Banks requiring business details?

steveR

Member
Mixed Farmer
I have seen a thread in the past (but cannot see it now!) about teh banks requiring more business details about their customers, under the guise of anti fraud and other legislation.

I had one from Barclays last week and am surprised at just how bloody nosey they are being, and also I question the relevance of some of the information they are "demanding". Feels more like a marketing phishing expedition... I am asked for various details about the business and all they need to do is look at their own bloody records! :unsure:

I have now had a text which is almost threatening with the "suggestion" that I weill not be able to use some of their services, if I don't play ball.

Has anyone called them out on this??
 
Location
Cornwall
I have seen a thread in the past (but cannot see it now!) about teh banks requiring more business details about their customers, under the guise of anti fraud and other legislation.

I had one from Barclays last week and am surprised at just how bloody nosey they are being, and also I question the relevance of some of the information they are "demanding". Feels more like a marketing phishing expedition... I am asked for various details about the business and all they need to do is look at their own bloody records! :unsure:

I have now had a text which is almost threatening with the "suggestion" that I weill not be able to use some of their services, if I don't play ball.

Has anyone called them out on this??

We have had the same. Like you say some of the information is a bit in depth. 🙄
 

Bongodog

Member
Nat west just got fined 260 million because they did not check a business that was depositing large amounts of cash higher than their projected turnover

This is what really pees people off, the banks hound small businesses wanting to know the most trifling information, yet in this example Nat West had a jewellers depositing a £1m a week in cash yet did nothing about it, so much cash it was being taken in in bin bags. Well they did do something about it, due to the size of the deposits and their frequency they turned off the alert message as it pinged too often and recorded the deposits as cheque instead of cash :banghead:
 

Wombat

Member
Mixed Farmer
Location
East yorks

Lincoln75

Member
Nat west just got fined 260 million because they did not check a business that was depositing large amounts of cash higher than their projected turnover

Yep thats why they need more information, allegedly at their Bradford branch customers (no prizes for working out the cash origin) were taking in bin bags full of cash to pay in/ launder.
 

Bald Rick

Moderator
Livestock Farmer
Location
Anglesey
You boys are doing it all wrong .....

The secret is to owe them so much money that they already know everything they need to so they leave you alone.
Job done

403199EF00000578-0-image-m-5_1494498107346.jpg
 

nick...

Member
Arable Farmer
Location
south norfolk
Had one from hsbc couple years ago.took best part of half hour to fill in and submitted it.it was returned for 3 days as I’d answered incorrectly.i called to sort issue over phone but the snotty nosed bitch said if I did not do it she would close our account.eventually got it done and put in a official complaint but never heard any more about it.the cheeky buggers wanted to know where the money came from when farm business was started.that would be 1957/8 and had to make it all up as I never had a clue and my dad had died few years earlier.these things annoy me intensely.
nick...
 

ACEngineering

Member
Location
Oxon
I have seen a thread in the past (but cannot see it now!) about teh banks requiring more business details about their customers, under the guise of anti fraud and other legislation.

I had one from Barclays last week and am surprised at just how bloody nosey they are being, and also I question the relevance of some of the information they are "demanding". Feels more like a marketing phishing expedition... I am asked for various details about the business and all they need to do is look at their own bloody records! :unsure:

I have now had a text which is almost threatening with the "suggestion" that I weill not be able to use some of their services, if I don't play ball.

Has anyone called them out on this??

Dont ignore the email. I had several emails and all got deleted as spam turned out genuine and then took alot of effort to sort out on the phone. Which I had to do as when logged in to online banking there was a big red banner across the screen to say it must be done or access to services will be reduced.

I did tell them exactly what I thought of there idea sending a link to a 3rd party site and a login code via another email to fill in this form and told them it wasn't happening and I'm not doing it even if they resent it cause it goes against every other anti fraud advice given not to click on email links and give any details away.

In the end they posted me the form.

But yes some of the questions are random and frankly non of there business!

Some questions I was deliberately vague with my answer, how the hell do I know what next tax years profit will be?
How am I supposed to know were customers monies come from? I actually put something along the lines of customers pay me for services provided I dont ask where they get it from non of my business😂

Mine was Barclays too.
 
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slackjawedyokel

Member
Mixed Farmer
Location
Northumberland
I got a paper form from Barclays to fill out - seemed a bit extreme, wanting copies of particular parts of the partnership agreement (very complicated as the partnership was set up in the ‘50s and so the PA has been modified several times as partners have come/gone/died). We’ve banked with them for donkeys years so you’d think they’d have twigged by now if we were up to anything dodgy.

Anyway, I filled it in as best I could and returned it. Last week I went online to pay bills and there was a big red banner after logging in- “Thankyou for returning the form, we need more information from you (so we don’t have to suspend your account yada yada)- ring this number ASAP…
I did ring up and eventually got put through to someone that did a bit of checking then said that there were no outstanding questions (yet…) about the account🙄
 

Cowabunga

Member
Location
Ceredigion,Wales
I have seen a thread in the past (but cannot see it now!) about teh banks requiring more business details about their customers, under the guise of anti fraud and other legislation.

I had one from Barclays last week and am surprised at just how bloody nosey they are being, and also I question the relevance of some of the information they are "demanding". Feels more like a marketing phishing expedition... I am asked for various details about the business and all they need to do is look at their own bloody records! :unsure:

I have now had a text which is almost threatening with the "suggestion" that I weill not be able to use some of their services, if I don't play ball.

Has anyone called them out on this??
Was talking to my Genus AI rep a while ago about this and he knew all about it because he had several farms whose direct debits and all payments had all been stopped because they didn’t cooperate with the bank’s demands.
To be fair to the banks, they are doing what Customs and Revenue demand they do and NatWest have certainly been told to undertake at least 50% more audits in the coming year as they did in this. It is not something that the banks want to do. They are snowed under with this nonsense and ‘relationship managers’ are wasting more than 50% of their time on this compulsory anti-money-laundering project, sorting out stuff that shouldn’t need sorting out.

It took me nearly a year to get through the process, culminating with a promise from me to refer it to my MP and my manager putting in a formal complaint on my behalf, of which I’ve heard nothing back. Their system failed at the first hurdle when the upload of passport photos just would not be accepted through their automated WhoYou system and the fact that my brother has no photo identification or credit history.
It can be a total shambles but you must cooperate and engage with them, otherwise your account WILL be frozen at some point. They do not mess about.
 
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serf

Member
Location
warwickshire
I have seen a thread in the past (but cannot see it now!) about teh banks requiring more business details about their customers, under the guise of anti fraud and other legislation.

I had one from Barclays last week and am surprised at just how bloody nosey they are being, and also I question the relevance of some of the information they are "demanding". Feels more like a marketing phishing expedition... I am asked for various details about the business and all they need to do is look at their own bloody records! :unsure:

I have now had a text which is almost threatening with the "suggestion" that I weill not be able to use some of their services, if I don't play ball.

Has anyone called them out on this??
Yes I told them at bottom of the questionnaire when done ours that the information that fraudsters need is all in one place now with the info they have collated here and only need to open one box and they got all they need where as before they would have to collect it from lots of sources😤

But it's OK cos the info is safe with them and will never get hacked .........

'We will do all we can to make sure this never happens again comes to mind ' ......
 

Cowabunga

Member
Location
Ceredigion,Wales
Nat west just got fined 260 million because they did not check a business that was depositing large amounts of cash higher than their projected turnover

Yes they did. Absolute idiocy on the part of NatWest. Contrast that with the hoops they put small traders through, especially farmers like me who do not deal with cash at all. They deserve the fine but it should be against individuals rather than the bank itself, because we all know who pays that fine…. me as one of their mugs [customers].
 

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HSENI names new farm safety champions

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Written by William Kellett from Agriland

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The Health and Safety Executive for Northern Ireland (HSENI) alongside the Farm Safety Partnership (FSP), has named new farm safety champions and commended the outstanding work on farm safety that has been carried out in the farming community in the last 20 years.

Two of these champions are Malcom Downey, retired principal inspector for the Agri/Food team in HSENI and Harry Sinclair, current chair of the Farm Safety Partnership and former president of the Ulster Farmers’ Union (UFU).

Improving farm safety is the key aim of HSENI’s and the FSP’s work and...
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