Anyone else bank with First Direct? I have done so for just 23 years (since the start). If you've been with them for any length of time then brace yourself:
Today, I received a letter from them, demanding that I send them proof of my identity, and separately of my address, certified/witnessed by a "professional". Immediately. At no point in the letter do they even bother to try to explain why.
They claim - egregiously - that they have tried to call me several times about it - which is a lie.
I used to think First Direct was a great bank and an example of exactly how to do things right. But it seems that for 23 years this was just an illusion. In the week that parent company HSBC has had to publicly apologise for shielding tax dodgers in Switzerland, and we discover that their CEO - who lives and works in London, running a bank in Hong Kong - gets paid through his own company in, er, Panama, I don't think they were particularly wise to send letters to hitherto loyal customers questioning their identity and integrity, somehow. But if they were, they could have worded it a million percent better than they did. They simply cannot have had anyone read it from a customer's point of view before sending it.
Complete and utter marketing fail. 25 years of great marketing and brand building destroyed in one letter. Brilliant.
I need a UK account (I still own my house there - mortgage, rent, insurance and so on), but if I could switch immediately to another bank I certainly would. I just can't get to the UK at the drop of a hat, and nor do I see why I should have to.
Rant over, but be warned. They're just as rubbish as all the others it seems. Maybe even worse.
Posted on: 24 February 2015 by Guy007
Sounds like an identity theft scam. If they are an online bank they would email first and then call and then write. And if this was genuine, they would give the reason why it was necessary.
I would call what you know is a legit number for them to get clarification on the situation before you send anything. And if this was a scam, they would want to make their customers aware via their website.
Posted on: 24 February 2015 by rodwsmith
It's genuine Guy, I have phoned. They are covering themselves against the whole HSBC backlash, but have inadvertently pissed off actual, real, customers. But I don't matter because I'm poor and expendable. Presumably.
I've never dodged any tax or tried to open an account in Switzerland though...
Posted on: 24 February 2015 by winkyincanada
Originally Posted by Guy007:
Sounds like an identity theft scam. If they are an online bank they would email first and then call and then write. And if this was genuine, they would give the reason why it was necessary.
I would call what you know is a legit number for them to get clarification on the situation before you send anything. And if this was a scam, they would want to make their customers aware via their website.
Yep. A scam. (But the HSBC CEO tax dodge and income hiding stories made me puke my guts up. I have just closed my HSBC accounts. Never liked them much, tbh.)
Posted on: 24 February 2015 by Tony Lockhart
I've banked with Midland/HSBC since I was 16 in 1979 ish. They've never caused me any problems at all, no matter how hard I tried to drink my salary within the first week. My wife banks with First Direct, and has also had no problems.
I have to use a bank account, and they're all way less than perfect, so we are all stuck with em.
I won't be running to another bunch of crooks any time soon.
Posted on: 24 February 2015 by rodwsmith
This is old news, a friend has just informed me.
http://money.aol.co.uk/2014/08...s-customer-id-proof/
Although it does not excuse the terrible wording, and the fact that they lied (about trying to call me). Why only First Direct?
I wonder whether I received my letter in February - when they started sending them last August -because I'm perceived as less of a risk as an international money laundering cat-burglar type, or because my name begins with 'S'...
Posted on: 24 February 2015 by tonym
I've been with First Direct for about five years, having previously been with Midland, then HSBC, then a disastrous couple of years with Santander. I've not received this letter, and so far I've found FD to be superb on the few occasions I've had occasion to contact them.
Should I receive a similar letter, I really wouldn't consider it a sign their service has suddenly become crap and would supply them with the information. It really doesn't seem an unreasonable request in the circumstances.
Posted on: 24 February 2015 by rodwsmith
The problem is that I do not have any of the relevant proofs of address (less than 3 months old) they want because I bank (mortgage, bank, card, insurance) with HSBC in France and their stuff doesn't qualify and everything else (apart from mobile phone, which doesn't qualify either) I get paperless.
Ironically, given that none of my HSBC stuff in France qualifies they did say that my HSBC manager 'might' be able to do the certifying!! Ha! Work that out!
Otherwise, any official in France, who is French (and professional) would demand a professional translation (and nor would I expect otherwise) but this costs quite a lot of money here.
Mind you, on the list of 'certifiers' is "Person with Honours".
Malcolm Rifkind and Rolf Harris still have their honours, and maybe some free time now. Perhaps I could ask one of 'em...
Posted on: 25 February 2015 by winkyincanada
I had first-hand experience with the UK retail banking system for the few years I lived there. They certainly do start from the base assumption that any potential customer is a nefarious money launderer. I've never seen this paranoia anywhere else.
But my most memorable experience was when they couldn't do a transfer of money between two accounts. I simply wanted to do a transfer from my Barclays account to the University's Barclays account for fees. I actually selected Barclays to open my account because I knew that's who the University banked with. "Oh no, we can't do that!", I was told by the teller. She helpfully suggested I write a cheque. Ridiculous.
Posted on: 25 February 2015 by Bananahead
Originally Posted by rodwsmith:
A fail. But not a scam.
And like you/your wife, I have always been quite a fan, an evangelist even. Not any more.
I don't see what the problem is.
It is just standard know-your-customer practice.
It may be inconvenient to you because of your personal situation but it is not unreasonable.
Posted on: 04 March 2015 by rodwsmith
I have spent the last 23 years cunningly planning my clandestine money laundering operation.
Problem is, I get to the point when I've tricked them into believing who I told them I was a quarter of a century ago, and I find I now have no money - dirty or otherwise. Drat.
The hassle I had to go through to get documents certified - in English - in France was such a saga that I am just glad it is over. It took all day.
I have no problem with First Direct needing this information. I have a problem with them asking for it without either explaining why, not acknowledging the length of my custom with them, lying about having said they tried to call me, and threatening to close my account.
I also think, that as one of the pioneers of 'paperless' they might at least acknowledge that in this day and age getting utility bills, or similar, dated within the last three months is far harder and more unlikely than it ever has been previously. The sum total of valid documents I had available for the purposes was, er, nil. I had to get one specially issued from my electricity supplier.
But, according to Bananahead, I'm over reacting or something. Maybe I am.
Posted on: 04 March 2015 by MikeT.
I would not give this information out on the phone or fax under any circumstances. It would require a visit to the bank, first to provide the documentation and/or second to withdraw all of my funds for a deposit to another bank or at least state my displeasure with their approach.
It still has the "stink" of a scam of sorts but that's coming from someone (me) who has had their identity stolen once in the past and God what a mess to deal with.
Posted on: 04 March 2015 by Redmires
If you think that letter is intrusive then it's nothing compared to the questionnaire sent out by Selftrade last year to its customers.
http://www.theguardian.com/mon...re-details-intrusive
They even threatened to withhold funds if the letter was not completed.
Questions included ....
What is the intended purpose of your Selftrade account ?
What is your anticipated Trading account activity ?
What is your total net worth?
Over what timeframe was this wealth generated?
In which countries has this wealth been created?
Has any of your wealth been derived from employment?
If yes, how much of your total wealth was derived from employment?
Provide detailed description of the source (if from previous employment, please name employer).
Provide details of amount involved.
Provide a detailed description of the timescales involved.
Has any of your total wealth been derived from a different source to those listed previously? (e.g. investment/trading activity, selling assets or legal entities, inheritance etc.)
If yes, provide detailed description of the source(s)
Provide details of amount involved.
Provide a detailed description of the timescales involved.
The list went on for 3 pages. Needless to say, I told them to take a hike and moved my funds as soon as I could. Note: Selftrade are no longer in business in the UK.
