Ulster Bank - Closing all my accounts

Panrich

I have been an Ulster Bank customer for many years and have received several letters looking for me to go in and supply identification details. I thought that the regulation applied to accounts opened since 2010 as that’s when this law came in so I’ve ignored them all.

In any case, I do not have any accounts except those held in joint names (apart from a credit card that I pay off each month).

Our mortgage and joint account are held in joint names and they’ve now contacted my wife saying that they’re going to suspend her accounts as well as all joint accounts including the mortgage. We have never missed a payment and are not in arrears.

She knows what I’m like so is unsure how this is all going to end.

I think this should be an interesting few weeks ahead.

Anyone else gone through this with banks?

Mrs OBumble

You are refusing to co-operate with the know-your-customer requirements that the bank is legally required to operate, because you don't like the requirements or the way Ulsterbank have implemented them.

And you are willing to jeopardise your home and your marriage in order to make this point. Really? Really????

gwalk

Be an adult, send them the documentation and carry on with your life.

It's not as if they're quadrupling your repayments or something its literally submitting a document

Sonny noggs

You fight the man, OP. You are completely in the wrong but we are 100% behind you.

Timberrrrrrrr

Panrich wrote: »

I have been an Ulster Bank customer for many years and have received several letters looking for me to go in and supply identification details. I thought that the regulation applied to accounts opened since 2010 as that’s when this law came in so I’ve ignored them all.

In any case, I do not have any accounts except those held in joint names (apart from a credit card that I pay off each month).

Our mortgage and joint account are held in joint names and they’ve now contacted my wife saying that they’re going to suspend her accounts as well as all joint accounts including the mortgage. We have never missed a payment and are not in arrears.

She knows what I’m like so is unsure how this is all going to end.

I think this should be an interesting few weeks ahead.

Anyone else gone through this with banks?

What a very childish way to react to something so trivial! Grow up, send in the document and get on with your life ffs :rolleyes:

banie01

Bank enforcing it's legal obligations under Anti Money Laundering legislation and a customer assuming he knows better and is somehow exempted because they are somehow grandfathered in?

OP, comply with the perfectly valid request to Ulster Bank to provide the requested documentation, or deal with the consequences.
One of which ironically enough will be providing the documentation requested by UB to any other financial institutions that choose to do business with you.

van_beano

I sent such documents into my Credit Card issuer the other week as they requested it under AML laws. I had forgotten I did it until now as it was such an easy procedure.

They supplied me with a Freepost envelope and I used my work photocopier to copy the documents. Plus since I sent it during worktime I was also getting paid. All in all in cost me absolutely nothing to do something that took about 5 min's to do. My Credit Card issuer haven't been on to threaten me either.

Wheety

I'd let them close all my accounts and make me go into arrears to make a point too tbf. Then I'd go to the media complaining how the bank's legal requirements have left me homeless and I'd try and drum up support from the usual crowd on Facebook. Of course the story I'd put out there is that I've done nothing wrong and the bankers are harassing me. I'd then protest outside my local bank with a homemade sign and maybe alternate this with protesting outside Leinster House. I'd let it go as far as losing my job to make a point, you know what I'm like LOL.

Or else I'd just supply the identification as reasonably requested by the bank but ignored by myself.

Jim2007

Panrich wrote: »

I have been an Ulster Bank customer for many years and have received several letters looking for me to go in and supply identification details. I thought that the regulation applied to accounts opened since 2010 as that’s when this law came in so I’ve ignored them all.

In any case, I do not have any accounts except those held in joint names (apart from a credit card that I pay off each month).

Our mortgage and joint account are held in joint names and they’ve now contacted my wife saying that they’re going to suspend her accounts as well as all joint accounts including the mortgage. We have never missed a payment and are not in arrears.

She knows what I’m like so is unsure how this is all going to end.

I think this should be an interesting few weeks ahead.

Anyone else gone through this with banks?

It will be anything but interesting and it will not be a few weeks it will be more like years. Failing to comply with the requirements of the MLA makes you a potential suspect for criminal activity and you will eventually be reported as such if you continue with your silly little games. And if that happens, then the banks will be the least of your problems.

Just for example: if the bank closes your accounts every debt you owe will crystallise and become due on demand and will be reported as such on your credit report. And eventually, when you get it sorted out you will have to reapply for a mortgage etc... only this time round you have to explain your bad credit rating and why they should consider accepting a potential customer with a track record of failing to comply with the MLA....

You are being incredibly stupid in pulling this down on yourself and your wife. I only hope she has a good sense of humour, because she'll need it.