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Author Topic: Coming to a Club near you - Big Brother  (Read 2880 times)

dougal99

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Coming to a Club near you - Big Brother
« on: December 21, 2014, 10:04:15 AM »


Iím the treasurer of our club and recently received a questionnaire from the bank we use asking a load of apparently inane questions. These included wanting to know our monetary turnover, countries we traded in, source of income etc. I had to phone the bank and answer these questions and others. It took over 20 minutes. Explaining we were just a model boat club made no difference.


The bank have now sent me a summary which I and the club secretary have to sign. Any errors cannot be corrected by me I have to ring the bank and they will send me a corrected set of papers. The secretary and I then have to visit the local branch with our passports and driving licences to get them copied and certified. All the documents are then to be returned together with a copy of the club constitution, which we must have according to the bank, and which must also contain certain items as dictated by the bank.


Has anyone else had this indignity?


Big brother is coming, if not already here!
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morley bill 1

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Re: Coming to a Club near you - Big Brother
« Reply #1 on: December 21, 2014, 10:23:04 AM »

tell them there is no point as you will be moving to a less intrusive bank in the near future....bill...
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Neil

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Re: Coming to a Club near you - Big Brother
« Reply #2 on: December 21, 2014, 10:53:30 AM »

tell them there is no point as you will be moving to a less intrusive bank in the near future....bill...

I agree with Bill...when my wife ran the treasury section of our break away club at Fleetwood some years ago she went to the local bank and told them what it was for..they told her as it was just for paying subs in and simple things out it could be a normal savings account......not a business account.......tell them to sod off and go else where. neil.

ps......which bank is it..............I'll steer clear of such a beurocratic establishment.
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Tug Fanatic

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Re: Coming to a Club near you - Big Brother
« Reply #3 on: December 21, 2014, 11:42:32 AM »

I am not that surprised. I guess that they justify it under money laundering regulations.
 
Companies make exactly the same excessive regulations under the cover of the data protection act and health & safety.
 
All you can do is make a noise & head for the door.
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kinmel

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Re: Coming to a Club near you - Big Brother
« Reply #4 on: December 21, 2014, 12:13:21 PM »

The U.S. government has decreed that all banks with a presence in the United States must ensure that income tax is paid on all income earned by American citizens anywhere in the world and there are draconian penalties for banks that get caught out.

So U.K. banks with U.S. subsidiaries are asking many customers to confirm there source of income and nationality.  Moving to another bank won't save you.

As always the American Government don't care that the rest of the world is inconvenienced.
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inertia

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Re: Coming to a Club near you - Big Brother
« Reply #5 on: December 21, 2014, 12:21:45 PM »

I just wonder what percentage of the people who quote Data Protection as a reason for some excessive restriction or regulation actually understand the law. Similarly money-laundering controls. I was actually told by the assistant at the Post Office that they were forbidden from giving loose change in return for a note (e.g. for a bus fare) because of money laundering regulations.
Pillock.
As for the US Government, it seems they have learned a trick invented by HM Treasury years ago - place the legal obligation to collect and police tax on the businesses who generate it. That way you need far less staff, and far less training for those you do employ. Remember that the next time you have any dealings with HMRC.
DM
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dougal99

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Re: Coming to a Club near you - Big Brother
« Reply #6 on: December 21, 2014, 12:47:30 PM »

I suspect money laundering checks as well, but that doesn't explain the need for a club constitution and the stipulations of what it must contain.


The club has had this account for over 30 years and, until this year, had no problems. We now need 2 signatures for everything, apart from paying in. To transfer money to the deposit account requires the 2 signatories to go to the bank and sign the transfer slip in front of the teller. We no longer bother as the car park fee exceeds the annual interst.


I keep wondering if they want us to go!  >>:-(
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barriew

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Re: Coming to a Club near you - Big Brother
« Reply #7 on: December 21, 2014, 12:58:57 PM »

I didn't have this problem when I opened a Club account with the Co-op :-))


Barrie
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morley bill 1

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Re: Coming to a Club near you - Big Brother
« Reply #8 on: December 21, 2014, 01:19:11 PM »

may have to look at the coop if I need to move banks ....bill....
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inertia

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Re: Coming to a Club near you - Big Brother
« Reply #9 on: December 21, 2014, 02:56:05 PM »

Here's the solution.
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dougal99

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Re: Coming to a Club near you - Big Brother
« Reply #10 on: December 21, 2014, 04:02:26 PM »

Shouldn't the box be under the bed, not the other way round. :}


personally, I'd love to do it that way and I trust myself. Sadly, others are not so gullible er sorry trusting!  :police:
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boat captain

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Re: Coming to a Club near you - Big Brother
« Reply #11 on: December 21, 2014, 04:24:00 PM »

Open a treasurers account with the Nationwide Building Society our club account is with them no need for two signatures everything straight forward.
 :-)) :-)) :-))
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Joe
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TheLongBuild

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Re: Coming to a Club near you - Big Brother
« Reply #12 on: December 21, 2014, 04:34:25 PM »

Yes, but is it not better to have an account with 2 signatures as that way an individual with access is protected, I am sure that in most cases everybody is very honest but it does happen.  I believe our account needs 2 signatures.

barriew

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Re: Coming to a Club near you - Big Brother
« Reply #13 on: December 21, 2014, 06:54:50 PM »

Yes, but is it not better to have an account with 2 signatures as that way an individual with access is protected, I am sure that in most cases everybody is very honest but it does happen.  I believe our account needs 2 signatures.


In general I would agree with you. But with the advent of internet banking then its not very practical. I live over 20 miles from my club. There is no bank in the village so the only way I can reasonably do the Treasurers job is via the internet, and the Post Office for paying in.


At least having an account in the club name is a vast improvement on previous treasurers who either used an account their name, or the proverbial shoebox under the bed. When I took over I insisted on opening a club account and having the accounts audited each year.


Barrie
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NFMike

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Re: Coming to a Club near you - Big Brother
« Reply #14 on: December 21, 2014, 10:29:54 PM »

I was treasurer of a club for a few years. There was cash and also a bank account. However, the committee/chairman was so efficient that at no time during my tenure was I ever a signatory to the bank account - I worked entirely with cash which I had to keep in a box at home.
I did keep proper records, but it was still a bit of a nightmare. I was glad to pass it on to another mug club member  :D

ballastanksian

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Re: Coming to a Club near you - Big Brother
« Reply #15 on: December 22, 2014, 10:53:57 PM »

I was a club treasurer for a couple of years and I feared Subs time each year. The club was a charitable dining club, and we had a shared meal bill divvied equally between members and the club paid for any guests. So, despite preparing members at the previous meeting, I always got members trying to sort out their subs and their meal share and then change and making sure the subs balance and the meal bill balanced as well. It aint fun and I would definitly reccomend finding a less intrusive Building society.
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