VHI requiring IBAN

irishrover99

I'm in the process of trying to get life insurance with VHI but they have been ringing me looking for my IBAN number even before the application process has started.
I rang them back on the number advertised on the website looking for info and again i got a call back so it looks legit but sounds odd.
Anyway i have given it to them but can anyone clarify if this is normal.
They say its the only way they can make sure i'm a resident of Ireland as its not a face to face meeting.

daheff

it doesn't prove anything of the sort. It just proves you have a bank account with an Irish bank.

Can you provide utility bills/bank statement(you can redact any information other than name & address & date of issue) instead to prove residency (as would be the norm)?

TheChizler

daheff wrote: »

it doesn't prove anything of the sort. It just proves you have can Google a bank account with an Irish bank.

Slightly more accurate :pac:

irishrover99

I haven't been asked for utility bills or anything else.
Defo seems a strange process but the phone numbers i've been speaking to people on are from the VHI website.

The J Stands for Jay

VHI are pretty clueless.

Sleeper12

irishrover99 wrote: »

I'm in the process of trying to get life insurance with VHI but they have been ringing me looking for my IBAN number even before the application process has started.
I rang them back on the number advertised on the website looking for info and again i got a call back so it looks legit but sounds odd.
Anyway i have given it to them but can anyone clarify if this is normal.
They say its the only way they can make sure i'm a resident of Ireland as its not a face to face meeting.

There is nothing wrong with giving out your IBAN number. It's on every invoice I send out.

irishrover99

Sleeper12 wrote: »

There is nothing wrong with giving out your IBAN number. It's on every invoice I send out.

Grand.
Everything seems above board, phones numbers are legit by the looks of it,i have also rang them and its not the stereotypical guy on the phone with a foreign accent,he was from Cork
I'm just unfamiliar with this process so that's why i asking.
I've also sent an email to them to confirm it in writing so waiting on the response.

Anteayer

Is that even reasonable under GDPR rules?
You can't gather personal information like that without a purpose for it. The only reason for gathering banking information would be to process payments.

Anteayer

Sleeper12 wrote: »

There is nothing wrong with giving out your IBAN number. It's on every invoice I send out.

That's quite different as you're requesting payment to your business. GDPR applies to individual's personal data, not companies.

daheff

Sleeper12 wrote: »

There is nothing wrong with giving out your IBAN number. It's on every invoice I send out.

sure. Most people are honest & wont misuse the info.
Jeremy Clarkson said similar in his newspaper column years back & posted his ac number in his column. one of his listeners proved him wrong signed him up on a DD for a charity.

link here
http://news.bbc.co.uk/2/hi/entertainment/7174760.stm

Sleeper12

daheff wrote:

sure. Most people are honest & wont misuse the info. Jeremy Clarkson said similar in his newspaper column years back & posted his ac number in his column. one of his listeners proved him wrong signed him up on a DD for a charity.

But it's all reversible. No one can use your IBAN to permanently remove money from your account. This is the beauty of the IBAN. Great protection for the account holder.

Sleeper12

Anteayer wrote:

That's quite different as you're requesting payment to your business. GDPR applies to individual's personal data, not companies.

GDPR does not restrict what information a company can ask for. GDPR is about how this information is stored & used. GDPR is about your right to have information removed.

Vhi asking for an IBAN number has absolutely nothing to do with GDPR.

Anteayer

It is if there's no purpose for gathering the information in the first place.

You pretty much have to be able to justify why you're gathering personal information, why you're storing and processing it.

It would be extremely hard to justify gathering IBAN information if you're not using it to process transactions.

Sleeper12

Anteayer wrote:

You pretty much have to be able to justify why you're gathering personal information, why you're storing and processing it.

Nope.
You can gather any personal information that you want so long as op is agreeing to give it. GDPR only kicks in with how the information is stored & used. GDPR also kicks it if op wants the data deleted.

A hook up /sex dating website can ask if you are straight, gay, bisexual. They can ask if you like to be tied up, spanked etc, etc. A company can ask for any information they want & it has nothing to do with GDPR. GDPR is about how this information is stored and used. Used as in selling this information. Op can request that the information is deleted under GDPR but a company can request any information they want. Op has something we used to call free will. Op can provide the information requested or choose not to provide the information.

meeeeh

They don't need your iban before you sign up with them. I'm with Leya for a while now so I can't remember what the procedure was heath insurance but any for utility I switched I gave my bank details on the form when signing up.

I don't even know why would they be looking for it over the phone because you need to confirm direct debit mandate anyway. If or when you sign for the insurance you can provide them your bank details.

daheff

Sleeper12 wrote: »

But it's all reversible. No one can use your IBAN to permanently remove money from your account.

That’s not quite true, and its to do with SEPA rather than having an IBAN

It’s only possible to reverse a fraudulent transaction up to 13months from initiation. So small amounts can get missed if people aren’t so attentive to their account transactions.

Sleeper12

daheff wrote:

It’s only possible to reverse a fraudulent transaction up to 13months from initiation. So small amounts can get missed if people aren’t so attentive to their account transactions.

But as I said its totally reversible. People being dimwhits does not come into it. A dimwit not seeing it for 13 months does not mean that IBAN isn't totally secure. Like everything in life there is a thing called per responsibility.

It's your responsibility to go through your bank statement. Some people use the tap & pay dozens or hundreds of times per month. If they don't go through their statements they could be paying for coffee that they never got. I've been charged twice for the same toll transaction several times. That doesn't make the etoll tag a bad thing. I still use it but I take personal responsibility & check all my statements.