- Location
- South Wales UK
Went through this earlier this year with HSBC... But recently having problems setting up some new BACS payees, even with all their correct info input. Could be a related issue?
not just us then! We also thought the questions rather intrusive and as has been said, a lot of it is in their own records anyway. Having to faff around photocopying 'relevant' bits of the partnership agreement.... Anyway, did ours yesterday after the reminder, they can make of it what they will.I had one (Barclays), haven't got around to doing it and now have had a reminder saying they'll close our account if I don't sent it back by the end of the month!
Cash Wool sales???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.
In out case, in one guise or another, 120+ years. In the present iteration, since 1977.sent off the Barclays one eventually , if a business have been trading with them for donkeys years its pointless
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
HSBC will close the account if you don't have their safeguarding interview.
Marcus was excellent too.Starling Bank is supposedly very easy to work with , open an account in a few hours.
It isn't difficult at all I would agree, just seems a little farcial for long standing clients with working relations with the bank staff.I’ve been told that Barclays have by far the best/simplest procedure for doing this thing. It can apparently be done all on paper in no time at all with minimal bother. This in stark contrast to some other banks.
Maybe they don’t trust their own staff after the shambles with the truckloads of musty smelling cash in bin liners deposited in one branch.It isn't difficult at all I would agree, just seems a little farcial for long standing clients with working relations with the bank staff.
Deffinately seems to be the case with HSBC where the regular staff are not allowed to be involved in the safeguard review.Maybe they don’t trust their own staff after the shambles with the truckloads of musty smelling cash in bin liners deposited in one branch.