Hi all. I am considering opening a new account and closing my current account and am wondering how strict the banks are these days. I presume one needs a job to open a new bank account. I dont need any credit cards etc, just an account.
All sorts of people open accounts without proof of employment - students, stay-at-home parents, retired, etc. However, if you have a source of income, the bank is required to make an enquiry from you about the source, to satisfy money laundering regulations.
If the account, or any facility associated with it (cheque book, credit card, etc.) has a credit risk then the bank will make more detailed enquiries.