Money Laundering regulations and BACS transfers

Different companies will have different interpretation of the FSA rules re money laundering and identity of customers. Did you by chance pay a monthly amount into the New Star by standing order or direct debit? If you had I see no reason why they should not have credited your sales proceeds by BACS (if they offer this service- not all companies do)By sending the cheque direct to your bank, this puts the onus on the bank to ensure that funds go into the correct account. You might have been lucky - some companies now insist on seeing original id documents like passport or driving licence BEFORE settling the sales order. Eric

The original contributions to the New Star account were monthly DDs but were stopped about 5 years ago.

I think I'll stick with Fidelity's supermarket in future. They seem to have moved into this century without too many problems.

Thanks for the reply!

In message , snipped-for-privacy@gmail.com writes

I think you will find that given the same circs as New Star (which dont appear to be the same from your posts) Fidelity would act in the same way.

BTW in your OP you seem to refer to BACS and TT as the same thing.

They send cheques too.

They've BACSed the proceeds of sales to my bank in the past.