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Post by mesiaman on Apr 4, 2023 10:45:10 GMT
I have been attempting to add a bank account to Funding Circle a/c...I supplied UK bank details in the form of a PDF from my bank, FC immediately then requested either driving license/ Passport photographs. This seems to be either obstructive or (more worryingly) like identity harvesting behavior. Is this normal behavior from FC?
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scooter
Member of DD Central
Posts: 403
Likes: 379
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Post by scooter on Apr 4, 2023 11:37:08 GMT
Hi, my situation was slightly different (i was trying to withdraw money) and with another P2P lender but this is the response i got.
"In response to your query, we require evidence to ensure that the withdrawal details input into the request is valid. Withdrawal requests are manually input which could lead to an error, so we complete checks to confirm your money is being transferred to the correct place. Our priority is to use electronic checks to not inconvenience the investor. Unfortunately, in this case, the electronic checks could not verify your details.
We apologise for the inconvenience of requesting evidence, however, we are required to satisfy their obligations under Anti-Money Laundering regulations and Financial Conduct Authority rules. This is to ensure investors are kept safe."
Electronic checks must normally work for me because this is the only occasion i have been asked for id.
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keitha
Member of DD Central
2024, hopefully the year I get out of P2P
Posts: 4,581
Likes: 2,615
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Post by keitha on Apr 4, 2023 14:41:41 GMT
I would respond to that effect
did you put J Smith when the account is in the name John smith or similar some checks seem better than others
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Post by mesiaman on Apr 4, 2023 16:35:11 GMT
Hi, my situation was slightly different (i was trying to withdraw money) and with another P2P lender but this is the response i got. "In response to your query, we require evidence to ensure that the withdrawal details input into the request is valid. Withdrawal requests are manually input which could lead to an error, so we complete checks to confirm your money is being transferred to the correct place. Our priority is to use electronic checks to not inconvenience the investor. Unfortunately, in this case, the electronic checks could not verify your details. We apologise for the inconvenience of requesting evidence, however, we are required to satisfy their obligations under Anti-Money Laundering regulations and Financial Conduct Authority rules. This is to ensure investors are kept safe." Electronic checks must normally work for me because this is the only occasion i have been asked for id.
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Post by mesiaman on Apr 4, 2023 16:42:08 GMT
Thanks for your response. I guess the AML aspect is probably the reason for the enhanced documentation request. Probably my paranoia at having to disclose more than I really feel I should need to, after already supplying a bank statement of the destination account.
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Post by mesiaman on Apr 4, 2023 16:42:44 GMT
I would respond to that effect did you put J Smith when the account is in the name John smith or similar some checks seem better than others
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Post by mesiaman on Apr 4, 2023 16:46:36 GMT
Thanks. Yes, as it turns out there is a slight difference of the formatting of my name in the destination a/c...this could also have something to do with the FC request. Nothing is simple these days 😒
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