# excessive amounts of information required to open a bank account



## bond-007 (19 May 2008)

I was out with the other half the last few days looking to open a new current account as AIB had upset her for the last time. I was amazed that none of the mainstream banks will not open a basic current account without a payslip and 3 months statements. I am not talking about looking for credit etc. Just a basic account. 

In the end we found Postbank was the best only asking for a passport and one bill. Fair dues to them. 

Personally I would not be comfortable with a bank having that sort of information about me on their files for just a standard account. Why are the main banks seeking far more information above the requirements of the CJA 1994? 
_
*Moderator note: *Silly personalised off topic comment removed - read the posting guidelines._


----------



## John Rambo (19 May 2008)

Were you looking for an overdraft facility on the current account?


----------



## bond-007 (19 May 2008)

Nope. Just a bog standard current account.


----------



## eileen alana (19 May 2008)

Yes, there is a huge lack of consistency from bank to bank, some demand 2 photo id's, pps numbers, something from revenue, bank statements, a handful of household bills and for some strange reason none of the banks  I have dealt with will accept a vodafone bill.


----------



## bond-007 (19 May 2008)

UB told me they would only accept landline bills and not mobiles.


----------



## eileen alana (19 May 2008)

The phone maybe mobile but for billing purposes should the holder's address be considered mobile as well??


----------



## bond-007 (19 May 2008)

There is no room for negotiation with these guys it seems.


----------



## Moral Ethos (19 May 2008)

> the mainstream banks will not open a basic current account without a payslip and 3 months statements.


Where does one stand if you are unemployed? So you can't have an account in the mainstream banks if you are unemployed? Terrible state of affairs imho.


----------



## bond-007 (19 May 2008)

You would be into the realms of discrimination.


----------



## Mpsox (20 May 2008)

The core reason behind this is probably fraud prevention. The banks are getting hammered at the minute with attempted frauds and many of these are based around accounts being opened using fraudulent information. Therefore they are tightening up on procedures and requirements

Remember as well that banks are businesses and it is up to them to decide who they want to do business with. If they feel they cannot make money out of a current account for someone who has no job, why should they be made to do so


----------



## soy (20 May 2008)

Mpsox said:


> The core reason behind this is probably fraud prevention. The banks are getting hammered at the minute with attempted frauds and many of these are based around accounts being opened using fraudulent information. Therefore they are tightening up on procedures and requirements



I disagree. I believe that it is to maximise the amount of data they have on you so that their marketing teams can pester you with all sorts of rubbish in the hope that they will get more business out of you. 
I found NIB particularily bad when I attempted to open a high interest saver a/c about a year ago despite havig a legacy current a/c opened pre-danske. Instead I went with Anglo, who were only looking for the normal legal ID requirements. I found Anglo very easy to deal with. 

IMHO - Unless you are looking for credit, then most of this info should be optional on the application forms. 

In any case they will inevitably lose the laptop they store it on......


----------



## demoivre (20 May 2008)

bond-007 said:


> I was out with the other half the last few days looking to open a new current account as AIB had upset her for the last time. I was amazed that none of the mainstream banks will not open a basic current account without a payslip and 3 months statements. I am not talking about looking for credit etc. Just a basic account.



According to the [broken link removed] site a passport or driving licence and a utility bill is all you need to open a current account.


----------



## JJ1982 (20 May 2008)

Yes, i was also annoyed when opening a current account recently. The application form was similar to that of a mortgage application form, wonder will they be ringing us soon looking for business.


----------



## Caveat (20 May 2008)

A bit late now for the OP, but FWIW I've found PTSB to be more straightforward and generally hassle free to deal with than most other high street banks.


----------



## Mpsox (20 May 2008)

soy said:


> I disagree. I believe that it is to maximise the amount of data they have on you so that their marketing teams can pester you with all sorts of rubbish in the hope that they will get more business out of you.


 
Why would any of this additional data allow them to pester you with all sorts of rubbish. After all, once you open the account and are paying money into it, they will start gathering far more detailed data around your financial circumstances anyway.


----------



## ClubMan (20 May 2008)

soy said:


> I disagree. I believe that it is to maximise the amount of data they have on you so that their marketing teams can pester you with all sorts of rubbish in the hope that they will get more business out of you.


So just tick the box(es) stating that you don't want to be contacted for marketing purposes.


----------



## annR (20 May 2008)

I tried to open a first active deposit account and sent them, among other things,a copy of my drivers license. There was a digit missing from my date of birth on the photocopy so they said I had to send it again but this time certified by a garda!  Although they would have accepted it the first time if the photocopy was ok!  I find that very strange.


----------



## Joe1234 (20 May 2008)

bond-007 said:


> UB told me they would only accept landline bills and not mobiles.



When I went to open my ssia 7 years ago, ACC would not accept my vodafone bill, or my provisional licence.


----------



## eileen alana (20 May 2008)

Joe1234 said:


> When I went to open my ssia 7 years ago, ACC would not accept my vodafone bill, or my provisional licence.


 
When I signed up for my vodafone contract, I had to produce a whole pile of documents, photo id, proof of address even my employers phone number, its a vicious circle.


----------



## kimmage (20 May 2008)

John Rambo said:


> Were you looking for an overdraft facility on the current account?


 

As the OP said they are not looking for a credit facility, hence no overdraft / credit drawdown.


----------



## mercman (20 May 2008)

If it is just a 'bog standard account' you are looking for, this would mean issuing you with a Bank Guarantee Card. This could easily leave the Bank exposed for the amounts of cheques in ones possession, written to the limit of the Card on each cheque. I'm no lover of the Banks but they are certainly not free or risk free money lenders. It is a business they are running, not a public service.


----------



## John Rambo (20 May 2008)

kimmage said:


> As the OP said they are not looking for a credit facility, hence no overdraft / credit drawdown.


 
There was enough ambiguity there to ask the question...which was answered by the OP 24 hours ago


----------



## mercman (20 May 2008)

You don't have to require a credit facility to obtain a Bank Guarantee Card. Most places will accept a Cheque with a current Bankers Guarantee Card. The OP did not state they did not require a Bank Guarantee Card.


----------



## bond-007 (21 May 2008)

For the avoidance of doubt, I did not request a chequebook or cheque card.


----------



## mercman (21 May 2008)

So why did you want to open a current account ???


----------



## kimmage (21 May 2008)

I would imagine they want an ATM card which is not offered on savings accounts. and does not need credit


----------



## BadSanta (22 May 2008)

PTSB & AIB only require u to provide a picture id and proof of address well when I opened a/c's last yr thats all they needed!... pretty basic stuff... irish banks very good to deal with! try open an a/c in the states or somewhere like that!


----------



## VanHeusen (22 May 2008)

BadSanta said:


> PTSB & AIB only require u to provide a picture id and proof of address well when I opened a/c's last yr thats all they needed!... pretty basic stuff... irish banks very good to deal with! try open an a/c in the states or somewhere like that!



Actually, opening a bank account in the States is NOTHING compared to Ireland. All you need is a photo ID. No proof of address, no letters from the  employer, even if you don't have a social security number. You get a checkbook and a Visa debit / MasterCard card within a week -- at  least this is how it works  where I live.

I am currently considering opening a basic personal account with BoI, have called three branches in Dublin today and each person I talked to had a different set of rules for me. They agreed only on the photo ID. One branch wants to see my payslips, another doesn't want the slips - instead they want a letter from the employer stating that I am employed. One utility bill or maybe two utility bills? One bank statement or perhaps three bank statements? Seems I will need a separate suitcase for the paperwork when I fly to Ireland.


----------



## nlgbbbblth (30 May 2008)

Current accounts carry a potential risk - loss to bank through forced credit, abuse of lasercard / cheque guarantee card etc
Therefore sufficient information must be gathered at the beginning to assist with credit scoring the application to open the account.

From experience I found that the people who were reluctant to divulge information at the account opening stage _were the very same people_ who caused trouble later on - i.e unreasonable demands / spurious complaining / poor account operation / systematic unpaid items / broken promises to lodge etc.


----------

