r1200gs
Member of DD Central
Posts: 1,336
Likes: 1,883
|
Post by r1200gs on Jun 28, 2017 10:46:29 GMT
I thought I was being asked for this when I first attempted to register because I was not in the UK. I deliberately didn't bother as I was going to be returning to the UK, and have. Is this standard, or am I still being treated as a furriner?
|
|
r1200gs
Member of DD Central
Posts: 1,336
Likes: 1,883
|
Post by r1200gs on Jun 28, 2017 11:01:39 GMT
Did you need to provide certified ID and address? Anybody?
|
|
archie
Posts: 1,836
Likes: 1,841
|
Post by archie on Jun 28, 2017 11:06:47 GMT
Did you need to provide certified ID and address? Anybody? No, but I have lived at the same address for many years. Failed to get approved at a certain other platform though, must be because I'm a wrongun
|
|
liso
Member of DD Central
Posts: 387
Likes: 394
|
Post by liso on Jun 28, 2017 11:07:53 GMT
Nope, but likewise, same address for years.
|
|
r1200gs
Member of DD Central
Posts: 1,336
Likes: 1,883
|
Post by r1200gs on Jun 28, 2017 11:15:34 GMT
OK, thanks for that. I'm wondering though if they are going on the last thing they required from me rather than taking my new circumstances in to account. I'm now on the electoral register and have a credit rating, so I can't see the problem really. Anyway, now I know it's not standard, I'll ask them to take a look again before I have to start hassling the bank manager.
|
|
|
Post by pedz14 on Jun 28, 2017 11:20:48 GMT
I do recall that I had to upload my driving licence - didn't need anything certified. Been at the same address forever.
|
|
r1200gs
Member of DD Central
Posts: 1,336
Likes: 1,883
|
Post by r1200gs on Jun 28, 2017 11:50:10 GMT
I do recall that I had to upload my driving licence - didn't need anything certified. Been at the same address forever. That's what I have done with every platform, even from abroad. MT are the only one that have ever required any such thing. OK, fair enough from abroad if they can't verify the details, bit I'm here in the UK and on the radar of banks, credit card, electoral role....When I asked my overseas bank to do this, they wanted money. I don't know if that is the case here but if it is I would clearly rather not pay them. Any, now I know it's not standard I've mailed MT and asked them if they have noticed I'm now UK resident and on the electoral role, an electoral role. That reminds me, got to get a UK driving licence.....
|
|
mrflush
Member of DD Central
This is not me
Posts: 98
Likes: 40
|
Post by mrflush on Jun 28, 2017 12:45:39 GMT
I have lived at same address for over 20 years and always sailed through any checks until Lend Invest who wanted copies of documents. I queried it and a manual check resolved it but it was because I had been mistakenly flagged as a "politically exposed person" as I had a similar name to, I guess, a "politically exposed person", whatever that might be. So, always worth querying it IMHO.
|
|
|
Post by lendinglawyer on Jun 28, 2017 12:58:22 GMT
I have lived at same address for over 20 years and always sailed through any checks until Lend Invest who wanted copies of documents. I queried it and a manual check resolved it but it was because I had been mistakenly flagged as a "politically exposed person" as I had a similar name to, I guess, a "politically exposed person", whatever that might be. So, always worth querying it IMHO. en.wikipedia.org/wiki/Politically_exposed_person
Basically, they are subject to enhanced AML and KYC requirements.
|
|
r1200gs
Member of DD Central
Posts: 1,336
Likes: 1,883
|
Post by r1200gs on Jun 28, 2017 13:18:23 GMT
I have lived at same address for over 20 years and always sailed through any checks until Lend Invest who wanted copies of documents. I queried it and a manual check resolved it but it was because I had been mistakenly flagged as a "politically exposed person" as I had a similar name to, I guess, a "politically exposed person", whatever that might be. So, always worth querying it IMHO. en.wikipedia.org/wiki/Politically_exposed_person
Basically, they are subject to enhanced AML and KYC requirements.
Or just a flat out refusal of the banks to do business with them, hence them appearing on P2P platforms on occasions. SS had one with a very nice boat. Anyway, MT have been on the phone (nice touch) and explained that they have run the new details and still not coming back verified, we know not why. She also informs me that my local friendly bank manager should be able to verify the docs in a jiffy and shouldn't charge me, unlike the Belgian lawyer wanting stupid money. So, all good I think
|
|
SteveT
Member of DD Central
Posts: 6,871
Likes: 7,915
|
Post by SteveT on Jun 28, 2017 13:48:35 GMT
Or just a flat out refusal of the banks to do business with them, hence them appearing on P2P platforms on occasions. SS had one with a very nice boat. Anyway, MT have been on the phone (nice touch) and explained that they have run the new details and still not coming back verified, we know not why. She also informs me that my local friendly bank manager should be able to verify the docs in a jiffy and shouldn't charge me, unlike the Belgian lawyer wanting stupid money. So, all good I think Many larger Post Office branches will also certify 3 documents (or 3 copies of the same document) for £12, while you wait.
|
|
james100
Member of DD Central
Posts: 972
Likes: 1,184
|
Post by james100 on Jun 28, 2017 20:52:03 GMT
Or just a flat out refusal of the banks to do business with them, hence them appearing on P2P platforms on occasions. SS had one with a very nice boat. Anyway, MT have been on the phone (nice touch) and explained that they have run the new details and still not coming back verified, we know not why. She also informs me that my local friendly bank manager should be able to verify the docs in a jiffy and shouldn't charge me, unlike the Belgian lawyer wanting stupid money. So, all good I think I was recently in the same position as you wrt returning to UK. MoneyThing had the most stringent security requirements, along with Funding Circle (who, in turn did not satisfy my requirements ). Barclays were happy to certify docs free of charge.
|
|
|
Post by df on Jun 29, 2017 0:21:14 GMT
Did you need to provide certified ID and address? Anybody? Address is compulsory for any platform. I didn't have to provide ID for MT, but AC and some others asked me to provide copy of driving license or passport.
|
|
registerme
Member of DD Central
Posts: 6,163
Likes: 5,977
|
Post by registerme on Jun 29, 2017 1:51:12 GMT
Know Your Client (KYC) and Anti-Money Laundering (AML) checks are, and should be, inherent in every non-cash(*) transaction.
Let's say, for argument's sake, that P2P platform X was, some years down the line, proven to be a conduit for moving money to..... Daesh, or North Korea, the Medellin Cartel, Iran or... Trump Towers (that's probably enough keywords for tagging everybody who views this post appropriately)... take your pick, and dream up more whilst you're about it. It might not be your fault, indeed assume that it isn't your fault. Do you you think the US Justice Department, and the US Treasury, is going to give one hoot about >>you<<?
Well, they won't, in as much as they aren't going after innocent little'ol >>you<<.
I had a guy work for me a few years ago who processed a transaction, after doing all appropriate checks, for somebody who was unfortunate enough to have the same name as a renowned international terrorist. It was all entirely innocent.
The world came down on his head. He did nothing wrong, and everything right, and it still took months to get out from under.
I can understand why people get frustrated with KYC / AML checks. Nobody likes barriers put in their way, least of all when they don't understand why they might be there in the first place.
But some times (hopefully most of the time?) they are there for good reason.
Indeed, I am reassured when I hear people complain about this sort of thing. Not because I relish their irritation, but because I appreciate that a platform I use has checks in place.
RM
* Cash transactions are... different. In the "Western World" we're at least kind of used to the idea that "cash" transactions < 10k pick your currency are "ok". Well, they are as long as you're not the defrauded old man I know who "met a girl on the internet", and who's USD transfer was $9,999.
Or you could be sending money home to your family. Because you're a labourer in the Middle East helping put up a football stadium, or crewing a ship, or being a family help (maid / servant /...). But how that works might be as crude (but effective) as a currency note torn in half.......
|
|
adrianc
Member of DD Central
Posts: 8,877
Likes: 4,754
Member is Online
|
Post by adrianc on Jun 29, 2017 7:34:22 GMT
Know Your Client (KYC) and Anti-Money Laundering (AML) checks are, and should be, inherent in every non-cash(*) transaction. ... I can understand why people get frustrated with KYC / AML checks. Nobody likes barriers put in their way, least of all when they don't understand why they might be there in the first place. But some times (hopefully most of the time?) they are there for good reason. Indeed, I am reassured when I hear people complain about this sort of thing. Not because I relish their irritation, but because I appreciate that a platform I use has checks in place. Years ago, I was doing some IT work with a private equity firm in London. I bumped into the compliance guy in the corridor one day, and we had a quick chat. They'd had an individual wanting to invest multiple millions. No great problem, but this guy was ostensibly a mid-level town hall civil servant in the arse end of Russia...
|
|