Non Resident Bank Ac - new rule
 

Just wondering if anyone else knows about a 'new' requirement.

Have just visited Sabadell Bank to update our contact details.

We were informed that it now a requirement to register our UK National Insurance numbers with the Bank.

Not having our NI details with us, we will have to go back with them.

Anyone heard of this and why it is necessary ie what the implications are.

Presumably if we we hadn't wanted our contact info changed we would be blissfully unaware of this new rule!

Note we are Non Residents with a property out here.

Re: Non Resident Bank Ac - new rule
 

No not heard of this - maybe the Spaniards are reporting information to UK (tax, property owned etc) using NI number which is for life as against passport number which of course changes.

Re: Non Resident Bank Ac - new rule
 

It is anti money laundering rules. Common throughout most of europe.

Re: Non Resident Bank Ac - new rule
 

Yes that is what they tells us but I would have thought that those who need to launder their money chuckle at this as they do what they do.

Re: Non Resident Bank Ac - new rule
 

It is really aimed at those depositing over 10k at a time. Some countries have lower levels. Paid 1000 Swiss francs into friends account to pay for holiday and her bank wanted information on where it had come from.

Re: Non Resident Bank Ac - new rule
 

Yes, we had to provide NiNo etc. Not sure if it's a banking industry/EU/Spanish or Sabadell rule.

Re: Non Resident Bank Ac - new rule
 

Thanks for the replies. At least they're not just picking on ME !

Re: Non Resident Bank Ac - new rule
 

About 6 months I got a letter from the bank re my non resident account to inform me that details of my account holdings etc could be passed to relevant authorities in my country of residence. I presumed same letter or email would have gone to all non resident account holders.

Re: Non Resident Bank Ac - new rule
 

It's not you - I had to do the same for my German bank about 6 months ago.. :)

Re: Non Resident Bank Ac - new rule
 

Our banks is now called Bankia. They requested the same information from us including photocopy of passports (colour) etc. And the good news is the information must be updated every two years.

Re: Non Resident Bank Ac - new rule
 

Every two years you have always had to certify that you are still non resident that is not new, you also have to pay for the bank to do this for you for each account holder. Although I have never had to provide photo copies of passport but that may be regional. I believe the new change from information I had from Cajamar is that due to new EU rules details of accounts held in the EU but outside your country of residence can be passed to you tax authorities in your country of residence. It didn't say they would but that they could? So I don't know if that means your country of residence authorities have to request that information or it will be sent without a request?

Re: Non Resident Bank Ac - new rule
 

Was in sabedell a few days back, haven't been asked yet to provide my NI number to them but have been asked for my NIE number from my UK banks so i guess its pretty standard