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Post by p2plender on Mar 16, 2016 14:17:39 GMT
Just realised I signed here a while back yet I've never been asked proof of ID etc unlike the other platforms I use. Is this normal for SS? Not complaining, rather suits me. Thanks.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Mar 16, 2016 14:38:58 GMT
Just realised I signed here a while back yet I've never been asked proof of ID etc unlike the other platforms I use. Is this normal for SS? Not complaining, rather suits me. Thanks. I assume they do AML/KYC by electronic means. Ive never been asked either nor have any of my relatives.
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Mar 16, 2016 15:48:35 GMT
I would imagine they do some checks behind the scenes; seems like it would be a FCA requirement.
However; because we send money electronically; surely there is no way SS can know for sure we are who we say we are.....
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Post by p2plender on Mar 16, 2016 16:47:49 GMT
Some platforms want you to jump through hoops. Refreshingly different here but I always thought there was the money laundering issue when setting things up. I'll see what happens when I bank transfer £5 million. Cough.
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Post by GSV3MIaC on Mar 16, 2016 17:40:37 GMT
I would imagine they do some checks behind the scenes; seems like it would be a FCA requirement. However; because we send money electronically; surely there is no way SS can know for sure we are who we say we are..... Perhaps not, but they know for damn sure where the money comes from (electronically), and where it is going to (ditto), and that account should have been validated at some point. They can also check that someone with the right name lives at the right address, and a few other checks. It's when you can turn a wodge of twenties or fifties into legitimate account balances that the authorities start wondering how many of the notes were arrived at by some dodgy method .. once inside the (UK at least) banking system, the laundering has pretty much already happened.
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adrianc
Member of DD Central
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Post by adrianc on Mar 16, 2016 18:14:37 GMT
I've recently signed my mother up to RS - they've not asked for anything, either.
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Post by queenvictoria on Mar 16, 2016 18:23:36 GMT
Me too. I signed my mother (Victoria of Saxe-Coburg-Saalfeld, if you didn't already know) up too and there were no checks. I also signed her up for MT and they did email asking for ID etc. I had to provide ID for her and for me and a certificate of the Power of Attorney I hold over her affairs - not a problem but rather mystifying why one platform requires it when another doesn't. Could SS clarify.
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jonah
Member of DD Central
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Post by jonah on Mar 16, 2016 19:27:33 GMT
FC and MT were the only platforms which needed offline kyc docs for me. Everyone else ok'd me with electoral register/ experian checks or similar.
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elgerod
Member of DD Central
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Post by elgerod on Mar 17, 2016 1:22:56 GMT
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Post by Iain - Orca on Mar 19, 2016 10:41:44 GMT
It's an interesting topic as with the FCA you would expect regulation to be a black or white requirement. This is not the case as regulatory processes it is down to the platforms interpretation of the rules. The FCA are reactive not proactive. Therefore the regulatory processes of platforms will be dependent on how strict their internal compliance procedures are.
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Post by xyon100 on Mar 19, 2016 11:53:25 GMT
This is currently an issue for me as I have Ablrate apparently insisting that I must supply a utility bill in my name. I simply don't have one. My rent covers water, there is no gas and the electricity is in the name of my wife. I don't remember what I gave to SS, but there was certainly not a utility bill involved.
It's silly really because we actually get the police here to check we live where we say we do, hence making the micky mouse method of identifying where people live by such things as utility bills completely redundant anyway. A bank statement with my address on it is better than any utility bill, because they will only send it to the address on the ID card, the address where the police visited to check.
I have to go back to Ablrate with this issue.
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registerme
Member of DD Central
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Post by registerme on Mar 19, 2016 14:26:29 GMT
xyon100 I have a friend who I introduced to ablrate, he faced similar issues. Customer services were able to sort him out.
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Post by xyon100 on Mar 19, 2016 14:54:26 GMT
xyon100 I have a friend who I introduced to ablrate, he faced similar issues. Customer services were able to sort him out. Well, I have written to them pointing out that I cannot get a bank statement sent here unless the police have visited to confirm I live here, so surely that statement is better proof that I live here than any utility bill for a UK resident? As far as I can tell, the FCA require evidence of address, but I see nothing that says it must be a utility bill? It's all as clear as mud, actually. :-)
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brin
I am trying to stay calm.
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Post by brin on Mar 20, 2016 10:38:44 GMT
xyon100 I have a friend who I introduced to ablrate, he faced similar issues. Customer services were able to sort him out. It's all as clear as mud, actually. :-)  
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