Enhanced Due Diligence

  • Hi...Just wanted to know what anyone else's experiences of EDD

    Got a email at 15.45 today (Friday)..Asked me for Bank Statements, Wage slips etc again no problem

    I sent back as soon as I read the email but got a reply saying it could take up to 7-10 days to respond..

    In the meantime I cannot deposit or withdraw...Talked to FI support and they said different dept. and they open Mon -Fri 9.30 till 17.30..

    So basically until they respond I cannot get hold of any of my money in my account.

    I appreciate the process and it has to be done but surely they cannot hold onto my money till they get round to looking at my documents (which could be 7-10 days)

    Why cant they ask for the documents first and give us 7 days to produce before suspending accounts

    I been here 2 years and have a Β£20K portfolio and have no problems affording this and have already last June produced documents but now I have to wait for my money till they get round to looking at my 3 bank statements and 3 wage slips

    Anyone else know how long this takes normally?

    This has seriously put me off FI and made me question being here if they can do this without any notice.

    Say I needed my money this weekend and its stuck here?

    Am I being over sensitive ..What's everyone else's thoughts experience regarding this?

  • @Scott-M I got a similar email on Tuesday, provided what they wanted and got a response on Wednesday. All sorted and account open as usual. Nothing to worry about, it’s something FI have to do.

  • @Chilling-Rick Thanks for that reply....Yeah I do think its a open and shut case for me as well just annoyed that they shut me down 1 hour before the weekend and probably wont get this re-opened until Monday

  • I'm having an issue with Barclays. I can't withdraw without sending a statement, however when I download from the Barclays app I get a message saying "download to default location".

    No idea what my default location is but it ain't in files folder on my device. I've gone to settings and checked app permissions that was no help.

    Anyone else had issues with Barclays that could help?

  • I am just after completing EDD this week and have detailed the below link for anyone who wants to check FI's stance on it.


    I was worried about going into it as I work for myself and heard it can be a bit of a nighmare to go through for self-employed people. To be fair the girls carrying out the process were 100% bang on and at no point did I feel being intruded on.

    They have a job to do as per regulations set out by the folks who protect us from rogue companies (link beneath)


    Anyone not hiding anything will have no problem going through the process and fuck it, if your account is on hold for a few days so what, it's no biggy as you can still trade and receive your dividends.

    I have seen many people in the past lose their shit over being on stop (For transparency, I was on stop for about 10 days) more so cause I was dragging my heels getting the required paperwork over.

    Hope this helps anyone going through it and who may be worried about their stake or the process

  • @Karl Thanks for your feedback..Good to know it's straight forward as you say πŸ‘

  • @Scott-M seems like these checks have been going pretty smoothly lately, but the live chat apparently is a good way to speed things up if it stagnates.

  • @Scott-M

    Hello mate , I did one about two weeks ago it was midweek so I don't know it as it's a weekend it may take longer.

    But I attached a photo of my driver license and a picture of my bank card that I use on FI, I covered middle half the front numbers , and a pic of the back signature cover your CV numbers though.

    I attached replied to the email they sent and was back in about 4 hours later.
    You can also login and chat on line to them , I did that 1st time round and that was sorted out quickly aswell. πŸ‘

  • @Doug-s Thanks for the feedback...I did log in to try and get it fast tracked and was told they were closed for the weekend..So if Neymar dips to Β£4 this weekend I not able for a top up...hahah

  • @Mintyfresh Thanks for the reply...I did chat on Friday and was told they were shut..I have no issue with the checks in fact I welcome it..I just don't understand why they start the process 15.45 on Friday 1 hour before they close..I never even saw email till about 17.00 πŸ˜”

  • @Scott-M bit naughty if you needed a quick trade, but as you say necessary

  • @Doug-s Yes thats my only issue plus the fact I could have wanted to withdraw some money before end of play on Friday....The actual auto email says 7-10 days reply so in theory I could be out the game for over a week and unable to withdraw any of MY money if I needed it this week....LOL

  • @Scott-M

    You're not being over sensitive no. They should do the check before you deposit not after.

    The only reason they do it this way, rather than the other way, is because they know if they asked for the documents first, it would put a bunch of customers off because plenty of folk couldn't be arsed and there are some who just wouldn't want to go through all of that.

    That said... we've all done it before and once it's done you can withdraw.

  • @Dan-The-Man Thanks for the reply...

    I have no issue with EDD just the fact they have closed me down on Friday 15.45 even though i sent the documents back by 16.45 it was still too late for them to respond

    All week/months/year to send this but to send this but to do it 1 3/4 hours before they close for the weekend.

    I been on all weekend to CS and they keep telling me its a different dept who we cannot contact direct but at the same time tell me they cant do more than send an email to them either. I'm sure it will be sorted on Monday but I do feel slightly wary now that at any point FI can suspend your withdrawal facility with no notice and only open it up again when it suits them...

    Its becoming more a point of principle now rather than any great need to withdraw money over the weekend..

    It is after all MY money.

    The suspending deposits whilst frustrating also if Neymar went down to Β£4 is something I totally accept as it is there product etc so they have the right to suspend that I guess at their leisure

    I tired to get an answer from FI to the justification of not so much the process but why its done in this manner and had no response so if anyone from FI is reading this forum feel free to respond here in this forum as I guess it would help others understand too.

    I certainly am open to a response from them here and changing my mind if they wish to respond here as so far I have no real response apart from wait till Monday from them

    This whole process though makes you think a little doesn't it

  • No Scott, it probably won't be sorted by Monday.
    It started on Friday and they have told you it can take up to 7-10 days.
    Now stop wasting the forum and CS's time with your whingeing.

  • @Robin-Friday Why don't you just go and read one of the many other posts somewhere else if this does not interest you

    It was not compulsory to click this to post to read....

    You are a bit of a silly boy aren't you if you don't understand how a forum works,,,,,,,,

    Sorry is that me whingeing again .........Have a nice day.....hahahahahhaha

    PS. Don't recommend you ever apply for a job in CS

  • @Scott-M take no notice of the prick

  • @Doddy Dont worry I dont....

  • i had the same query, and asked why they didn't do this before you start trading and they couldn't answer, and just said i had to do it.

    when i chased up as it was taking some time, they told something i had done wrong (my fault i know) asked them why they did advise me was basically told i needed to do it again properly.

    their customer service attitude stinks, but they don't care as they have you by the balls because they know you cant withdraw until you have done it.

  • @Neil-H Well first thing this morning I got switched back on..

    So if they had done this on Friday morning I sure I would have been back 2 hours later as it took them about 15 mins from coming in the office to switch back on.

    No problem doing this EDD its just the way they can switch off withdrawal just like that and leave all my funds tied up and unable to withdraw at my pleasure.

    I did mention this and was told they can switch off when you reach a threshold whenever they see fit

    I asked what constitutes a threshold and they said could not tell me as it was a private company policy

    So there you go...Make of that what you want.

    In fairness to the staff they were very helpful and I appreciate they were just doing there job and following a process which in my opinion is flawed

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