tony
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Post by tony on Jun 2, 2015 9:47:29 GMT
I came across this relatively new P2P platform a couple of days ago and decided to register with the intention of pledging to invest in both of the two funds which are open to part funding. However I found the security requirements so "over the top" I decided not to proceed further. They ask you to upload a passport sized photo, a utility bill and a recent bank statement.
Other P2P sites which I currently invest in do not call for all this info so I am wondering why CP fell it necessary to request it. I have asked them to comment and am awaiting their reply.
Has anyone else been put off by this unusual demand/ - even banks don't ask for a photo.
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am
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Post by am on Jun 2, 2015 14:48:49 GMT
There's a wide variation in what financial institutions interpret to be required in order to satisfy the money laundering regulations. Barclays required bills with my middle initial, and I found that a lot of utilities didn't bother to print it. (And I still haven't persuaded British Gas to spell my forename correctly.) Platform Black wanted (a fascimile of?) a passport or driving license. Other institutions are happy with electronic verification, which presumably checks your bank account details against the electoral register and the like.
I'm not quite sure what good a passport sized photo does however.
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adrianc
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Post by adrianc on Jun 2, 2015 20:08:48 GMT
They take "Know Your Client" seriously...
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Post by GeorgeOsborne on Jun 7, 2015 18:24:49 GMT
I have lent through CP having provided the requested ID.
They actually ask for 'Passport Size Photo ID / Driving Licence' - I took that to mean a scanned passport photo page would be acceptable.
I agree this seems onerous but some other P2P sites, e.g. PlatformBlack have very similar requirements.
Good luck with getting a response from them. I have sent numerous emails asking them to correct details on a loan document without response.
The phone number provided on the website isn't answered either. Doesn't really inspire confidence for lenders.
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james
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Post by james on Jun 8, 2015 1:21:05 GMT
They ask you to upload a passport sized photo I'd decline to provide a photo,. UK Land Registry offered an anti-fraud notification system with that sort of requirement, certified, and I declined and complained. A few years later they introduced a replacement notification scheme without the requirement so it seems that I wasn't alone. Bondora requires a picture of a scanned passport ID page as one of its photo-ID document requirements. Same with Transferwise once a certain amount has been sent. I was content enough to meet that requirement because it had clear identification purpose, unlike just asking for a photo. It's possible that what Crowd property really wants is a passport-sized photo ID like passport info page or photo driver's license and that it's just bad English.
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tony
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Post by tony on Jun 9, 2015 13:18:19 GMT
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bigfoot12
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Post by bigfoot12 on Jun 9, 2015 13:29:08 GMT
Just what I was thinking too!
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tony
Posts: 136
Likes: 91
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Post by tony on Jun 10, 2015 14:34:56 GMT
Don't know what happened there! I wanted to say that when I told CP that I no longer drive, and that my passport expired in 2010, they asked me if I had any other form of photo identification so, jokingly, I replied "Bus Pass?". To my surprise this has been accepted which has enabled me to invest £1k in the Halliwell Rd loan - at least I will when they provide the borrowers reference so that I can make the bank transfer.
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Post by shadoh on Jun 14, 2015 10:43:28 GMT
Pledged. Loan didn't fill quick enough for my liking. Emailed them no response. Only when did I pull out of the investment did they acknowledge me. So not impressed with their customer service. I prefer p2p sites that request further info rather than being able to sign up with no questions asked.
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