Opening a bank account?

[C_Claycomb]

Can anyone suggest a bank that will give me a Chequing Account (with or without book), but with a Debit card and NOT demand that I give them every shred of personal information I possess short of DNA and fingerprints?

I have my main accounts with Barclays and want to open another account with another bank to act as a firewall for internet transactions and use with Paypal.

I went to Natwest and in addition to wanting to know the nature of my job, how long I had held it, how much I was payed a month and how long I had lived at my current address, to the month, they demanded I present 3 months worth of bank statements, my photo driver's license, pay slips, and utilities bills. When the address on the driver's license didn't match that on the bank statements and bills they said I had to let them copy my passport. I told them to forget it. As a practical matter I didn't have it and it would be a month before I could get it.

I don't see how their compiling so much personal data on me is of benifit to them giving me a chequing account and certainly don't see it as being good for me to have so much identity data copied.

Is this the normal routine these days for getting a bank account? Can anyone explain why a bank knowing so much about me is a good thing?

 

[arctic hobo]

Hahahaha... *not* Lloyds TSB... set up my account, they wanted a driving licence (don't have one 'cos I don't drive and don't have #40 spare for a pointless card), passport, birth certificate, how much I would pay in each month, how much I would spend each month, what my job was, a contact at that job, and a letter from somebody who had known me for five years and had held a bank account with them for three years. I got pretty angry when they asked for that, I mean, what if I didn't know anyone who fitted that? They replied "then you may not open an account with us!". I mean, it was a *debit* card. I might understand it if they had worries about my credit history (which is fine!).
I regret opening the account anyway, they are a bunch of jokers and constantly mess me about... In four years they've sent me three new cards, five new paying in books, one new cheque book and seven (yes *seven*) new PINs... I never wanted any of them, I keep phoning them to tell them to stop changing my card number 'cos it freezes my transactions, and I'm going mad trying to remember new PINS. Once, they never even sent me a PIN when they should have (the *only* time I've forgotten it), leaving me with no bank access for two weeks while they cleared it and sent it. I could

enough!

In answer, no, I don't know any good banks. But I can say, steer well well clear of Lloyds!

 

[Kepis]

Can't you just open a second account, that's what i did with my bank, no problems at all, i use it for the same purpose Internet and Paypal purchases & payments, i just transfer funds from my main acct to the secondary one via Internet Banking - works for me.

 

[Great Pebble]

The short answer is..... No.
If you want a chequing account these days, be prepared to give your life history....With supporting documentation.

The docs they asked you for and the copy of your principal means of personal ID are actually a legal requirement. They weren't when I opened an account... Otherwise I wouldn't have one.

My employer phoned the bank and told them I was a good guy.

 

[C_Claycomb]

Funny you should say Lloyds. They were the other one I was looking at last night on-line. I even started filling in the form until they started asking how long I had held my current job.

 

[Goose]

I think it is paranoia about terrorism and organised crime, using accounts to launder money etc, world we live in today legislate against the guy in the street so it looks like something is being done rather than the harder option of actually hitting the people that are committing the crimes!

But anyway...., Have you tried the post office?

 

[familne]

Not a member myself but maybe cahoot or smile?

 

[redflex]

Try Bank of Scotland
They are great when i was aboard for awhile they closed my account as it was in active.

Then misplaced the money which was in the account

After a year the finally amitted error and refunded me, the best bit is 2 different departments both refunded,

Waited for the to ask extra money back they never did

Week later they sent letter asking if i wanted to open an account

 

[Great Pebble]

Still ask you everything except your mother's maiden name....errr....

If you use a UK bank and the account provides facilities for you to transfer funds (very nearly all account types) you must be able to show:-

You are who you say you are (positive ID), your residence, and residence over (I think) 3 years (usually electoral roll), Some indication of your status/income (statements/pay slips). Any financial institution that allows you to open that kind of account without the appropriate information is guilty of a crime... The fines are hefty and "sting" attempts not unknown.

In case you're wondering I picked all this up while working in a job which required me to deal with "rehabilitated offenders" who very frequently couldn't satisfy the regulations. The solution was in an accont which offered no facilities at all except a place to keep money.

 

[Jamie]

Funny you should say Lloyds. They were the other one I was looking at last night on-line. I even started filling in the form until they started asking how long I had held my current job.

steer clear of Lloyds or any of the traditional high street banks imo. i have heard that the internet banks are decent (smile, first direct etc). have alos heard that the co op bank is good (in fact have just set up a savings account for Gracie with them) and they are into fair trade and the environment.

i think we will all be interested from your findings Chris, so keep us up to date!

 

[outdoorgirl]

I've always found First Direct very good, have just gone back to them after being with IF for a while. However, as mentioned before, much of the info they ask you for is actually a legal requirement now, so if you really need to open an account with a new bank, be prepared to suck it up and hand it over...

 

[Doc]

I recently moved to smile. It is part of the co-operative bank, pays a good rate of interest, has an ethical policy and account opening was pretty straightforward online. They must have verified my identity - can't exactly remember how.

Profit-making banks often offer an initially good deal which then gradually gets worse over time. Statistics show you are more likely to change your wife than change your bank. They rely on inertia to keep their customers.

Move to smile!

(no connection except as a satisfied customer)

 

[C_Claycomb]

keep suggestions coming :You_Rock_

I don't need to move my account since I am happy with Barclays at the moment for my banking. I just want an account that I can dump a couple hundred pounds in to use for internet shopping and Paypal...and not have to expose too much of what I consider private, theft worthy, identity information. Don't really want it with Barclays if I can help it because should a problem arise they would be holding all my purse strings.

 

[Rob]

I dod one with CAHOOT, I as far as i recall they were pretty easy going - i dont recall if they offered a cheque book.

I expect that some of the stuff with the high street banks is due to their customer research and marketing. The ID checks are probably due to the same money laundering regs that meant that I felt like i carried my passport and driving licence round with me all the time whilst we were moving house - everyone wanted to see them.

 

[Kepis]

Funny, i've never had a problem with Lloyds, First Direct, well don't get me started.................................

 

[mark a.]

Another vote for smile. They're just brilliant. Good rates of interest, easy to use website, and the nicest and most useful staff (who are actually able to fix your problem, as opposed to BarWest who pass you from muppet to muppet, none of whom have the authority to do anything useful.)

Again, you're probably going to be screwed on the ID details now. But I don't remember it being a huge hassle with smile.

 

[scanker]

Not read all the answers, but the short answer is no. Anti-Money Laundering Regulations, controlled by the FSA, mean banks along with solicitors, estate agents etc all have to positively identify the person they're dealing with.

 

[fa11en ange1]

Contrary to others I would recommend Lloyds. I have been with them for the last 12 years and have never suffered any issues with them. I also have 24 hour access via the internet & phone to my accounts and have a direct number to my personal account manager for office hours.

As someone has previously suggested would it not be easier to open up a second account at your current bank? I only had to sign an application that was pre-filled by my bank when I opened both my extra accounts, one of which is a current account with debit card. Plus you are offered fraud protection by both Paypal & your bank (well my bank does), and if you limit paypal's access to a second account with limited funds/no overdraft then they would refuse any excessive payments.

 

[weekend_warrior]

I had similar problems - I used Egg in the end. Easy online setup of an account - recommended

 

[match]

Nationwide are excellent in my experience - they didn't want huge amounts of info (other than to know that I wasn't in vast amounts of debt) before giving me a cheque/debit account.

Two major advantages with Nationwide:

1) They give you Visa Debit (Delta), not Switch/Maestro, so you can buy stuff from places in the USA/overseas that take visa cards.

2) They don' charge for withdrawals from any cash machine anywhere in the world, and don't charge commission on international withdrawals - so if you go travelling you're not being bumped for extra commission when you take cash out.

They also give you a free web-savings account, with a reasonable rate of interest, so you can save up some cash if you're not spending it on bushcraft stuff from the States now you've got Visa