Can any of you out there suggest why First Direct need to know my annual income and my employer's details when I apply to them not for credit but for their e-cash ISA?
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14 years ago
Cash ISA: Why do First Direct need to know..?
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- posted
14 years ago
They don't need to know. They want to know so they know what they can try and cross-sell you.
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- posted
14 years ago
Not 100% sure on this one but it is probably something to do with the tax requirements. On ISA's you have an annual investment limit of
7,200.- Vote on answer
- posted
14 years ago
This is the set procedure and you can't keep your self away from it.
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- posted
14 years ago
First Direct don't need to know. You can have an ISA and deposit up to the government limits regardless your salary. Pensions have limits depending on your salary.
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- posted
14 years ago
The thing is, they seem to _want_ to know, even if they don't strictly _need_ to know, and presumably they do not entertain an application in which these are not divulged.
My hunch is that they would blame money laundering regulations, but that in reality it's all about potential cross-selling, as an earlier poster suggested.
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- posted
14 years ago
Just make sure you write to them after accounts are opened forbidding them to send you any marketing materials by phone, email, letter, carrier pigeon etc