Bank wants to know if I have another bank accnt

It proves that you have the income comming in that you say you did on the form you filled out.

I think you find most banks ask for this now.

I was aked this a couple of years ago. My reply was "Of course, because if I kept all my money in one place then the tax man, the vat man, my partner, my ex wife, ex wife's solicitor, ex wife's accountant etc. etc. would all be able to track down my finances. No I am not telling you where the other accounts are, that would defeat the purpose." After a lengthy silence I was not asked any more questions. Tell him to mind his own business.

Unless, like Citibank, for example, they don't have a requirement for you to pay your salary/income into the account.

Jon

It may not be so simple now. The current money laundering regulations might well mean the bank would not open an account and if they did they might well report it.

No kidding? Read the context in which I wrote the above. I said it to shut up a nosey bank manager and it worked.

A rather naive belief, I'm afraid. The tax man can find out most or all of this stuff (provided it's not offshore) trivially easily. "Money laundering regulations" and a number of other measures laid the groundwork for all that.

Jon

In message , Jon S Green writes

The end is in sight for that too. July 2005 is your last chance (although this date may slip)

In my case, I am not trying to evade any legal tracking for tax etc - simply that I don't like the idea of one bank seeing my account with another bank.

Another reason is that should, by some means, my account with one bank run into trouble (say by misuse of my credit card details which must now exist all over the world due to many legal internet transactions) then I have some kind of "firewall" that stops the bank using my money to patch it up.

Presumably each bank has independent means of tracking accounts for legal purposes - so why do they *really* need to know such information. Someone mentioned Citibank - maybe worth seeing what they offer...

Fair enough -- but it wasn't clear (to a dispassionate observer) that it wasn't a statement of your genuine beliefs.

Jon

Without a hint of irony, Jon S Green astounded uk.finance on 17 Aug 2004 by announcing:

Even if they do, what's wrong with payslips?

What's going to happen?

In message , John-Smith writes

Initially a 'Retention' tax deducted from the interest creditted to the offshore account at source. In due course the offshore bank will have to tell the UK authorities (in fact all the EU member revenue department) the amount of interest paid.

Presumably this will drive people who want confidentiality **from the tax authorities** (perhaps for tax evasion reasons) further offshore?

I can't help thinking that all these measures are aimed at making it harder for Joe Public setting up a bank account at the Woolwich in Guernsey and not declaring the interest received to the Revenue.

Anybody with initiative is going to set up a different identity, with an address outside the EU. And anyone doing it with large amounts will use a nominee company, which won't be in the Channel Islands :)

In message , John-Smith writes

Yes, but sadly international money laundering rules are becoming all embracing, including Delaware!