Why do they need all this info?!

[DaveUK]

I'm just in the process of setting up a Remittance account with PNB (finally after 6 months!).

Does anyone know why they need to know your salary and employer, etc?! Surely your passport and proof of address should be enough!

Just not sure I feel comfortable having to tell them that info and detail someone as a personal reference!

[Terpe]

DaveUK,
I can understand your concern. Just as long as they have enough information to comply with Money Laundering laws it should be enough.

[bornatbirth]

i think its more to stop fraud and money laundering, they must of changed the process since i set up my account

[Arthur Little]

Yes, I believe the ultra-cautious atttitude of banking chiefs in the Phils stems from their being the victims of a multi-million American dollars' scamming operation back in 2005 ... the end result being, that they've since become almost paranoid about security measures.

[RickyR]

It could also be the typical Philippines style, filling in a loyalty card in Rustans is almost as complicated!
I think often they don't use all the information, they just never question why they should need it, they just ask for it.

[DaveUK]

I think more than anything, it was the request for a referee that got me! Doesn't even seem to ask for a specific type of referee, ie a teacher, policeman, advocate, etc which seemed strange!

[dontpushme]

Wow, I didn't realise they ask for that much information.

[purple]

Is that the PNB in the UK? wow that is a lot of infos they are getting.

[DaveUK]

Is that the PNB in the UK? wow that is a lot of infos they are getting.

Yep, it is.

[somebody]

PNB in the Uk is like I guess the old style banks I hear about that my Mum worked at as a young Lady. Where they dont like to take risks. Sadly I think from some of the security I have seen it would, as Arthur says, appear they have been bitten and now a little shy.
Also with the speed of remittance they perform and the time it actually takes for the money to be credited I guess they just being ultra cautious.

Dont forget many of the OFW's who make up the bulk of their custom will possibly not had Bank accounts back in phill or any form of credit or payment history and their lives may well be far more traceable than the avg Brit..
Again while in the UK they may rent not have many Bills or history of paying bills themselves so hard to build up a picture of you..

Again with their main pool of customers consisting of OFW's most here with correct papers, but a few who are twisting the rules of their visas ie students working longer hours than legal in care homes etc or TNT's I guess they have to be ultra cautious.

I think we forget that UK banks from possibly 20-30 years ago plus have become places where for a few years banking and credit became too easy possibly and too little checks..
For the Wife and other new arrivals from Phill some Banks will have had quite stringent checks including having to list employers for references... I guess us Brits dont see so much of this...

[grahamw48]

I wonder if Imelda Marcos was scrutinised as closely when putting herself up for election...again.

Only in the Philippines.

[Steve.r]

Also with the speed of remittance they perform and the time it actually takes for the money to be credited I guess they just being ultra cautious.

Are you saying it take a long time to make the tranfer Somebody,? or do you mean it is so quick?
In my experience, my transfers are instant. No sooner do I make the remittence, it is deposited in my account in the PNB in Phils.

Maybe others have had bad experiences