Unenvironmentally friendly banking

19-10-2006

The recent comic strip “Offshore banking” was created after I’d had yet another conversation with a representative of a particular bank that was currently making me jump through hoop after hoop in order to set up a new account. With all these rules to combat money laundering they really make you wade through lots of red tape in order to create an account. And it is supposed to be easier over the internet.

Internet banking may appear easy once the account is set up but getting it to this state can be a pain. First you have to provide your driving license or passport, then a utility bill with your name and address on it. You can send these proof of identity items through the post but that can be a little risky so popping into your nearest branch is usually preferable, assuming there is one.

The problem is that they assume that you actually have a utility bill to produce. Those of us who have opted to be kind to the environment have most probably set up all our financial accounts for online billing. You can print your statements out if you need a hard copy but banks want those nice laser printed copies that you get sent in the post. If your online version is in PDF format and you have a really good printer then you may be ok. Otherwise you had better have at least one utility company still sending you a bill in the post.

Welcome to the unenvironmentally friendly world of banking.