letter from Santander asking for a lots of information

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aralexiao
aralexiao Posts: 6 Forumite
in Budgeting & bank accounts
I received a letter from Santander yesterday, it says it want to keep all their information up to date and want me to provided. The form attached called customer information details, they asked for the following:

1. two forms of ID
2. employment details with payslips
3. rental information with rental agreement to support it
3. property sales details with sales contract or title of deeds
4. business details with accountant letter or company accounts
5. savings
6. inheritance
7. inventment
etc etc

not just the information they want, but also you have to send evidence to support you.

this is a lot of information to ask. has anyone received the same letter, could you please share your story.

Many thanks
«134567

Comments

  • Zanderman
    Zanderman Posts: 4,684 Forumite
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    More detail than normally asked for

    What sort of account do you have with Santander? (Or what are you applying for?)

    Personal current account?
    Business account?
    Mortgage account?
    Other sort of loan?
  • aralexiao
    aralexiao Posts: 6 Forumite
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    I banked with them for about 10 years now with existing current, saving and mortgage.’I didn’t apply for anything lately. Just received the letter
  • tacpot12
    tacpot12 Posts: 7,972 Forumite
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    Banks are required by the regulators to know their customers (KYC). The letter is probably part of a KYC exercise that Santander are running. Chances are many other customers have received the same letter. Hopefully you will get to hear their stories.
    The comments I post are my personal opinion. While I try to check everything is correct before posting, I can and do make mistakes, so always try to check official information sources before relying on my posts.
  • SnowTiger
    SnowTiger Posts: 4,461 Forumite
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    aralexiao wrote: »
    I received a letter from Santander yesterday, it says it want to keep all their information up to date and want me to provided. The form attached called customer information details, they asked for the following:

    1. two forms of ID
    2. employment details with payslips
    3. rental information with rental agreement to support it
    3. property sales details with sales contract or title of deeds
    4. business details with accountant letter or company accounts
    5. savings
    6. inheritance
    7. inventment
    etc etc

    not just the information they want, but also you have to send evidence to support you.

    this is a lot of information to ask. has anyone received the same letter, could you please share your story.

    That's a lot of information they're asking for.

    Is there something unusual about the way you operate your account/accounts?

    Lots of (large) deposits and withdrawals? Sending lots of money abroad? Bitcoins? Are you using a personal account for business purposes?

    It seems odd they're asking for your employment details and your business details with accountant letter or company accounts.
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
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    Have you contacted the bank to make sure it’s a genuine legitimate request?

    Don’t call the number on the letter obviously.

    Or better yet take it into a branch
  • aralexiao
    aralexiao Posts: 6 Forumite
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    No, nothing special. I use the account to receive rental income and pay for rental expenses. I called them today, was told they are complying with FCA requirements. It will spread to all their customers eventually. The information I listed was on a form, you only fill the part which is relevant.
  • aralexiao
    aralexiao Posts: 6 Forumite
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    And I spoke with the bank, it is genuine, not scam. I just want to see whether anyone else has received the same letter
  • Zanderman
    Zanderman Posts: 4,684 Forumite
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    aralexiao wrote: »
    No, nothing special. I use the account to receive rental income and pay for rental expenses. I called them today, was told they are complying with FCA requirements. It will spread to all their customers eventually. The information I listed was on a form, you only fill the part which is relevant.

    So this is a Business account? Which makes a bit of difference to what they need to know.

    And if they say only fill in the relevant bits it means much of what you listed isn't, really, what they're asking for?

    So this is rather less worrying/exciting and intrusive than it first appears?

    Indeed probably not really worrying at all?
  • aralexiao
    aralexiao Posts: 6 Forumite
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    It is for personal account. The form listed all the section and ask you to provide information relevant to you, eg if you have employement income, provide details and payslip, if you have rental income, provide details and rental agreement, if you sold a property, provide sales contract etc.
  • alphabravocharli
    alphabravocharli Posts: 90 Forumite
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    I am not sure but it might be if you are not doing self assessment for rental income or any income by buying and selling property.
    aralexiao wrote: »
    It is for personal account. The form listed all the section and ask you to provide information relevant to you, eg if you have employement income, provide details and payslip, if you have rental income, provide details and rental agreement, if you sold a property, provide sales contract etc.
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