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  • FIRST POST
    • michael1234
    • By michael1234 12th Jan 18, 3:15 PM
    • 143Posts
    • 59Thanks
    michael1234
    Bought by InteractiveInvestor and now I can't leave
    • #1
    • 12th Jan 18, 3:15 PM
    Bought by InteractiveInvestor and now I can't leave 12th Jan 18 at 3:15 PM
    Hi

    SO I was with TD Waterhouse for a long time and they sold it to II. I found out the fees were going to increase so decided to move my portfolio to another provider.
    Then I realized the name held by II was slightly wrong. After two phone calls, a secure mesage and a week later they told me I needed to send in a certified copy of my passport and they provided me this link:
    https://www.gov.uk/certifying-a-document

    I subsequently obtained a copy from a professional person. I've now just received a letter saying that it needs to be certified by a solicitor or notary public only!

    They also won't accept the original passport.

    Is there anything I can do since it is not cost effective for me to pay a solicitor for this. Could I sell my shares, close the II account and rebuy them in the new account, then take II to the small claims for the difference - but not really sure on what basis. It just "feels" like they are deliverably being difficult to prevent me leaving.

    I have had to do this with all my other accounts including bank accounts and investments and none have been so difficult.
Page 1
    • ColdIron
    • By ColdIron 12th Jan 18, 3:32 PM
    • 4,254 Posts
    • 5,383 Thanks
    ColdIron
    • #2
    • 12th Jan 18, 3:32 PM
    • #2
    • 12th Jan 18, 3:32 PM
    I'm curious as to how your name could be 'slightly wrong' on all your other accounts including bank accounts and investments. Who certified your passport? Is there more to this than meets the eye?

    If your investments are held within an ISA there may be restrictions on how much you can reinvest in any one year and you will incur transaction costs that may outweigh the cost of certification. I doubt you can take them to court unless you can prove wrong doing on their part. It's unlikely they are being deliberately difficult, more probably they are just following guidance
    • Linton
    • By Linton 12th Jan 18, 3:34 PM
    • 9,392 Posts
    • 9,526 Thanks
    Linton
    • #3
    • 12th Jan 18, 3:34 PM
    • #3
    • 12th Jan 18, 3:34 PM
    A solicitor's certification should be a minimal charge. Just pop in to any high street solicitor. A solicitor could be sued, or worse, if he certified a copy of a passport where the photo's didnt match.

    Would you be upset with ii if they didnt carry out proper security checks when someone asked them to transfer your investments elsewhere?

    Are you being a little silly?
    • michael1234
    • By michael1234 12th Jan 18, 3:38 PM
    • 143 Posts
    • 59 Thanks
    michael1234
    • #4
    • 12th Jan 18, 3:38 PM
    • #4
    • 12th Jan 18, 3:38 PM
    A solicitor's certification should be a minimal charge. Just pop in to any high street solicitor. A solicitor could be sued, or worse, if he certified a copy of a passport where the photo's didnt match.

    Would you be upset with ii if they didnt carry out proper security checks when someone asked them to transfer your investments elsewhere?

    Are you being a little silly?
    Originally posted by Linton
    About the small claims? Possibly. I'm just a bit annoyed I suppose.
    • michael1234
    • By michael1234 12th Jan 18, 3:42 PM
    • 143 Posts
    • 59 Thanks
    michael1234
    • #5
    • 12th Jan 18, 3:42 PM
    • #5
    • 12th Jan 18, 3:42 PM
    I'm curious as to how your name could be 'slightly wrong' on all your other accounts including bank accounts and investments. Who certified your passport? Is there more to this than meets the eye?
    Originally posted by ColdIron
    The same person that certified my photographs for my passport.

    And no there is nothing more to this than meets the eye. What sort of thing did you have in mind?

    Its interesting that none of these places require you to jump through these hoops when you open an account with them. Only when you want to move your money out.
    • Radiantsoul
    • By Radiantsoul 12th Jan 18, 3:53 PM
    • 1,996 Posts
    • 1,989 Thanks
    Radiantsoul
    • #6
    • 12th Jan 18, 3:53 PM
    • #6
    • 12th Jan 18, 3:53 PM
    To be fair it would be annoying if they made it easy for anyone to just remove the money.

    The post office can certify documents for 10.50, solicitors will do it for a similiar sum.
    • michael1234
    • By michael1234 12th Jan 18, 4:45 PM
    • 143 Posts
    • 59 Thanks
    michael1234
    • #7
    • 12th Jan 18, 4:45 PM
    • #7
    • 12th Jan 18, 4:45 PM
    To be fair it would be annoying if they made it easy for anyone to just remove the money.

    The post office can certify documents for 10.50, solicitors will do it for a similiar sum.
    Originally posted by Radiantsoul
    Thanks for the info about the post office - useful for the future. I think they wouldn't accept that though because the person in the post office isn't "regulated by the FCA".

    One thing that bugs me is that they sent me that link about how to get a certified copy and that link shows a list of professions that can act as the signatory. Only when they received my "certified copy" did they then ask that it be signed by a solicitor.

    I do agree it shouldn't be that easy to withdraw all the money but bare in mind I already have full access to the online account so can do what I like (except emptying it to a rival broker via ISA transfer due to a name issue). Also they've not asked for any proof regarding the current name they hold for me. So in theory I could be anyone.

    I've had to do this for a number of other accounts and so far most have accepted scanned passport copies via email and one needed an original birth certificate by post.
    • MallyGirl
    • By MallyGirl 12th Jan 18, 4:52 PM
    • 2,733 Posts
    • 7,744 Thanks
    MallyGirl
    • #8
    • 12th Jan 18, 4:52 PM
    • #8
    • 12th Jan 18, 4:52 PM
    I am having a name issue with an ancient company pension that I want to transfer into my SIPP. I haven't paid into this pension for nearly 20 years and only when I came to ask for the transfer did I notice that it had been setup in my nickname rather than my full given name - like Jim instead of James. They want my original passport and marriage certificate to verify my name - certified copies of any sort will not do. Such a pain - I obviously didn't provide original documentation for the nickname since I don't have any, it is just how everyone knows me.
    • Radiantsoul
    • By Radiantsoul 12th Jan 18, 5:06 PM
    • 1,996 Posts
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    Radiantsoul
    • #9
    • 12th Jan 18, 5:06 PM
    • #9
    • 12th Jan 18, 5:06 PM
    I am not sure why it would need to be certified by a solicitor rather than any other profession, but Interactive Investor do have terrible customer service. So who knows?
    • Malthusian
    • By Malthusian 12th Jan 18, 5:38 PM
    • 4,236 Posts
    • 6,667 Thanks
    Malthusian
    I am not sure why it would need to be certified by a solicitor rather than any other profession, but Interactive Investor do have terrible customer service.
    Originally posted by Radiantsoul
    Because they want to stop the OP accessing his money.

    There is no law or regulation whatsoever even implying that only a solicitor can certify proof of ID. They're making it up.

    A formal complaint may be worth trying, but as it could take over a year to resolve if the OP has to go all the way to the Ombudsman, popping in to a solicitor's office may be preferable.

    Or he could always pay a solicitor to do it, then make a formal complaint and demand II reimburse him for the cost. The need to pay a solicitor is, after all, entirely down to them. Just bear in mind that you can't guarantee being out of pocket if II refuse to pay up and the Ombudsman decide that insisting on a solicitor's certification was a reasonable request.
    • Uxb
    • By Uxb 12th Jan 18, 9:18 PM
    • 1,069 Posts
    • 1,129 Thanks
    Uxb
    I'm an executor of a recently deceased person:

    I have had to provide ID either as a certified copy of a passport plus original of an address verification or if in person sight of the original passport to:
    The deceased's IFA,
    Their accountant
    The solicitor who will be handling the estate
    RICS surveyor for house valuation for probate
    Post office counter clerk for postal redirection of the deceased's letters.
    Also the death registrar when registering it.
    I think that is the list and it's a lot of times I've been supplying my ID (passport plus 2 utility bills/bank/credit card statements).

    In this case they are likely to want a solicitor as a solicitor is a regulated person who will themselves be approved to handle clients money and will have a FSA authorisation number....ie they are traceable if the police or serious fraud office come calling.
    That's why some don't accept the post office's certification service because the PO counter clerk will not themselves be FSA regulated/authorised.
    There is indeed no law that requires a solicitor to be the countersigned however they can create any additional requirements like this if they want provided it it reasonable
    Having for example a public notary countersign which would be VERY much more expensive would I guess not be reasonable.
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