Why do we ask you for proof of your identity and address?

If you are applying to open an account with us we will ask you to provide proof of your identity and address. This applies to all new customers, and in some circumstances, to existing customers.

We ask for this information to comply with money laundering regulations and to help stop criminals using our products and services to launder money and to prevent fraud.

All providers of financial products and services must have systems in place to prevent criminals from using them to "clean" their proceeds of crime. Our procedures include obtaining proof of your identity, address and date of birth. We also request information on how you intend to operate your account and where funds being paid into your account will come from. This information achieves the requirements of the Money Laundering Regulations and also helps to protect you and us against fraud.

Proving your identity can be inconvenient, but please remember that all building societies, banks and other financial institutions will ask for similar information.

How does money laundering affect you?

Criminals who make money from crime need to find ways to hide the money so that it can't be traced back to them. One way of doing this is to put the money into a building society or other financial institution account, in a way that hides where it came from and then to access it safely, later. Criminals may use a false name and address to make it more difficult to trace them and this is why we ask you to provide evidence of your identity and address. Please be assured that these checks do not mean that you are under suspicion. The only way we can catch criminals using the financial system is to check every customer.

What happens if we can't verify your identity?

We do not want to stop people using our products or services for lawful purposes. Unfortunately, if it is not possible to verify your identity, then by law, we will not be able to provide you with our products or services.

Giving us proof of your identity

You will be required to provide us with two documents, one from the personal identification list and one from the address verification list.

Personal identification - one item
Current full signed UK/EU passport
Current UK photo-card Driving Licence + paper counterpart (full or provisional)
Current UK full (old style) Driving Licence (provisional not acceptable)
Firearms certificate or shotgun licence
Inland Revenue Tax notification/demand/assessment (less than 12 months old)
Letter from Benefits Agency confirming entitlement to benefits or state pension

Address verification - one item
Council Tax bill or statement (valid for current year)
Utility bill or statement issued/ dated in the last three months/current year for water bills (mobile phone statements are not accepted) (internet prints are not accepted)
Bank/Building Society/National Savings statement or passbook containing current address (issued/dated in the last three months and not issued by the Society) (internet prints are not accepted)

If you have lived at your current address for less than three months you must also provide one additional item from the address list above that shows your previous address.

If you do not possess any of the identification detailed above please talk to us and we will tell you what other documents can be accepted.

Data Protection Act

The Society may make searches about you at credit reference agencies who will supply it with information, including information from the Electoral Register, for the purpose of verifying your identity. The agencies will record details of the search whether or not your application proceeds. The searches will not be seen or used by lenders to assess your ability to obtain credit. The Society may use scoring methods to assess your application and to verify your identity. Credit searches and other information which is provided to the society and/or the credit reference agencies, about you and those with whom you are linked financially, may be used by the society and other companies, if you, or other members of your household, apply for other facilities including insurance applications and claims. Alternatively, the Society may ask you to provide physical forms of identification.

You have the right of access to your personal records held by the society and the credit and fraud agencies. Under the Data Protection Act 1998, you have the right to see and receive a copy of any personal information that the Society holds about you. The Society will charge an administration fee of £10 if you make a request to see your personal records. Further information is contained in our leaflet Your guide to data protection which is available on request.

Fraud Prevention

Criminals can sometimes use the name, address and other details about an innocent person to open a bank account or carry out a financial transaction. They may get this information by sorting through your household rubbish for bills, credit card statements and other papers. By looking after your personal documents in the following ways, you can help prevent this happening to you:

Keep your personal documents in a safe place, preferably in a lockable drawer or cabinet at home
Destroy any unwanted documents, preferably using a shredder
Check statements as soon as they arrive. If any unfamiliar transactions are listed, please contact us immediately
Check your passbook balance before you leave the branch and let our staff know if you think there is an error
Report any lost or stolen passbooks to us as soon as possible either through our website at www.saffronbs. co.uk, by calling 0800 072 1100 or contact your local branch
When paying cheques into your account, do not make them payable to Saffron Building Society. Please make the cheque payable to the name of the person holding the account (e.g. Mrs J. Smith)