Bank asking for proof of income

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tomallen123
Posts: 105
Joined: Mon Nov 01, 2010 1:52 pm

Hi
My bank is asking me for proof of income as part of their money laundering checks.
I am a full time trader on BF and all my deposits and withdrawals go through this bank but apparently that isn't enough!
Been with the bank (Santander) for 7-8 years and never had a problem.
They've told me that they will lock my account in a couple of weeks unless I can provide proof of income.
Anyone else been through something similar or any ideas of how I can satisfy their requests?
Tom
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LeTiss
Posts: 4782
Joined: Fri May 08, 2009 6:04 pm

Wow, I've never heard that before

Have you had an opportunity to speak to anyone at Santander?
tomallen123
Posts: 105
Joined: Mon Nov 01, 2010 1:52 pm

I've spoken on the phone to them a couple of times and tried to explain the situation, however it's one of those situations where you can't speak to the necessary department directly and you're reliant on the person you're speaking to, to pass on the message.

There is a very clear paper trail on my bank statements and you'd think that would be all the proof they would need but apparently not!
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Dallas
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Is there no chance of an in bank face to face appointment with someone?

In regular times this would appear the best way forward then they can put it directly to the best person
spreadbetting
Posts: 3020
Joined: Sun Jan 31, 2010 8:06 pm

Maybe speak to your Betfair account manager they should be able to do a letter for you, we pay them enough.
LinusP
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spreadbetting wrote:
Sat Nov 21, 2020 11:55 am
Maybe speak to your Betfair account manager they should be able to do a letter for you, we pay them enough.
They will do this.
eightbo
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better shift your funds before that 2 week deadline comes as well to be on safe side.
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Andriy
Posts: 35
Joined: Fri Dec 20, 2013 5:39 pm

Are you doing multiple large deposits / withdrawals on a weekly basis, maybe that could be raising an issue of some kind? If so, is it possible to just leave sufficient funds in Betfair (even if a significant amount) and make an adequate withdrawal fortnightly or monthly.
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Derek27
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Location: UK

eightbo wrote:
Sat Nov 21, 2020 4:08 pm
better shift your funds before that 2 week deadline comes as well to be on safe side.
I was going to say it would be pointless warning a customer that their account will be locked in two weeks if they were going to allow the funds to be withdrawn. But as I write I'm thinking, where are they going to be moved to? Another bank will be asking the same questions and moving money along a chain of banks won't make things any easier. :)
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Euler
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Joined: Wed Nov 10, 2010 1:39 pm
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spreadbetting wrote:
Sat Nov 21, 2020 11:55 am
Maybe speak to your Betfair account manager they should be able to do a letter for you, we pay them enough.
Let us know if you would like us to try and help if you don't have an account manager.
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