On-line opening and ID.

I was looking at opening an online UK bank account and was wondering about the ID requirements. If I say I am unemployed, do not give my current bank account details (perhaps I do not have one), and give an accommodation address or flat I have recently rented how can they verify me?

Of course, the credit records will reveal nothing, but would that stop them opening an account, if all you wanted was Switch and a chequebook (no overdraft or credit card)?

And for the company, could you just not make up the details?

I'm sure none of this is the case in reality, but if it is done on-line, how can they verify you so easily? They obviously use databases rather than checking identification, but even so...?

And they must have to comply with the law?

Reply to
Simon
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and ID.If you give a false address you will not be picked up on an electoral roll search or credit history search. If they cannot verify your details you will at best be offered a Basic bank account but they have the right not to offer you an account at all.As in branch account opening you still have to submit original ID and address confirmation before your account is activated.

Eric

Reply to
Eric Jones

Yes, if you do not have any credit history and are unemployed you will not be offered a switch card. On the high street you will be able to open a more basic account with a solo or electron but I doubt any of the main internet banks will offer a basic account.

If they can not verfiy you to their satisfaction through the electrol roll or credit history then you will be asked to post your ID in (or if they have a branch network, take it into a branch.

Steve

Reply to
Cold Fire

If you cannot satifactorily porve who you are, the banks will not offer you an account. The money laundering regs require this.

John

Reply to
John Bishop

Yes

Reply to
Tumbleweed

So what if I am a student and just 18 meaning I am not on the electoral register?

What if I am from an EU county and have just moved to the UK (I believe EU law says any EU citizen can open a bank account in another EU country). So it would not be a false address; just one where the student or expatriate is not on the electoral register and has no credit history.

If you have to submit documentation (that is enter a bank) what is the point of opening an account on-line?

Reply to
Simon

What if you have never applied for a passport and do not drive?

Reply to
Simon

(snip)

Many children for example will have savings or youth accounts with a bank anyway so it is a matter of upgrading those to proper adult accounts.For a student you will have a UCAS confirmation of course letter to prove address etc and a National Insurance card will sometimes be enough to confirm identity or a letter from Inland Revenue confirming your tax code for the present tax year. It is not always necessary to produce A Passport or Driving Licence, just ask whatever bank you want to open an account with for their particular list. Eric

Reply to
Eric Jones

"> > What if you have never applied for a passport and do not drive?

Err, and I think you will find that a system called CCR (current customer review) will come into play and be required to produce sufficient ID to meet the current legislation.

For a student you will have a UCAS confirmation of course letter to prove address

This is true, though you will find that most banks will only accept this ID for a Basic Bank Account.

But they make life sooo much easier!!

Marcus

Reply to
Marcus Collie

sure Passport and Driving Licences are the A1 things to have for identification if you do not have such documents it is possible to open a proper account with other items. I am an account opener for a high street Bank and come across this virtually on a daily basis.The most important thing in deciding what account a Bank will offer you is whether you have a clear credit history and the amount you will pay in on a regular basis.If an initial credit score reveals a bad credit history then ID becomes irrelevant as the Bank will not want to open an account for you. I would be quite rich by now if I had a 1 for every person who I've interviewed for an account thinking that a new Bank would not know about problems with previous Bank, or previous default notices on finance agreements or CCJ's etc. Eric

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Reply to
Eric Jones

The most important

Ths sort of thing really gets my goat; why should I be required to pay in a regular amount (usually DC salary) in order to store my money at your bank? You're making enough on my money (have I emphasised already that it's my money?) without setting ludicrous requirements on how I arrange my affairs.

I've just opened an account with Barclays and took great delight in crossing out the checkbox for Direct Crediting Salary, even though the bank clerk automatically ticked it without even asking me if I wanted my salary DC'd to their bank. The look on her face was a picture....

Shano

Reply to
Shano

Let's be quite honest about this; Banks want your business - they want to recoup the loss leading interest rates they give you or extras tied into accounts by getting you to buy other bank products eg Loans, Credit cards, Home Insurance, Car Insurance, Mortgages, Pensions, Investments, Life Assurance etc. This can only be done with for want of a better phrase 'good' customers. If you don't like the rules take your business elsewhere. In my bank if you are working but do not credit your account with at least 500 per month then you will get a basic account with a cashpoint card (no solo or debit card functionality)and Standing order and Direct Debit facility but no cheque book (PLEASE note I said credit to the account not redirection of salary; there is nothing wrong in setting up a standing order from old bank to new, but if it is not a direct salary credit this MAY affect your credit scoring if you apply for o/d loan or credit card). We also have a 3 strikes and you are out policy ie 3 bounced standing order or direct debits on this type of account and you will be given notice that the account will be closed. Shano in your case if you had a Bank account (presumably you had to credit your salary) why did you want to change? If your present bank did not give you what you wanted it is perfectly fair that you open an account at Barclays ( or any other bank) so why not DC salary? Eric

Reply to
Eric Jones

"Eric Jones" wrote

Are you assuming that people should only ever want to have *one* bank account? If so, why??

Reply to
Tim

existing bank why would you want to change. If your bank is ok with you then opening any number of secondary accounts to keep certain transactions seperate should pose no problems. If however your bank does not offer a certain service and another bank does then does it not seem reasonable for the new bank to have all of your banking? Changing banks these days is quite simple so if one turns you down for something then move on.I see on a regular basis conversations like this ''Why have you bounced my d/d ?'' reply ''because you did not have funds on your account to pay'' ''But I transferred funds from my other bank to cover!'' reply '' Sorry but when d/d was asked for there was insufficent funds - money did not turn up until next day - too late to cover d/d'' etc etc etc. Having your day to day monies going through one bank in my opinion makes it simpler all round not to get caught out in similar scenarios to above.Just my opinion. Eric

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Reply to
Eric Jones

"Eric Jones" wrote

Change? Why the need to "change", just to open another account at a different bank?

"Eric Jones" wrote

I'm sure it wouldn't pose any problems - but how would that help with diversification?

"Eric Jones" wrote

Eh? Firstly, what if the second bank doesn't offer a service that the first bank did?

What if there is a branch of one bank close to your home and a branch of the other bank close to your work (but not vice versa)?

What if you want to keep less than c30K in each bank?

There is absolutely no reason why people should have to have *all* their banking going through one bank, just as much as they don't need to do all their food shopping at Tesco (replace with Sainsburys or Safeways or ... at your discretion).

Reply to
Tim

Laundering regulation --not as easy as you portray - you will have to satisfy bank that money has been obtained legally--- or you will be potentially subject to investigation and all banks will provide information about you to National Criminal Investigation Bureau.

about diversification is not what you need but proper Independant Financial advice

Internet banking?No need to visit any bank other than to physically pay in or draw out cash. Most banks will let you withdraw using cashpoint machines without charge(at the moment anyway)

and the fact no clearing bank has gone bust in this country and it is most unlikely that any would be allowed to go bust ie if any bank gets into REAL financial difficulty they would be taken over by another bank.

at Tesco but I do 'cos I can't be arsed driving from one shop to another to save a penny or two.Also banks will have special offers to draw in new customers but my main point is that one Bank should be sufficent for most of your day to day transactions. Eric

Reply to
Eric Jones

"Eric Jones" wrote

Eh? I haven't portrayed it any way - easy or difficult. You, on the other hand said this earlier:

So, what is it - "quite simple" - or - "not .. easy" ?!

"Eric Jones" wrote

Are you having a laugh? There is no reason why any bank would think most people's money hadn't been obtained legally. We're just talking about using a normal account, in a usual manner. Pass the ML checks on application, everything runs smoothly. No need to worry about that unless you're being dodgy!!

"Eric Jones" wrote

Well, you give me something specific that would cause you to move from bank

1 to bank 2 (re your comment "If however your bank does not offer a certain service and another bank does ..."), and I'll give you (the same) reason to keep bank 1 if bank 2 doesn't do it!

Well *I* do, but we're not necessarily talking about *me* here. Lots of people like to use branches.

"Eric Jones" wrote

That doesn't stop some people being paranoid. See some posts on this newgroup in previous months.

You obviously miss out on either that tasty special chicken & mushroom thingy from the one store, or the delicious dessert you can only get at the other ...

"Eric Jones" wrote

Even better reason to have multiple accounts!

"Eric Jones" wrote

Many things in this life are "sufficient"; it's the "even more worthwhile" things which are worth striving for! :-)

Reply to
Tim

I have opened an Egg account, an ING Direct account and a Capital One Credit Card online.

None of them asked for ID verification.

I am guessing the electoral roll confirmation was good enough for them all.

Reply to
Reece Bythell

--------It is simple. Most people have one salary which can only be credited to one account.!

it transpires that a transaction that I was a party to ( either as a cashier or account opener) was subsequently found to be fraudelent and that a normal person would have thought the transaction to be fraudelent or suspicious. Banks have been fined recently by the regulator because records have not been stringent enough.

have noticed that your salary no longer goes into your account there and may decline you, Bank 2 might decline because you have not been with them long enough to build up a credit history.

Banks. As an existing customer you may not be offered the same terms.

our marketing strategies,policies etc if they based it on your opinions! Good luck anyway.

Reply to
Eric Jones

"Eric Jones" wrote

Do you REALLY think that *everyone* opening more than one bank account (for whatever reason - there are many) *must* necessarily be acting fraudulently??

If yes, can you tell us why you think this?

If no, can you tell us why you are going on about ML rules to justify the point-of-view that everyone should only have *one* bank?

"Eric Jones" wrote

I wouldn't need to "appoach" any bank. They all keep "approaching" me - all the time, constantly, with better & better deals ...

"Eric Jones" wrote

Maybe so, but there's still bound to be other things that you can only find at one of the stores which you *do* like.

"Eric Jones" wrote

You mis-understood the point. People could open new accounts with "rival" banks just to get the "special deal" - but keep their old bank accounts. Before applying at the "rival" bank, they would *not* be an "existing customer".

"Eric Jones" wrote

Well that is a failing of their business plan then!!

"Eric Jones" wrote

What for?

Reply to
Tim

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