adrianc
Member of DD Central
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Post by adrianc on Aug 17, 2015 19:42:56 GMT
It;s pretty hard to provide a certificated copy of a passport when you don't possess a passport. Is there really no other alternative to prove your ID? Less than 30% of the population don't hold a passport, and there's going to be a really quite small overlap between that group and people wealthy enough and savvy enough to be investing in offshore-based innovative finance, but...
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Post by gmaxkenny on Aug 17, 2015 20:14:56 GMT
They want your ID certified by a lawyer or banker,why not by your local crime boss he be a person of higher integrity than either of them.
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am
Posts: 1,495
Likes: 601
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Post by am on Aug 17, 2015 20:18:57 GMT
It;s pretty hard to provide a certificated copy of a passport when you don't possess a passport. Is there really no other alternative to prove your ID? Less than 30% of the population don't hold a passport, and there's going to be a really quite small overlap between that group and people wealthy enough and savvy enough to be investing in offshore-based innovative finance, but... It's not just Relendex who assume that you hold a passport; there's a least a couple of British based P2P platforms that do the same.
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Post by yorkshireman on Aug 18, 2015 14:17:02 GMT
It's interesting though that some sites require full identification and others do not. My registration with ABLrate was stalled because their tracesmart system would not accept my details, not surprising as I don't reside fiscally in the UK. No ID, no investing.
Yet just five minutes after going on to FS I am clear and good to go based purely on the info I entered.
Personally, a company asking for certified ID gives me greater confidence in a company that does not. I am presuming that the company will require full ID before any withdrawal can be made as is the case with Bondora? My wife has been with FS for 15 months, regularly lending. She has now started to run down her account because of the high number of defaults, although she has not lost money yet. Although all withdrawals go to the bank account which deposits money into FS, she was asked to provide proof of her identity in January and again in August. This proof was to be an uploaded bank statement or cancelled cheque. The reason given was that the company who carries out identity checks for them (Equifax?) could not trace her. We have been living at our home for 14 years, which we bought with a mortgage, regularly use our credit cards and have banked with the same bank for 50 years. FS insisted that the information be supplied or they would freeze the account. So although FS appear to be relaxed at carrying out checks, it would seem that these are being done on a regular basis. My wife has been asked to supply the same information by the same method, regardless of the fact that: She has been with FS for 18 months. All withdrawals go to the bank account which deposits money into FS and has been held jointly in both our names for 40+ years. She has bank accounts in her own name therefore I would have thought that her ID could be traced. We have lived at our current address for virtually 30 years although we are now mortgage free. Although there has been no suggestion of freezing the account as yet, I find this an outrageous state of affairs regardless of any anti money laundering requirements on FS. They opened the account without any checks and have been happy to accept deposits and investments so why do they need proof now?
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Post by batchoy on Aug 18, 2015 15:58:34 GMT
It;s pretty hard to provide a certificated copy of a passport when you don't possess a passport. Is there really no other alternative to prove your ID? Less than 30% of the population don't hold a passport, and there's going to be a really quite small overlap between that group and people wealthy enough and savvy enough to be investing in offshore-based innovative finance, but... According to HMG you can use the following as proofs of identity under the money laundering regulations: | Proof of name | Proof of address
| | Current signed passport | Utility bill issued within the last three months
| Original birth certificate (UK birth certificate issued within 12 months of the date of birth in full form including those issued by UK authorities overseas such as Embassies High Commissions and HM Forces)
| Local authority council tax bill for the current council tax year
| EEA member state identity card (which can also be used as evidence of address if it carries this)
| Current UK driving licence (but only if not used for the name evidence)
| Current UK or EEA photocard driving licence
| Bank, Building Society or Credit Union statement or passbook
| Full old-style driving licence
| Original mortgage statement from a recognised lender issued for the last full year
| Photographic registration cards for self-employed individuals in the construction industry -CIS4
| Solicitors letter confirming recent house purchase or land registry confirmation of address
| Benefit book or original notification letter from Benefits Agency
| Council or housing association rent card or tenancy agreement for the current year
| Firearms or shotgun certificate
| Benefit book or original notification letter from Benefits Agency (but not if used as proof of name)
| Residence permit issued by the Home Office to EEA nationals on sight of own country passport
| Inland Revenue self-assessment or tax demand
| | National identity card bearing a photograph of the applicant | Electoral Register entry
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| NHS Medical card |
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