HSBC Business Accounts Lleucu

#1
Have two both substantially in credit. Opened letter dated July 15 yesterday thinking it was promotional material and it was a letter saying:

1. Fill in this questionnaire

2. Give us certified proof if identity (2 sorts, certified by a Minister of Religion etc)



or else we will close your accounts.



I was pretty annoyed having been a customer of the Midland / HSBC since 1971. Very recently HSBC certified my identity for a DBS/CRB check bless them.



I rang the Business Call Centre but they were implacable do it or we will close your account in 4 weeks. I was very upset about this unreasonable and time wasting order.



Anybody else had this problem?

#2
Yes, had similar a few months ago.



It's very annoying and seems completely bonkers - but it's just them fulfilling some security requirements - you can't argue with it and the length of time you've been with them is irrelevant.



Just fill in the form and send it back!



(and don't leave any letters from any bank unopened for months!)

#3
My wife have just had a similar letter from First Direct, part of HSBC.

She has had a joint account with First Direct for around 20 years & all of a sudden they what her to prove her identity FFS.

Perhaps some jobsworth at HSBC has been tightening some strings ??

Why the hell they can't do these checks online beats me.

Old Mutual checked her identity online, had to fill in all the numbers on her passport (not just the passport number) click button done.

All this 'signed by a Minister' is a right load of b*llocks these days..........

#4
This is the "Know Your Customer" requirement. The banks had to do it. I did it for my company, it took minutes. Our relationship manager told me that they would be closing accounts if this was not completed by the deadline.

#5



Perhaps some jobsworth at HSBC has been tightening some strings.
Originally posted by firefox1956


Not quite!



This actually comes from the top. It's regulation to know the customers by having ID on file, and unfortunately there's no getting around it. From what I gather it's quite a pain for the HSBC staff who are having to collect it all.



The issue stems from the fact that anti money laundering laws have changed since 1971 when the OP opened their accounts, and now banks have to have proof of ID and address on file. If you didn't give this when you opened the accounts (or is lost, or ineligible), the bank simply can't continue with these accounts.

#6



This is the "Know Your Customer" requirement. The banks had to do it. I did it for my company, it took minutes. Our relationship manager told me that they would be closing accounts if this was not completed by the deadline.
Originally posted by lisa110rry


The ID requirement certified does not 'take minutes'. The questionnaire takes at least an hour done properly.

#8



The ID requirement certified does not 'take minutes'. The questionnaire takes at least an hour done properly.
Originally posted by Lleucu




Our relationship manager's assistant phoned me, then sent me an email with a list of things she wanted answered, primarily about the two directors. I, as the Company Secretary, confirmed the answers, sent copies of their passports and "Bob's your uncle". It was a cinch.

#9



Further information about what HSBC is doing and why is found here http://www.hsbc.co.uk/1/2/contact-and-support/security-centre/hsbcsafeguard
Originally posted by henm2


That link is disingenuous.



This ID initiative is about protecting HSBC and nothing to do with protecting customers.



I'm an HSBC customer and if they pulled that bull on my I'd close my account on principle.



HSBC has been busted in numerous jurisdictions recently, and this is them trying cover their arses.

#10



Our relationship manager's assistant phoned me, then sent me an email with a list of things she wanted answered, primarily about the two directors. I, as the Company Secretary, confirmed the answers, sent copies of their passports and "Bob's your uncle". It was a cinch.
Originally posted by lisa110rry


They're looking for details of family members too?!

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