Bank needing personal information and ID question?

Anthony2011 Registered Posts: 1 New contributor 🐸
Hello everyone, I am new to the forum and straight in with a question.

I am not sure whether I am being rightly cautious here or whether I am sticking to my principles too much. For 7-8 years of employment I have been a signatory on the bank account operated by my organisation. A recent change of organisation name has led to a review of the mandate and with this comes a request for me to provide proof of address and present valid ID to a branch in person. The bank have not been able to produce a valid reason other than “because we need them.”

My gripe is that me as an individual (my ID and home details) are not connected to my employment position.
Is anyone able to provide either the reason for this request from the bank, or share/dismiss my concerns.



  • Monsoon
    Monsoon Registered Posts: 4,071 Beyond epic contributor 🧙‍♂️
    It will will be in order to comply with the Money Laundering Regulations. It is now standard practice to ask for this (and indeed they are legally obliged to) so I wouldn't worry about it and go ahead and do it if you still want to be a signatory.
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