Notificacion Falta informacion KYC

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magpie69
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Notificacion Falta informacion KYC

Post by magpie69 » January 22nd, 2019, 5:10 pm

Had a message from La Caixa bank about needing to go to my branch (in Es Migjorn) to provide some information about my current account activity - something to do with anti- money laundering regulations. It needs to be done by March 15th or they will restrict some activities and eventually completely lock the account. Unfortunately we have no plans to visit this year, and certainly not before March 15th.
Anyone else had this request? Any ideas what info they need?
I hasten to add that the paltry sums going in and out of my account could in no way be mistaken for money laundering!

Bill

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Re: Notificacion Falta informacion KYC

Post by Sunseaker » January 24th, 2019, 11:01 am

:???: Is there any way you could contact them via email or phone and tell them your predicament.
I only let him think he's in charge.

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kieronf
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Re: Notificacion Falta informacion KYC

Post by kieronf » January 24th, 2019, 11:16 am

I don't know if this will be of any help, but they have an office in the UK - perhaps they can help ?
https://www.caixabank.co.uk/uk/home_en.html

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Re: Notificacion Falta informacion KYC

Post by petert » January 24th, 2019, 12:13 pm

Its all related to demonstrating that the bank has KYC - know your customer - procedures in place. If your account is old and inactive the bank needs to update your details.
The UK regulator fined Deutsche Bank UK £163 million in 2017 for inadequate procedures so it is a very serious business.

Did they ask you to complete a missing information form ?
You should be ok Bill, not aware of a prison in Es Migjorn !
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Re: Notificacion Falta informacion KYC

Post by magpie69 » January 24th, 2019, 12:49 pm

Thanks for your replies. I did actually ring the branch and they said it could be done online through Linea Abierta, but I tried without success. My lawyer, Toni Mercadal, who has power of attorney went in to try to do the necessary, but apparently my signature is needed. They did assure him that I could wait until I was next there to do it, so the immediate panic is over.
I will ring the branch again to confirm, and will give the UK office a try too.
Thanks again

Bill

Peter - nice to read your response and I hope your wife is doing OK. Still no movement on the apartment!
There Is a prison in San Luis, remember!

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kieronf
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Re: Notificacion Falta informacion KYC

Post by kieronf » January 24th, 2019, 2:05 pm

magpie69 wrote:
January 24th, 2019, 12:49 pm
Thanks for your replies. I did actually ring the branch and they said it could be done online through Linea Abierta, but I tried without success. My lawyer, Toni Mercadal, who has power of attorney went in to try to do the necessary, but apparently my signature is needed. They did assure him that I could wait until I was next there to do it, so the immediate panic is over.
I will ring the branch again to confirm, and will give the UK office a try too.
Thanks again

Bill

Peter - nice to read your response and I hope your wife is doing OK. Still no movement on the apartment!
There Is a prison in San Luis, remember!
Surely that's the whole point in legal power of attorney, your solicitor has the power to sign anything on your behalf.

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Re: Notificacion Falta informacion KYC

Post by magpie69 » January 24th, 2019, 3:24 pm

I thought so too, but hey-ho!

Bill

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Re: Notificacion Falta informacion KYC

Post by Keefyd » January 24th, 2019, 8:12 pm

I had to do this last year. They were going to set up the facility to do it online, but that failed, so I arranged to go into branch in San Clemente when I went over in May.
It’s anti money laundering procedures they have introduced, relating to questions that they should have asked when you first set your account up, but did not have the correct procedures in place to do so at the time.
You have to produce your passport and answer some questions about your income, how you fund your account, etc.
You then have to sign a digital tablet to confirm all the info is legit.

They warned me that they would freeze my account as of Feb, but after Inspoke to them and explained my situation, they understood and allowed me to complete the process when I was next on the island.
Lover of everything Menorcan. :jozza:

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Re: Notificacion Falta informacion KYC

Post by Boycie » January 24th, 2019, 8:31 pm

I would not worry to much, they told me the same thing last year and also that I could do it online it never worked online. I was assured they would not stop the direct debits.
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Re: Notificacion Falta informacion KYC

Post by the mad buyer » January 25th, 2019, 4:06 pm

It’s a very simple, easy process that take two minutes when in the bank.
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