Am I blowing things out of proportion?

[CazzaT]

My daught had a small bonus acc. at 16 they have to change this to a different one. Goes into bank last week advised to transfer to a current acc. alongside a savings acc. Sounds good set up for future.

Heard today she has been accepted for the current acc (with no annual  interest) and can overdraw and get bank charges.   BUT she can only have the savings acc. (with annual interest) IF SHE PROVES HER IDENTITY     
We've no passports and naturally she hasn't got a driving licence or any other identification on there list. So we went in to the bank with bank statement (proof of address) National insurance card, birth certif. None acceptable. 
It didn't matter that she was there customer for the last 10 years and had been receiving statements and birthday cards.
So I've come to the conclusion you don't have to prove identity to get into debt but you do to SAVE and I thought  we was supposed to encourage our youngsters save for the future!

So i'm quite angry and frustrated with a banging headache now 

Cazza xx

         

[Eddie]

If you don't mind me asking, which bank?

[CazzaT]

It was the cooperative bank Eddie, I could understand if she was a new customer. I am putting a complaint in.

[Taz2]

How frustrating. They are obviously following the rules to the letter though http://www.co-operativebank.co.uk/cfscombi/pdf/smart_saver_terms_and_conditions_011009.pdf

Taz x

[Joyce]

Definitely not blowing it out of proportion.  I find banks and other organisations so frustrating these days.  Nothing is ever simple is it?

[paulairo]

I quite agree, they just take things too far now, bloody banks just seem to have the monopoly.

[Bixby]

Sounds typical of banks - happy to let you have an account on which you can't earn interest and encourage you to borrow so they can charge you but won't let you have one where you can earn interest. I actually think that's immoral, especially when a 16 year-old is involved. Try shopping around and if it's the same everywhere contact a consumer group, radio programme like "You and Yours" or "Moneybox" or maybe a financial advice column in a newspaper. That might embarass them into action.
Bixby x

[viv]

We had the same problem opening an account. We dont have current passports and I felt as if we had to actually prove that we were worthy of an account. Eventually we gave up and opened an online banking account. They do not ask for the same amount of ID. It was just silly. We were trying to put money in not take it out. 

When my son first went to uni he was offered so much debt it made your eyes water. Fortunately he declined the lot. When he went to make some inquiries regarding one account, he was told that it would be closed if he did not use his overdraft. How crazy is that one in this day and age. He closed the account and told them to B***er OFF

Viv
x

 

[vianne]

Grrrr!  These stories make me so mad!     These high and mighty so and so's are quite unbelievable! I always get questioned, virtually strip searched and dna tested when i go into one particular bank to get money out,they actually have the cheek to ask me what i want the money for! I always tell them its none of their business! And they will NOT take no for an answer when they offer their "financial check ups!"  It has got so bad now that we are gradually transferring our money elsewhere, they are so rude as well, i think they are taught to be obnoxious at their training sessions!!   

[Suzi Q]

CHANGE NOW
SUZI Q XXXX

[Taz2]

It seems to be the policy with all banks. The main problem with savings accounts appears to be that they are used for fraud and money laundering. Obviously the bank in question knows you and your daughter but out in the big wide world you are not known. If the bank tries to identify your daughter electronically they will probably draw a blank as she will not yet appear on the electoral roll. I can appreciate that this is annoying and frustrating but you have to look at the overall picture and not take it as a personal attack. This may help http://www.ecology.co.uk/downloads/literature/savingsidrequirements.pdf    Current accounts are not subject to the same scrutiny as they are not used for money laundering. However, even with a current account if you try to pay in a substantial amount then you will be questioned as to where the money has come from. The first time this happened to a friend of mine - he had received a substantial sum from a relative - he was horrified to be taken into a room and asked about the origin of the money. It can make you feel like a criminal but, again, it is a way of trying to stop large sums of money being moved around the country from illegal activity.

The bank were only following the strict guidelines laid down - honest!!

Taz x

[CLKD]

I remember trying to put money in and if it wasn't my Branch with the dancing Horse they wanted ID - the same Bank always asked what I was going to use any money drawn out of our account - i.e. new bathroom Madam, new car, kitchen ......... eventually I told the teller it was for the deposit on a shop lease as I was 'opening a brothel down the road' - by which time there was a queue behind me waiting to be served, most of the people smiled as they also had to run the guantlet before getting money out.

My friend went one better when trying to put money in this particular Branch when the account was 4 miles down the road: she took out her mobile phone and contacted the Manager on his personal number to the amazement of the teller.  Got results though!

[CazzaT]

Hi thanks everyone, I have calmed down now, I have put a complaint in and they say they are dealing with it, so we will see.

Thanks Taz why the banks don't explain all this at the time  might just stop us customers      

BUT like I said to the complaints dept. there has to be something for our 16-18 year olds who don't have passports etc to be able to open an savings account within there own bank without all this aggro. They should be encouraged to save and not just thrown to one side till there 18.

Cazza  xx
 

[Taz2]

You might find it useful to get one of these for your daughter http://www.citizencard.com/  It is not accepted in some places such as nightclubs but it is very handy sometimes. My sons all had one before they had a provisional driving licence.

Taz x

[CazzaT]

Thanks Taz I didn't know about them, that would be great  if the bank accepts it - I will look into them 

Maybe I should get one in case I'm asked for ID at my supermarket  Ha! Ha! [wishful thinking]

Cazza  xx