Credit Card Companies emulating Selftrade
Posted: December 21st, 2016, 9:42 am
It may be recalled that Selftrade went totally over the top in their interpretation or misinterpretation of what Money Laundering Regulations required. They were sold to Equiniti and withdrew most of the requirements before the hidden hand of the FCA could be confirmed or denied.
According to the Mail, it seems credit card companies, starting with M&S are going down the same route.
If you have several credit cards, the natural reaction to intrusive requirements from one of them is to close the account. Presumably businesses never set out to lose long standing customers, although you wonder sometimes.
http://www.thisismoney.co.uk/money/card ... ntity.html
http://www.thisismoney.co.uk/money/card ... hecks.html
https://www.theguardian.com/money/2016/ ... tails-scam
According to the Mail, it seems credit card companies, starting with M&S are going down the same route.
If you have several credit cards, the natural reaction to intrusive requirements from one of them is to close the account. Presumably businesses never set out to lose long standing customers, although you wonder sometimes.
http://www.thisismoney.co.uk/money/card ... ntity.html
http://www.thisismoney.co.uk/money/card ... hecks.html
https://www.theguardian.com/money/2016/ ... tails-scam