Proving Your Identity

Why Prove Your Identity?

When financial service companies request evidence of identity, it does not mean that they suspect you of being a Robert Maxwell amount of ill-repute. No, the legislation requires them to validate the identity of the clients.

Usually, companies do so when you become a client. But, they might also ask you to show your identity if you're already a client. This can be due to:

You were a client ahead of the ID requirements became a lawful condition (i.e. pre 9/11) or if the criteria for tests were distinct from those required now.
The service supplier Might Want to Make Certain That the information it has on you're up so far
You Might Be applying for a new Service or Product
The company wants to shield itself and also you from fraud
Proving Your Identity

Neither the legislation enforcement or the UK's Financial Service Authority (FSA), put out particular details about how companies should authenticate their clients' individuality, nevertheless most reputable companies must stick to the business protocols in the Joint Money Laundering Steering Group (JMLSG).

Businesses might ask you for distinct kinds of identification, but many companies will request you for official federal identity documents to confirm your name and your speech or your date of arrival. The next examples include:

A UK government-issued record with your entire name along with a photo (for instance, a valid passport or a legitimate photocard driving license ), or
A government-issued record together with your entire name and name but with no picture (e.g old fashion UK passport), and another document that says your whole name and your entire name, your address or you date.
In case you are Not Able to Supply these for almost any reason, the aforementioned files, the following may suffice:

A letter by a local or central government service verifying a right to welfare/state advantages like a retirement, council tax, housing benefit, or
Suitable affirmation of identity by a young individual's office or education establishment, or
A letter confirming your idenity in a care home supervisor or a warden of sheltered accommodation or a refuge
All companies have their own policy on which files they will accept in order that they ought to clarify this to you ahead.

Where companies utilize electronic databases to verfiy your individuality (i.e. credit software ), they might not request that you give identity documents.