Do you have a feel for which of these banks will expect, and to what
degree? As someone that lives in two places (parent's home and rented accommodation) and has bills at the latter, and is a postgraduate student (i.e. on the fuzzy line between student and employee), but meets the other two points, I'm wondering if I fall between too many lines to be useful on the initial board.
Mike Peel
===
I've just opened a business bank account with HSBC and this is what they asked for:
One document from List A (Confirmation of Name):
- HMRC Tax notification - e.g. PAYE Notice of Coding, WFTC notice, Children's Tax Credit notice (not P45/P60) - Bank or Building Society statement for your personal account dated within the last 6 months and showing receipt of salary and payment of utility bills - online statements are not acceptable - Construction Industry photot registration card
Alternatively bring your Valid UK Passport, Full UK Photo Driving License or Nationali ID card to a branch.
plus:
One Document from List B (Confirmation of Address)
- HMRC Tax notification - e.g. PAYE Notice of Coding, WFTC notice, Children's Tax Credit notice (not P45/P60) - Utility/Council Tax bill dated within the last 6 months - Credit card statement within last 6 months (not online) - Mortgage statement within 12 months (not online) - Motor insurance certificate (unexpired not cover note) - Rent Card or Rent Book (council / RHA not private landlord)
This gives you an idea. Each bank's list seems to be slightly different but they all ask for one thing proving name (normally includes passport / driving license) and one thing proving address (normally includes utility bill)
Note that banks will not necessarily need this info for all five trustees - sometimes just the main officers will do.
Regards,
Andrew Turvey Director Andrew Turvey Solutions Limited Registered Office: 23 Cartwright Way, Beeston, Nottingham NG9 1RL Registered in England, Registration Number 5596974
Information contained in this email may be confidential. If you are not the intended recipient please notify the sender immediately and delete this email from your system. Unauthorised copying, forwarding or other use of any confidential information in this email may result in legal action.
Do you have a feel for which of these banks will expect, and to what
degree? As someone that lives in two places (parent's home and rented accommodation) and has bills at the latter, and is a postgraduate student (i.e. on the fuzzy line between student and employee), but meets the other two points, I'm wondering if I fall between too many lines to be useful on the initial board.
Mike Peel
===
I've just opened a business bank account with HSBC and this is what they asked for:
One document from List A (Confirmation of Name):
- HMRC Tax notification - e.g. PAYE Notice of Coding, WFTC notice,
Children's Tax Credit notice (not P45/P60)
- Bank or Building Society statement for your personal account
dated within the last 6 months and showing receipt of salary and payment of utility bills - online statements are not acceptable
- Construction Industry photot registration card
Alternatively bring your Valid UK Passport, Full UK Photo Driving License or Nationali ID card to a branch.
plus:
One Document from List B (Confirmation of Address)
- HMRC Tax notification - e.g. PAYE Notice of Coding, WFTC notice,
Children's Tax Credit notice (not P45/P60)
- Utility/Council Tax bill dated within the last 6 months
- Credit card statement within last 6 months (not online)
- Mortgage statement within 12 months (not online)
- Motor insurance certificate (unexpired not cover note)
- Rent Card or Rent Book (council / RHA not private landlord)
This gives you an idea. Each bank's list seems to be slightly different but they all ask for one thing proving name (normally includes passport / driving license) and one thing proving address (normally includes utility bill)
Note that banks will not necessarily need this info for all five trustees - sometimes just the main officers will do.
Regards,
Andrew Turvey
That's pretty much the same as required to get a credit card, then, so I guess that anyone that's managed to get one of those should be fine....
Thanks.
Mike
Barclays Community Account:
"*Checks we need to make on all authorised person*
....
To do this we will make credit reference fraud prevention searches and other enquiries. Credit reference agencies will check the Electoral Register.
Records of credit reference searches made only to verify your identity will not be disclosed to other lenders to assess your ability to obtain credit.
....
*Checks wee need to make only on authorised persons who have, or are likely to have, a personal liability for money due to us*
We and credit reference and fraud prevention agencies will share your information. We and other organisations may access and use this information to make credit assessments and to prevent and detect fraud, money laundering and other crimes. Examples of circumstances when your information or information relating to your partner(s) or other members of your household may be accessed and/or shared include: * checking details on applications for credit and credit related or other facilities; * managing credit and credit related accounts or facilities; * recovering debt; * checking details on proposals and claims for all types of insurance; and * checking details of job applicants and employees.
.....
Credit reference agencies keep a record of our enquiries and may record, use and give out information we give them to other lenders, insurers and other organisations."
2008/9/12 Kwan Ting Chan ktc@ktchan.info:
Barclays Community Account:
[snip]
Well found. Could I have a link so I can see it in context? (I'm a little confused by all the dots!)
On Fri, 2008-09-12 at 00:18 +0100, Thomas Dalton wrote:
2008/9/12 Kwan Ting Chan ktc@ktchan.info:
Barclays Community Account:
[snip]
Well found. Could I have a link so I can see it in context? (I'm a little confused by all the dots!)
Um, nope. It's in the pack I had to spend 15 minutes on the phone in their branch requesting. I'll bring in along to the pub on Sunday. I'll type it out in full below for you to see the whole answer to those two questions.
-----
"*Checks we need to make on all authorised person*
We need to carry out certain checks on you personally for our own and for regulatory purposes both now and in the future.
To do this we will make credit reference fraud prevention searches and other enquiries. Credit reference agencies will check the Electoral Register.
Records of credit reference searches made only to verify your identity will not be disclosed to other lenders to assess your ability to obtain credit.
If false or inaccurate information is provided or fraud is suspected, details may be passed to fraud prevention and credit reference agencies. Law enforcement agencies may access and use this information. The information recorded by fraud prevention agencies may be accessed and used by organisations in the UK and in other countries. Please contact us if you want to receive details of the relevant fraud protection agencies.
*Checks wee need to make only on authorised persons who have, or are likely to have, a personal liability for money due to us*
We and credit reference and fraud prevention agencies will share your information. We and other organisations may access and use this information to make credit assessments and to prevent and detect fraud, money laundering and other crimes. Examples of circumstances when your information or information relating to your partner(s) or other members of your household may be accessed and/or shared include: * checking details on applications for credit and credit related or other facilities; * managing credit and credit related accounts or facilities; * recovering debt; * checking details on proposals and claims for all types of insurance; and * checking details of job applicants and employees.
In addition we will share information about you and how you manage your accounts with credit reference agencies.
Information held about you by the credit reference agencies may already be linked to records relating to your partner(s) or members of your household where a financial 'association' has been created. Any enquiry we make at a credit reference agency may be assessed with reference to any 'associated' records. Another person's record will be 'associated' with yours when: * you make a joint application; * you advise us of a financial association with another person; or * if the credit reference agencies have existing, linked or 'associated' records. This 'association' will be taken into account in all future applications by either or both of you and shall continue until one of you applies to the credit reference agencies and is successful in filing a 'disassociation'.
Credit reference agencies keep a record of our enquiries and may record, use and give out information we give them to other lenders, insurers and other organisations."
2008/9/12 Kwan Ting Chan ktc@ktchan.info:
On Fri, 2008-09-12 at 00:18 +0100, Thomas Dalton wrote:
2008/9/12 Kwan Ting Chan ktc@ktchan.info:
Barclays Community Account:
[snip]
Well found. Could I have a link so I can see it in context? (I'm a little confused by all the dots!)
Um, nope. It's in the pack I had to spend 15 minutes on the phone in their branch requesting. I'll bring in along to the pub on Sunday. I'll type it out in full below for you to see the whole answer to those two questions.
Ah, fair enough! Thanks for typing it. I'll bring anything I get tomorrow with me on Sunday too (including hand written notes). It looks like we wouldn't have much problem with Barclay's - as an incorporated charity, no individual would be liable for any money due to them, so they would just want to check for fraud, etc, rather than credit worthiness. I'm assuming no-one standing for the board has committed fraud! (Proving you haven't can be a challenge, but that shouldn't be insurmountable.)
Hi,
I don't think you need to ask the board those credit and residency qualifications, last time I dealt with this only one person needed to be checked out under money laundering rules - (though that could have changed or vary by bank).
And I wouldn't recommend that all directors were co-signatures. If three out of five are cosignatures and at least two have to sign any cheque that should be fine.
Regards
Jonathan Cardy (WereSpielChequers)
dahsun@yahoo.com
--- On Thu, 11/9/08, Andrew Turvey raturvey@yahoo.co.uk wrote:
From: Andrew Turvey raturvey@yahoo.co.uk Subject: [Wikimediauk-l] KYC requirements To: wikimediauk-l@lists.wikimedia.org Date: Thursday, 11 September, 2008, 11:14 PM
Do you have a feel for which of these banks will
expect, and to what degree? As someone that lives in two places (parent's home and rented accommodation) and has bills at the latter, and is a postgraduate student (i.e. on the fuzzy line between student and employee), but meets the other two points, I'm wondering if I fall between too many lines to be useful on the initial board.
Mike Peel
===
I've just opened a business bank account with HSBC and this is what they asked for:
One document from List A (Confirmation of Name):
- HMRC Tax notification - e.g. PAYE Notice of Coding, WFTC
notice, Children's Tax Credit notice (not P45/P60)
- Bank or Building Society statement for your personal
account dated within the last 6 months and showing receipt of salary and payment of utility bills - online statements are not acceptable
- Construction Industry photot registration card
Alternatively bring your Valid UK Passport, Full UK Photo Driving License or Nationali ID card to a branch.
plus:
One Document from List B (Confirmation of Address)
- HMRC Tax notification - e.g. PAYE Notice of Coding, WFTC
notice, Children's Tax Credit notice (not P45/P60)
- Utility/Council Tax bill dated within the last 6 months
- Credit card statement within last 6 months (not online)
- Mortgage statement within 12 months (not online)
- Motor insurance certificate (unexpired not cover note)
- Rent Card or Rent Book (council / RHA not private
landlord)
This gives you an idea. Each bank's list seems to be slightly different but they all ask for one thing proving name (normally includes passport / driving license) and one thing proving address (normally includes utility bill)
Note that banks will not necessarily need this info for all five trustees - sometimes just the main officers will do.
Regards,
Andrew Turvey Director Andrew Turvey Solutions Limited Registered Office: 23 Cartwright Way, Beeston, Nottingham NG9 1RL Registered in England, Registration Number 5596974
Information contained in this email may be confidential. If you are not the intended recipient please notify the sender immediately and delete this email from your system. Unauthorised copying, forwarding or other use of any confidential information in this email may result in legal action.
Wikimedia UK mailing list wikimediauk-l@wikimedia.org http://meta.wikimedia.org/wiki/Wikimedia_UK http://mail.wikimedia.org/mailman/listinfo/wikimediauk-l
On Thu, September 11, 2008 23:38, jonathan cardy wrote:
And I wouldn't recommend that all directors were co-signatures. If three out of five are cosignatures and at least two have to sign any cheque that should be fine.
WER were obliged to give details for *all* Directors, even though we made it clear that only three would have any power over the account.
Alison
ps. sfaiaa other banks in addition to the Co-operative Bank plc were approached; I just don't know which. The Coop happens to have a specific account for community organisations thus were the preferred option.
At 12:49 +0100 12/9/08, Alison Wheeler wrote:
On Thu, September 11, 2008 23:38, jonathan cardy wrote:
And I wouldn't recommend that all directors were co-signatures. If three out of five are cosignatures and at least two have to sign any cheque that should be fine.
WER were obliged to give details for *all* Directors, even though we made it clear that only three would have any power over the account.
Noted:I was not aware of the that!
Alison
ps. sfaiaa other banks in addition to the Co-operative Bank plc were approached; I just don't know which. The Coop happens to have a specific account for community organisations thus were the preferred option.
Well, maybe, but my local history group were also rejected by the Co-op (bad credit for one of the three of us). We ended up at the local credit union. Same signatories, same constitution. We don't have a cheque book, but we do have BACS etc.
Gordo
WER were obliged to give details for *all* Directors, even though we made it clear that only three would have any power over the account.
I've just been visiting some banks and some wanted details of all directors, but they only actually wanted ID and whatever from signatories. Others only cared about signatories.
ps. sfaiaa other banks in addition to the Co-operative Bank plc were approached; I just don't know which. The Coop happens to have a specific account for community organisations thus were the preferred option.
Most of the banks I spoke to had a dedicated community or charity account (Nationwide and Abbey only had savings accounts for them, I assume we want a full current account?).
I spoke to HSBC, Barclays, Lloyds and Natwest, all said much the same things (I have leaflets and packs and forms and things from them which I will bring on Sunday [if I can make it - it's possible I won't, something has come up that may get in the way]). All except Natwest said they wouldn't do any credit checks on signatories, they just need two forms of ID (one with address). Natwest said they would credit check, but it was easy to pass and students should have no problem (I realised after I left that I hadn't mentioned it was an incorporated charity, the checks may only be for unincorporated since the directors are personally liable then - we can double check that later). They all want all kinds of paperwork - the Mem and Arts, Certificate of Incorporation, minutes of the board meeting appointing officers and deciding to open a bank account, etc. It's all stuff we can manage, though. The checks they do run (to check you exist, I suppose) should take a week or two. I asked HSBC (forgot to ask the rest) about under-18 directors and they said it would only be an issue if we wanted to borrow money (which we don't), and even then it might be fine (she wasn't sure).
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