Protecting your account - updating your information
It's very important for us to ensure that the personal information we collect and hold about you is accurate in order to prevent crime and meet our legal obligations. This is particularly relevant for inactive accounts that haven't been used for a number of years. Inevitably, since these accounts are not being checked regularly, they pose a significant risk of being taken over by criminals impersonating the account holder and performing fraudulent transactions.
Therefore for your security we occasionally review all our accounts to ensure the information we hold, such as your name, date of birth and address, is complete and up to date.
What may we do?
If we believe your personal details are incomplete or incorrect, and especially if you haven’t used your account for some time, we may decide to freeze them to prevent unauthorised transactions being made. This will affect all savings accounts you hold with us, including those held in more than one name.
If your accounts are frozen, you will not be able to deposit or withdraw funds. However whilst you will not be able to access your accounts, any money you have will remain in the account and you will continue to earn interest.
Why do we do this?
We do this for two reasons. The Money Laundering Regulations require us to make sure the information we hold is up to date and accurate. But more importantly we want to make sure the money held in the account is safe and criminals can’t impersonate you because your data is not accurate.
How do I use my account?
To un-freeze your account, you will need to update your personal information by providing us evidence of your name and/or address. If your account has a passbook, you must send or produce it to us so that we can note the change of details.
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