excessive amounts of information required to open a bank account

B

bond-007

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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.
 
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.
 
The phone maybe mobile but for billing purposes should the holder's address be considered mobile as well??
 
the mainstream banks will not open a basic current account without a payslip and 3 months statements.
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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.
 
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
 

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......
 

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.
 
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.
 
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.
 
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.
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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.
 
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.
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So just tick the box(es) stating that you don't want to be contacted for marketing purposes.
 
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 said:
When I went to open my ssia 7 years ago, ACC would not accept my vodafone bill, or my provisional licence.
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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.
 
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