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Does your bank have the right to ask you about your accounts in other financial insti

  • 12-11-2019 8:41am
    #1
    Foggy Jew
    Registered Users, Registered Users 2 Posts: 776 ✭✭✭


    Hi

    My bank has requested details of balances I have in other financial institutions, eg Credit Union. Is this legit?

    It's the bally ballyness of it that makes it all seem so bally bally.



Comments

  • #2
    duffman13
    Registered Users, Registered Users 2 Posts: 9,085 ✭✭✭duffman13


    Foggy Jew wrote: »
    Hi

    My bank has requested details of balances I have in other financial institutions, eg Credit Union. Is this legit?

    Have you applied for credit with them?


  • #3
    Tzardine
    Registered Users, Registered Users 2 Posts: 3,885 ✭✭✭Tzardine


    Are you applying for a new product or service? Like a loan etc ?


  • #4
    Foggy Jew
    Registered Users, Registered Users 2 Posts: 776 ✭✭✭Foggy Jew


    Nope. This was totally unsolicited.

    It's the bally ballyness of it that makes it all seem so bally bally.



  • #5
    Call me Al
    Registered Users, Registered Users 2 Posts: 3,033 ✭✭✭Call me Al


    Have they given a reason for their request?
    It seems very strange at face value.


  • #6
    Tzardine
    Registered Users, Registered Users 2 Posts: 3,885 ✭✭✭Tzardine


    Very unusual so.

    I would contact the bank and check that the request is actually from them, and not some form of phishing.

    If it is from them, then ask them at the same time why they are requesting it.


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  • #7
    duffman13
    Registered Users, Registered Users 2 Posts: 9,085 ✭✭✭duffman13


    Foggy Jew wrote: »
    Nope. This was totally unsolicited.

    Your under no obligation to answer so, not sure on the legal side of it but potentailly an ambitious employee trying to tempt a switch of mortgage/credit card


  • #8
    dartboardio
    Registered Users, Registered Users 2 Posts: 2,436 ✭✭✭dartboardio


    Any update op?


  • #9
    Salary Negotiator
    Closed Accounts Posts: 1,148 ✭✭✭Salary Negotiator


    Probably trying to up sell something, get you talking to an in house QFA.


  • #10
    Foggy Jew
    Registered Users, Registered Users 2 Posts: 776 ✭✭✭Foggy Jew


    Not yet. I'll update when I hear back.

    It's the bally ballyness of it that makes it all seem so bally bally.



  • #11
    joeguevara
    Registered Users, Registered Users 2 Posts: 8,167 ✭✭✭joeguevara


    On their website, they will have a privacy statement. This will outline the personal information that they harvest and the reason why they do so.

    Have a look and see if other accounts are on it and if so what the reason is. If that doesn't answer, request the reason why they asked. If you aren't satisfied state you consider it excessive.

    Then decide if you wish to make a complaint to DPC.


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