Personal details requested by bank

Maggiemaybe

I’m going back a few years, but I was once asked a whole ream of “security questions” by a bank employee when I’d rung up with a query. Way more than usual. I started to get suspicious and refused to answer more, at which point he hurriedly said I’d failed security and hung up. I rang back and they confirmed it was my bank I’d been speaking to, but were puzzled by the questioning and said it would be investigated. I didn’t hear any more but did wonder if they had a rogue employee. It must happen surely?

DH just had a problem with his credit card and it got blocked. He went into the branch (not Nationwide!!) and went through a palaver with a bank employee who said he would be sent a new card. No card ever arrived so he went back in, saw a different member of staff who showed him how to unlock his card in two minutes!

Ashcombe

I have banked with Nationwide for many years and have used online banking since 2012. If I decide to set up a savings account with them, I have to answer similar questions to the OP regarding the source of my funds which, in an era of money laundering, I consider to be acceptable.

We bank with Nationwide; I set up a saving account with them and did not have to answer all those questions.

The only time have ever had to fill in a questionnaire re money laundering was when transferring money overseas. That was another bank, not Nationwide.
I would expect that if I was transferring a large sum overseas.
This sounds like a scam.

Straightforward money laundering screening.

Banks do close or restrict accounts if they think something is wrong or unusual happening, they don't want to get blamed if it does. So they are pro active checking the source and destination of the money

A lot of money from illegal sources is laundered in small amounts through legitimate bank accounts, An usual receipt or payment, even a connection with a known dodgy account would trigger an investigation

I’m going back a few years, but I was once asked a whole ream of “security questions” by a bank employee when I’d rung up with a query. Way more than usual. I started to get suspicious and refused to answer more, at which point he hurriedly said I’d failed security and hung up. I rang back and they confirmed it was my bank I’d been speaking to, but were puzzled by the questioning and said it would be investigated. I didn’t hear any more but did wonder if they had a rogue employee. It must happen surely?

Sadly in these times of money laundering and scams and frauds Banks and financial organisations do lots more checks, some randomly, some planned, some instigated by unexpected incoming or outgoing monies.

It’s good they do this, it’s even better we all use due diligence and check it out.

Sad times!

Freya5

I have banked with Nationwide for 30 plus years. Never once have I had to answer any personal questions re where money is coming from, even when opening a new savings account last year, holiday fund. Mind you have only got my two moderate pensions, so obviously not thousands to deal with. My sil in cypus, on transferring a large sum, had their bank account closed, thought they were illegal movements, disgraceful behaviour on part of Barclays, left them without funds, and nothing illegal. Only bank I trust is Nationwide.

I am a long time Nationwide customer. I bank online and every time I pay money to a new payee, there is a standard form comes up asking me how I got the payees bank details, and what the purpose of the payment is, in very broad terms, and each page has a warning about scams. I went through this twice yesteday, paying a tax bill to HMRC and paying a subscription to a group I belong to.

I would ask at you nearest Nationwide Bank or call their helpline

Do you really think that? Why do many on this thread think other people are stupid? Do you all think we did not investigate this thoroughly? I was just posting something of interest. There are too many know-alls, clever dicks and finger waggers on here .

Red Flag!

Threatening to suspend your account if you fail to answer every question is incredibly suspect.

Applying this kind of intimidating pressure is widely publicised as a universal trademark of scammers, trying to panic you into handing over access to your money.

This has to be a police matter, surely?

I should remind you that Nationwide is not a bank but a Mutual, a Building Society.

Agreed.

petra

So why don’t you change banks. Easily done now.

Which ones wont ask those types of questions?

My husband and I are both Nationwide customers who do online Banking. We were asked for these when logging on a few months ago. I did a 'due diligence' on it and was happy it was all in order. We supplied what they asked for and have never had any problems with it. I think the Government and HMRC are changing some rules and the Government is anxious for more investment savings rather than ISAs. I think in the latest financial statement they lowered the amount current workers could keep in savings in the Bank with ISA from £20,000 to £12,000 in cash and £8,000 in investment but don't quote me on those numbers. It remains the same old amount for older savers. Presumably, as mentioned above, all to do with money laundering and changes in Government policy.

I have been asked where the money I was opening an account with came from. They do ask now as so much money laundering.
I did wonder how they could check if you were telling the truth. I know I sounded vague as the money was from various sources.

I have banked with Nationwide for 30 plus years. Never once have I had to answer any personal questions re where money is coming from, even when opening a new savings account last year, holiday fund. Mind you have only got my two moderate pensions, so obviously not thousands to deal with. My sil in cypus, on transferring a large sum, had their bank account closed, thought they were illegal movements, disgraceful behaviour on part of Barclays, left them without funds, and nothing illegal. Only bank I trust is Nationwide.

I should remind you that Nationwide is not a bank but a Mutual, a Building Society. Therefore, any money that would have to be paid out resulting from fraudulent activity is effectively coming from mine or my husband's accounts! We find the security measures for accessing our accounts online to be very acceptable to protect our funds.

Savvy willy nilly. !!!!!

I have contacted both banks in the correct way, and both are genuine. The nationwide one is on their website as soon as you log in. The American Express one is genuine, DH has rung them twice in the correct way. I must just have been unlucky, although one of my sons is with nationwide and he has had the same request. We are all money savvy, and never give out details willy nilly.

The only time I have had to submit details of identification recently was when I opened an ISA with the Nottingham Building society. I wasn’t an account holder so wasn’t surprised that I needed to confirm my ID.

I have banked with Nationwide for many years and have used online banking since 2012. If I decide to set up a savings account with them, I have to answer similar questions to the OP regarding the source of my funds which, in an era of money laundering, I consider to be acceptable.

Yes I would change banks. I am very wary of sending details anywhere, regardless of who asks, unless it is for a very specific reason.

Are you sure these questions were from the genuine organisations, Riversidegirl ? They sound dodgy to me. If I were you I'd be phoning the bank to ask why they need you to answer them again.

The third degree from American Express could be dodgy too - why do two financial organisations seem to want all your personal details all at once? Mention the American Express demands to your bank when you phone them - there may be a connection there somewhere.

So why don’t you change banks. Easily done now.

I would be wary.

And there's more.....I have an American Express card attached to DH's AE account. They have been pestering me for my personal details. Even wanted me to send all my passport details including photo to their head office. I do not have an account with them. Explained it all on the phone, but they still want my details. I told them to cancel my card. Half the time we are being told not to give out our details in case of possible identity theft, then the other half they are demanding things like passports!