The downside is they're looking for certified copies. I really don't have the time or inclination to organise this. They are saying that they have to periodically ask for "up to date proof of identity", even when no new business is being transacted: keep in mind this is a "bank" that doesn't do any new business. I don't believe this to be the case, though I'm no expert. Is it a requirement of the act? If it is, do all banks send out similar letters? If not, why not? If it isn't a requirement, why are they sending such a misleading letter out unnecessarily? Incompetence? Some other reason?
Was planning a withdrawal from my offset deposit account later in the month so I think I'll put the prepaid envelope to good use for this and save on a stamp.
They chanced their arm with me before and it cost them so they'll be brave to try it again.That is assuming you don't find that the account has been frozen!
They chanced their arm with me before and it cost them so they'll be brave to try it again.
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