jonno
Member of DD Central
nil satis nisi optimum
Posts: 2,571 
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Post by jonno on Oct 10, 2019 14:23:15 GMT
I "passed" but my better half is right pi**ed off. I don't think I'll ever look at her in the same light again  |
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dzo
Member of DD Central
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Post by dzo on Oct 10, 2019 14:23:55 GMT
What happens if we don't meet the deadline?
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Post by highlandtiger on Oct 10, 2019 14:25:17 GMT
This is getting fecking ridiculous now. They already have all our details.
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Post by gaspilot on Oct 10, 2019 14:26:20 GMT
So, I've just received that email.
Unfortunately my correspondence address from my bank is different to the Companies House address (which is my accountant's address).
How do I sort this nonsense out?
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greatmarko
Member of DD Central
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Post by greatmarko on Oct 10, 2019 14:28:18 GMT
There seems to be absolutely no way to go though this tedious AML check without incurring any costs.
Even if you do have a friend who happens to be a dentist, doctor, accountant, solicitor, teacher, lecturer, minister, etc who may be able to certify documents free of charge... the administrators are only accepting certified documents which are physically posted to them (they won't accept anything by email)
Also, why do they require "full underacted" bank statements, as opposed to bank statements where the transactions/sums themselves are redacted?
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invester
P2P Blogger
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Post by invester on Oct 10, 2019 14:29:50 GMT
I also realised that I have a problem that I moved out of my Lendy-registered address last year.
Will it still be acceptable to use old bank statements showing that address?
It seems inconceivable that all my money will be stuck.
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paul123
Member of DD Central
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Post by paul123 on Oct 10, 2019 14:31:57 GMT
What happens if we don't meet the deadline? Then they won’t have to meet their deadline of making the cash available to you.
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paul123
Member of DD Central
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Post by paul123 on Oct 10, 2019 14:32:49 GMT
I also realised that I have a problem that I moved out of my Lendy-registered address last year. Will it still be acceptable to use old bank statements showing that address? It seems inconceivable that all my money will be stuck. Bank statements will need to be recent anyway. You may need to provide certified proof that you moved.
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paul123
Member of DD Central
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Post by paul123 on Oct 10, 2019 14:34:44 GMT
There seems to be absolutely no way to go though this tedious AML check without incurring any costs. Even if you do have a friend who happens to be a dentist, doctor, accountant, solicitor, teacher, lecturer, minister, etc who may be able to certify documents free of charge... the administrators are only accepting certified documents which are physically posted to them (they won't accept anything by email) Also, why do they require "full underacted" bank statements, as opposed to bank statements where the transactions/sums themselves are redacted? You need to suppress any reasonable questions to get through this exercise. There’ll be zero incentive on their side to be lax with any of this...
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paul123
Member of DD Central
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Post by paul123 on Oct 10, 2019 14:37:02 GMT
So, I've just received that email. Unfortunately my correspondence address from my bank is different to the Companies House address (which is my accountant's address). How do I sort this nonsense out? Ask your accountant to provide a signed letter on headed paper making that fact clear and include it with the other documents.
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toffeeboy
Member of DD Central
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Post by toffeeboy on Oct 10, 2019 14:37:06 GMT
Here we go, more time and costs will have to be incurred by the innocent lenders: Dear M*** PLEASE READ – ACTION REQUIRED As per the Joint Administrators letter of 4 October 2019 to ensure compliance with our AML obligations and to enable us to release investor funds, we are at the final stages of the revalidation exercise on all investors with funds on account. To complete this exercise, we require you to post the following certified* full unredacted documents to us before 31 October 2019. In order to complete this exercise, please post certified* copies of the following to us: A valid certified* form of photo ID either: Current signed passport Current UK or EEA photo-card driving licence EEA member state identity card National identity card bearing a photograph of the applicant And A certified* Bank Statement** (the full unredacted document issued in the past three months) in the name of the registered account (either personal or business). *’Certified’ means certified by a responsible person such as a professional (Bank or Building Society official; Councillor; Minister of religion; Dentist or Doctor; Chartered Accountant; Solicitor or Notary; Teacher or Lecturer) that “the document is a true copy of the original” (this wording must be included). You need to be able to see the name, occupation and contact details of the person certifying in case of query, and the date of certification. **If you hold an account in the name of a business, partnership or limited company, please ensure the documents provided match your business address and companies house. The following areas of the documents must be identifiable in English – name, address, date of birth, bank account details and any expiry dates. Further documentation may be requested upon request. The original certified copies of these documents must be posted to: Bank Verification Team, Lendy Ltd c/o S***** F***** W**** Fa**** P***** Interesting that the deadline for getting the information back is 31 October but they expect to have the system up and running by 25th October. I thought that the AML checks had to be complete before they were starting the system running again.
I don't think they thought out their timelines very well.
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greatmarko
Member of DD Central
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Post by greatmarko on Oct 10, 2019 14:39:47 GMT
So the wording in the email in relation to document certification states:
...the words "such as" are interesting.... technically everything that follows is just a list of examples - all they say is that the documents need certifying "by a responsible person".
Well, I'm a "responsible person"... can I self-certify?!
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Village Idiot
Member of DD Central
This poster will self destruct after 3000 posts....
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Post by Village Idiot on Oct 10, 2019 14:40:33 GMT
Having just received the same Email, I see no supportable reason why they cannot accept emailed copies that have not been certified.
There seems to be too many of us for this to be any level of real concern on their part.
Maybe time for the CC to contact them and ask them to be more reasonable. Clearly in most cases the bank would have made and received payments often enough to remove doubt.
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Post by takeshi on Oct 10, 2019 14:53:43 GMT
I've had the 'send info' email - They're clearly making a meal of the AML checks.
FC went through a money laundering check process recently - they were happy to confirm the bank account details. They accepted redacted emailed images of bank statements for this. *
As long as the money is returned to the same account it originated from - no "laundering" has taken place.
Why ask to see my passport?
I'm 58 - I have half a dozen p2p accounts & a dozen plus other on-line financial things. I've never had to provide certified picture ID before.
My potential return from lendy will be a few hundred pounds - who launders such a small amount?
This process adds insult to injury.
*PS. I failed the FC 'auto verify ID' as well - so had to provide the bank statement image. I believe (but not 100%) that auto verify of bank ID details fails if bank account is old - mine is 40 years old.
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SteveT
Member of DD Central
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Post by SteveT on Oct 10, 2019 14:53:48 GMT
Having just received the same Email, I see no supportable reason why they cannot accept emailed copies that have not been certified. There seems to be too many of us for this to be any level of real concern on their part. Maybe time for the CC to contact them and ask them to be more reasonable. Clearly in most cases the bank would have made and received payments often enough to remove doubt. I’ve done battle with other firms over “reasonable flexibility” in provision of requested certified copies, and lost. I believe the origin of the certification guidelines tracks back to the FCA somewhere and there is nothing in it for firms to risk departing from them. My advice is to follow the guidelines precisely or expect to get a repeat request to do it again. That said, usually the Post Office’s document verification service is also accepted (£12.50 for 3 certified documents, IIRC, but woe betide you if you then try sending photocopies of the certified photocopies!!)
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