking for employer's address

tiptoe_mouse

I've been an egg customer for since they first launched, although I've left both the savings account and credit card dormant for a while as there were better deals elsewhere.

Then I was tempted back - by the egg money card for advanced stoozing, for which I applied online and was accepted. They asked for my income, as I expected.

Then I tried applying for their 6.3% savings account. They want to know the address (and phone number?) of my employer. I've messaged them to ask why, and they say it's part of anti-money laundering. It seems OTT to me for opening a savings account, especially since they didn't ask for this info for the credit card. And that's despite the fact you can have a positive balance on the card.

Anyone else experienced this? I've opened many savings accounts with different providers over the years and I've never had to give this information.

tiptoe

frugallass

I wouldn't give the information no matter what reason they give you !

debbie42

I can't remember being asked this information for a savings account recently, though I haven't applied for an Egg one. What if you weren't employed?

baldbloke_2

I was asked this question and answered it. I have been asked this before by several banks or building societies - it seems a bit strange but I can't see it as sinister.
I like Egg very much indeed. I have had savings accounts with them before and have always found their speed of dealing with any matter or transfer most impressive.
I have had an Egg Money card for some time - what a marvelous concept that is - and have happily transferred money from the Halifax to Egg to open a Savings Account at 6.30%.
Blimey - they could ask me almost anything if they are prepared to offer that rate for one year with instant access! Well ... maybe ...

YorkshireBoy

If you applied as a 'new to Egg' customer you'd have to provide the information.

If you've been with them for a while, but your accounts have also been "dormant" for a while, they're probably using the savings account application as an opportunity to update their records...especially since one of your accounts is a credit facility.

Have to say though, that in your position I'd happily provide the information requested.


PS: I'd be very surprised if a credit card application did not ask for employers details. Maybe the memory is playing tricks?

tiptoe_mouse

PS: I'd be very surprised if a credit card application did not ask for employers details. Maybe the memory is playing tricks?

Quite sure - because I don't know the details without looking them up in my papers. I applied for the card, got accepted online, then went straight to filling in the savings application, without leaving the sofa. It was only when I got to the savings application that they asked for the extra information, at which point I thought "I can't be bothered getting off the sofa to find out". I'm basically lazy.

I'm reassured that other people have been asked as well. I just somehow don't like the idea of my employer getting a phone call from egg.

tiptoe

YorkshireBoy

tiptoe_mouse wrote: »

I just somehow don't like the idea of my employer getting a phone call from egg.

It isn't going to happen though, as long as the rest of your details marry up (and concur with the Fraud Prevention Agency search results), and certainly not for a savings account.

tiptoe_mouse

Okay - I went ahead, dug out my employer's details and applied. And they didn't actually want a phone number, just an address. So that's all right then.

tiptoe

anniecave

I recently applied for a barclaycard credit card. They asked for my employers name, address, and my work phone number. I had no problem with giving the first two, but grudgingly gave the last one.

I then got a call off barclaycard to my work phone number as part of their application process asking me to confirm lots of my security information while I was at work. It's a good job I trust my work colleagues, as I work in an open plan office so we can all hear each others conversations!

SilentMinority

According to this Office of Fair Trading site regarding anti-money laundering guidance:

http://www.oft.gov.uk/news/press/2007/151-07

The bank is required to "verify customers ... nature of business". So I expect employer details would be part of that verification process.

~Chameleon~

Just ignore the employer details on the ES application, it doesn't prevent you opening the account