Credit Card - verification on additional cardholder?

[birdofprey]

I have a CC and my wife has been an additional Card Holder for several years.

They have just written to me informing me they require verification of her status under Money Laundering Laws.

It is a big hassle as they want copies of documents which have been verified by a professional (Not me) and it all seems a tad far-fetched for the fact she maybe spends about £100 a month on it.

My question is are they correct in law or is it their interpretation of the law?

[redcrx]

they can interpret it how they like, you are wanting their credit card, and i expect that after however may years they have now decided they want all existing customer to send info in, its not necessarily a new legal requirement. OK they are risking losing your business but only you can decide if you want to supply the required documentation.

[birdofprey]

I am well aware they can interpret it how they like, as I am also aware no one has an automatic entitlement to credit.

That wasn't what I asked.

I would like to know if they are legally correct in taking such a stance. I am quite happy to use a card from one of the other companies who keep sending me offers but would like to be aware of the legal situation before I threaten to give up a long-standing relationship.

[factor-fiction]

I'm pretty sure they are doing what they feel is necessary to comply with the law. If they fail to put in proper checks and money laundering later comes to light they would be in serious trouble. It does seem over the top in this case but I can't see why they'd do it just to inconvenience/upset customers. You may find there's an easy way of getting the docs verified- depending on who the card provider is they may suggest you get a certified copy taken at a particular bank .

[pretty_snowdrop]

If your wife was applying to be an additional card holder for the first time It would be a legal requirement to do Money laundering checks but it seems odd they are done after several years. I expect thousands of elderly folk have accounts which had no checks done.
The only exception i can think of is that the credit card company messed up when they initially added her to the account and didn't do the correct checks and they are now covering their backs.
I can't understand them wanting certified copies of documents either, a bank statement or utility bill should do showing her full name and address.

[maclarencat]

Just a thought . Are you sure it is from them? Check the return address as you will be sending proof of identity.

[birdofprey]

maclarencat They sent a pre-addressed envelope and telephone number, which I am going to call and inform them I am unhappy and unless they accept my word and details of my wife's bank account then I shall be returning both cards and they will be losing the business.

It took me five minutes to obtain a card on line this morning and they were able to check both our identities with the supplied bank details.

My feeling is that there was no need for this. It is a shame because the card came from a store and I had enjoyed the bonus of twenty pounds of vouchers every quarter.

[bednobs]

well if you want to keep the account but don't want to give wifes details just take her off as a card holder and get her to apply for one herself. It seems a bit cutting off your nose to spite your face to get rid of a card you like and want and get benefits from just because you don't want to give the details

[cathfromsaron]

they are probably asking for certified copies (ie. signed that the named person has seen the original) of identity/address documents for their files! any accountant or solicitor or whoever can certify with a given phrase and their name! BUT if you don't want to pay out - or ask someone you know to do it - why not ask if you can attend an office and have the documents copied in person? xx