jhma
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Post by jhma on Oct 10, 2019 18:49:26 GMT
As a long-term director of a long-established limited company I have been able to recently open company accounts and deposit significant funds with AML checks made automatically and virtually instantly by the host institution.
But to allow access to the (zero) funds currently in the Lendy account - oh no...... another fail
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Garage246
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Post by Garage246 on Oct 10, 2019 19:14:06 GMT
My SIPP has failed verification which is non-sense. My SIPP Administrator verified me to their satisfaction for AML and that is sufficient. All the individual investments in the SIPP do not need to AML me each and every time. The cascade process means that my SIPP Administrators verification is all that's necessary.
But not for RSM/Lendy - they want a bank account statement in the name of me and my SIPP provider! No other document options offered. It's rubbish and not correct process.
Then my daughter who is at Uni has not been verified and she doesn't have a council tax bill or utility bills (as I pay those), and her bank account is online paperless - so how do you certify that? It is also not the account that services her Lendy portfolio as her mother and I do this from our joint account. Nothing wrong in doing that -we are investing on her behalf from our account. So AML requirements impossible to meet for her because of the silly insistence that the bank account must be in her name and registered on the Lendy site.
Absolute shambles
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benaj
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Post by benaj on Oct 10, 2019 20:14:50 GMT
Has anyone checked their credit file with Experian to confirm the ID verification search has taken place? I looked at all my credit reports, the closest one I had is from Onfido, made on 4th Sep & 5th Sep. No sure if they are Lendy / RSM related. I have been asked to submit certified docs today.  I know one of them is Growth Street related, I changed the bank account recently. Both could be from Growth street as I submitted two different statements around these two dates.
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Mucho P2P
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Post by Mucho P2P on Oct 10, 2019 20:37:50 GMT
Has anyone checked their credit file with Experian to confirm the ID verification search has taken place? I looked at all my credit reports, the closest one I had is from Onfido, made on 4th Sep & 5th Sep. No sure if they are Lendy / RSM related. I have been asked to submit certified docs today. I know one of them is Growth Street related, I changed the bank account recently. Both could be from Growth street as I submitted two different statements around these two dates. Checked mine just now, and zilch from lendy/R**. In fact, nothing since 1st September from anyone whatsoever, just 2 deletions. What are R** playing at???
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jcb208
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Post by jcb208 on Oct 10, 2019 21:00:11 GMT
No recent searches on mine either no wonder AML failed
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jimbb
New Member
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Post by jimbb on Oct 10, 2019 21:22:27 GMT
I totally agree that it is adding salt to the wound, who would ML with Lendy and we would be lucky to be able to get back 100% of what we invested.
And I am not going to spend money to have my documents certified as well, not even if they accept post office certification services.
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IFISAcava
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Post by IFISAcava on Oct 10, 2019 21:33:46 GMT
For an original document that is worthless to you, I don't see a need to make a certified copy at all - just send the original with a covering letter saying that you do not need it to be returned, and they can make as many copies as they want themselves, and ask whoever they want to certify that it's a true copy of the original they hold. Tried that! They just sent it back to me and insisted that I get a certified copy of it made instead. I even threatened a formal complaint and escalation to the FOS but it cut no ice: "Computer says No" The whole process seems designed to ensure that "someone else" bears the responsibility for certifying a copy, so that the requesting company can wash its hands of any subsequent AML issues that emerge. That is ridiculous. A certified copy of the original can't be "better" than the original. The certification is simply that it is a good copy of the "original" - not that the original is genuine.
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mrk
Posts: 807
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Post by mrk on Oct 10, 2019 21:40:37 GMT
Tried that! They just sent it back to me and insisted that I get a certified copy of it made instead. I even threatened a formal complaint and escalation to the FOS but it cut no ice: "Computer says No" The whole process seems designed to ensure that "someone else" bears the responsibility for certifying a copy, so that the requesting company can wash its hands of any subsequent AML issues that emerge. That is ridiculous. A certified copy of the original can't be "better" than the original. The certification is simply that it is a good copy of the "original" - not that the original is genuine. What's an "original" anyway? Isn't a bank statement essentially just a copy of the data in the bank's database, since they can resend you the same statement whenever they like?
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sydb
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Post by sydb on Oct 10, 2019 22:11:26 GMT
See Part 3 for customer due diligence.
Summary:
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NSFW
Posts: 118
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Post by NSFW on Oct 11, 2019 0:23:28 GMT
See Part 3 for customer due diligence.
Summary: And? It doesn't change the fact that British citizens aren't legally required to provide photo ID to prove identity. Not everyone has a passport or driving licence in any case. Also, there's no reason to request certified copies instead of original bank statements.
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Post by scores on Oct 11, 2019 1:49:53 GMT
This is just another excuse for RSM to drag out this whole process and therefore make more money for themselves and leave less to be shared around all of us lenders.
How do we know that 77% of people passed the checks or that 23% did not..
RSM.could pick any figures they wanted to out of the air and claim they are accurate.
I have never failed an AML check before so why now ?
I am beginning to think that any business that makes money out of someone's else's finances simply cannot be trusted anymore.
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rocky1
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Post by rocky1 on Oct 11, 2019 5:02:05 GMT
there is no reason now then that the 77% of lenders who passed cannot access their accounts and funds from repaid loans credited back to their accounts for withdrawal.what are RSM playing at ? i imagine the next step for the 23% of us is that RSM will then need another couple of months to verify that the persons who certified that we are who we say we are,will need to be checked by Experion/RSM to prove that they are who they say they are.the show must go on.by the time I am finished with this p2p game there is no doubt I will probably be certified as insane as i am already going slightly mad.
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Post by empyrean on Oct 11, 2019 6:30:48 GMT
by the time I am finished with this p2p game there is no doubt I will probably be certified as insane as i am already going slightly mad. That may be so, but please be aware that the administrators will require a copy of an original copy of your insanity certificate that has been certified in jade quill ink by one of a) Zippo the clown of ‘Zippo’s Circus’ (do note the Zippo’s signature will not suffice if obtained whilst he is moonlighting for ‘Zappo’s Circus’), b) a Dutch undertaker who is NOT in the possession of a Phillips-head screwdriver, or c) an Elvis impersonator from the Bexleyheath area. Moreover the veracity of those vouching for your insanity certificate must be certified by sending original copies of any three of the following forms of identification: a) a valid astronaut’s license issued by the Soviet Union within the past five years b) an insanity certificate that has itself verified been according to the above process, with the exception that any Dutch undertaker is also not in the possession of a flat head screwdriver Good day.
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Post by p2plender on Oct 11, 2019 6:54:08 GMT
I've had no email confirming good or bad, would expect bad of course as I've not moved address, only have 1 bank account that I've ever used with Lendy and never changed identity since joining Lendy. That said there's no way R++ can make any more money out of my investment with Lendy so I'm expecting they'l find something not stacking up. After all it's easy money they're after just like LB was.
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rocky1
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Post by rocky1 on Oct 11, 2019 7:24:20 GMT
our details are to be posted to a legal firm shoosmiths have RSM outsourced this process so now we have another firm grabbing as much as they can from this merry go round.i suppose we will see a certified copy of their costs somewhere along the line.maybe they are doing mates rates for RSM.
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