First Active want to see more I.D.?

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BOXtheFOX

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I had an SSIA with First Active, now closed, and an active demand deposit account, still open.

I called in to one of their branches today to open a new investment account, same branch as other accounts, and I was asked to produce new photographic I.D. and a utility bill.

If my I.D. is already on record for my other accounts why do they need to see new I.D. for a new account.

Is this the norm?
 
I can only assume it might be because both accounts were opened bfore anti money laundering legislation was introduced. A similar thing happened to my mother. If thats not the case then I don't know.
 
I had the issue with the EBS.

Probably something to with money laundering

If only Heineken would get into banking...
 
quick question: do you have to have a ATM card with FA when having a regular saving acc/e-saving?
 
SS expert said:
quick question: do you have to have a ATM card with FA when having a regular saving acc/e-saving?
Click to expand...

I got one for my regular saving account (not esaving) but gave it back straight to the subsidiary (I didn't ask for it when I applied) asap in order to avoid paying govt. stamp duty every year on it as well...
 
It's the law under money laundering legislation, not First Actives fault, it has to be provided again, regardless of how many accoutns you have with them
 
Mpsox said:
It's the law under money laundering legislation, not First Actives fault, it has to be provided again, regardless of how many accoutns you have with them
Click to expand...

Can you quote where it says this in the money laundering legislation?

I have now been told that if my current savings account has it then I don't need it for my new account. The information is already on file and it appears that it is too much trouble to retrieve it from their records. Easier to ask the customer to bring it in again than go to the bother.
 
The Criminal Justice Act 1994 lays down the basic requirments and this has been added to down through the years by various other means, such as the EU 3rd directive on Money Laundering. I suggest you try the Irish Financial Regulator (IFSRA) site for more details.
Originally once you had opened one account, ID at that stage was deemed to be sufficent, however most financial insititutions have tightened up in recent years and now interpret the law as the same requirements for all accounts, no matter whether you are an existing customer or not. There is some logic in what they are doing, people's appearance changes over time, as does the signature they have for you on file, it's debatable if they have gone over the top
Incidentally the person in the branch won't be opening your account and your ID is not even likely to be held there, it is all sent off to a centralised processing facility and is probably then available subsequently to the branch via their own systems
 
BOXtheFOX said:
I had an SSIA with First Active, now closed, and an active demand deposit account, still open.

I called in to one of their branches today to open a new investment account, same branch as other accounts, and I was asked to produce new photographic I.D. and a utility bill.

If my I.D. is already on record for my other accounts why do they need to see new I.D. for a new account.

Is this the norm?
Click to expand...

S.32 (3) of the Criminal Justice Act 1994 paraphrased states that banks shall take reasonable measures to confirm the identity of customers inter alia on an ongoing basis.
 
Incidentally the person in the branch won't be opening your account and your ID is not even likely to be held there, it is all sent off to a centralised processing facility and is probably then available subsequently to the branch via their own systems.
Click to expand...

I opened a Regular Saver account in a First Active branch recently. My documentation was processed in branch and the account was activated immediately. I subsequently opened an e-Savings account online, without the need to provide additional documentation. That said, when I tried to open an e-Savings account before I was an existing customer, I got stuck in a postal loop trying to fulfill their documentation requirements.

For the OP, it may be because it's a few years since you last provided ID. Or your savings account was opened before the stringent ID requirements, and your SSIA doesn't count, as it's closed.
 
All very confusing. The existing savings account is a joint account. The new account was to be in the same joint names. Only one party was asked to produce new I.D. for the new account.
While I appreciate that my appearance might have changed since SSIA's were introduced my address is the same as my original address.

I can get a 10 year passport even though my appearance might change. The last time I produced I.D. for my SSIA was about 6 years ago...

I actually thought is was all about "knowing your customer".
 
Mpsox said:
The Criminal Justice Act 1994 lays down the basic requirments and this has been added to down through the years by various other means, such as the EU 3rd directive on Money Laundering. I suggest you try the Irish Financial Regulator (IFSRA) site for more details.
Originally once you had opened one account, ID at that stage was deemed to be sufficent, however most financial insititutions have tightened up in recent years and now interpret the law as the same requirements for all accounts, no matter whether you are an existing customer or not. There is some logic in what they are doing, people's appearance changes over time, as does the signature they have for you on file, it's debatable if they have gone over the top
Incidentally the person in the branch won't be opening your account and your ID is not even likely to be held there, it is all sent off to a centralised processing facility and is probably then available subsequently to the branch via their own systems
Click to expand...

I have separate accounts for my wife and I in RaboDirect and wanted to open a joint account. RaboDirect have stated that I dont need to resubmit documentation, just state the existing customer numbers on the application
 
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