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Bank seeking intrusive information

Discussion forum for expats moving to or living in Portugal.
Subforums: Property for Sale/Rent, 2nd Hand Items for Sale/Wanted

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Bank seeking intrusive information

Post Posted: Thu Jun 29, 2017 11:34 pm

A few weeks ago our Portuguese bank wrote to my wife seeking information from her. We have a normal joint account in the bank, always in credit and pay the charges as they fall due. Although we are non- residents as out house is a holiday one, we do make a tax return and are registered with Social Security as we have photo voltaic panels which generate electricity which is sold to EDP. In order to open an account with the bank we had to have NIFs.

As you can see from the attachment the information sought is very detailed, intrusive and in many cases e.g our academic qualifications very difficult to justify. In the case of enquiries about political involvement the enquiries are alarming and clearly irrelevant for Non residents who may or may not be politically active at home but have no votes here. One suspects that such an enquiry may well infringe the ECHR.

I asked the bank why they wanted this information and they have replied that "that all portuguese banking institutions are required to gather the requested fiscal information, from all our clients, resident or non-resident.",

I wondered how many, if any, Expat Focus members had been asked for all this information and had provided it. Our Portuguese accountant says that as non residents we are not required to provide it.

Many thanks.

Craib

PS I have had great difficulty in adding a Tiff of the form so I tried to add photos of some of the pages ,however the system would only accept one page so I am writing a second post with the second page to give you a better feel for the form. Apologies!


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Craib
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Re: Bank seeking intrusive information

Post Posted: Fri Jun 30, 2017 2:39 pm

Craib, Did this did not start about the same time as your import went wrong? could it be related?
John


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BERGY
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Re: Bank seeking intrusive information

Post Posted: Fri Jun 30, 2017 2:57 pm

Bergy,

Thanks for the reply.I do not think so as the TV Box which customs held up was going to a friend's address not ours as we would not be there to accept delivery. In any event if Expatvision, the box's suppliers, are correct there is a general tightening up at Portuguese customs.

Craib

 

Craib
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Re: Bank seeking intrusive information

Post Posted: Fri Jun 30, 2017 5:58 pm

- Craib

A few weeks ago our Portuguese bank wrote to my wife seeking information from her. We have a normal joint account in the bank, always in credit and pay the charges as they fall due. Although we are non- residents as out house is a holiday one, we do make a tax return and are registered with Social Security as we have photo voltaic panels which generate electricity which is sold to EDP. In order to open an account with the bank we had to have NIFs.

As you can see from the attachment the information sought is very detailed, intrusive and in many cases e.g our academic qualifications very difficult to justify. In the case of enquiries about political involvement the enquiries are alarming and clearly irrelevant for Non residents who may or may not be politically active at home but have no votes here. One suspects that such an enquiry may well infringe the ECHR.

I asked the bank why they wanted this information and they have replied that "that all portuguese banking institutions are required to gather the requested fiscal information, from all our clients, resident or non-resident.",

I wondered how many, if any, Expat Focus members had been asked for all this information and had provided it. Our Portuguese accountant says that as non residents we are not required to provide it.

Many thanks.

Craib

PS I have had great difficulty in adding a Tiff of the form so I tried to add photos of some of the pages ,however the system would only accept one page so I am writing a second post with the second page to give you a better feel for the form. Apologies!



I have had several Bank Accounts in PT over the years & never been asked to supply any info other the standard opening account info.


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Ingles
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Re: Bank seeking intrusive information

Post Posted: Sun Jul 02, 2017 7:54 pm

My girlfriend worked for Millennium for over 30 years and was a Manager when she retired. I have shown her your post and she says that, as far as Millennium is concerned, they have not used that form since they were computerised and that it is well out of date! The information that they are asking for is what would be required at the time that an account was being opened. That begs the question, why now?

You may or may not know that there has very recently been a big shake up at Caixa including a total reorganisation of their Administration Department. My GF feels that they are trawling through their records and trying to play catch up with information that is missing. She says that you should go back to Caixa and say something along the lines of, I know that this information is required at the time an account is opened so we would like to know why you need it now after 'n'* years of operating the account without issues.

* Insert your own figure here.

She also said that if you were sitting in front of her now to open an account, they would only require a fraction of that information, resident or non. She also suggested that, if you do not receive an answer that you are happy with, you should tell them that you will be closing the account.

If there is anything else that you want help with or would like to talk personally, please drop me a PM with your telephone number and we would be happy to give you a call.

 

Jetlagged
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Re: Bank seeking intrusive information

Post Posted: Tue Jul 04, 2017 8:23 pm

Jetlagged,

Very many thanks and to your girlfriend for your most helpful response. Apologies for the delay in responding.What may well reinforce your girlfriend's assessment is that the letter to the UJK which started matters off was only addressed to my wife - although it is a joint account which we have had for 10+ years. I remember opening the account where the only hassle was getting a NIF as we were making fleeting visits from the UK while the house was built.

I may well come back to you as you kindly suggest but we are currently treed in the UK in a downsizing exercise and so not clear when we will get back to Portugal this year.

Craib

 

Craib
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Re: Bank seeking intrusive information

Post Posted: Tue Jul 04, 2017 8:33 pm

You're welcome Craib. We'll be here if you need anything else. Meanwhile, it sounds as though a change of bank maybe on the cards when you return.

Best of luck in the UK.

Colin

 

Jetlagged
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