Does a bank account continue to function normally? For how long? Until he comes to a bank with a newly issued, prolonged passport?
What happens to one's bank account when his passport expires?
- Thread starter BalnearioCamboriu
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Usually the banks are doing compliance checks at least once a year. Part of it is also making sure that they have your updated identity documents and residential address. In general, you should get a request to provide the bank with updated KYC, if they didnt contact you i suggest you will contact them to avoid any further issues.
Mostly remotely, but depends on bank. They usually send an email or SMS requesting extra information.
I had this problem with a Georgian bank (TBC) which I don't really needed. I did not want to travel to Georgia so I've asked what they needed from me (they asked me for reverification). They needed a lot of things like apostilled birth certificate, another thing with notary and embassy, residency certificate and a lot of other things. When I've understand them correctly they even wanted something from my mother (I don't know what she has to do with my bank account!). Especially the mother thing request was waaay over the top crazy. I've transferred all my money out and bought some Amazon top-up︀ with the remaining money.
Probably all my accounts got closed and they've lost me as︁ client.
Probably all my accounts got closed and they've lost me as︁ client.
Depends if they want to make it easy for you or nah and also on the country / central bank with their rules. Some banks rely on the new passport having been checked by immigration (hence you need to physically show up), others can do checks themselves etc.
Some banks go out of their way to keep valuable clients by make it easy for them, others just dgaf, play dumb and request you go out of your way to keep your money at their precious shop.
Some banks go out of their way to keep valuable clients by make it easy for them, others just dgaf, play dumb and request you go out of your way to keep your money at their precious shop.
In the UK 9 out of 10 banks will never ask you to update your passport/ID. High street banks won't bother you with this nonsense. On the contrary most European banks located on the continent will in most cases ask for your new passport or ID on expiry.
Depends on the bank as already said here. One of the banks I worked with contacted me 1 month in extend before the passport expired and asked me to send a new one when it's available.
I can confirm that most tradional high street banks don't follow up on that.
Most banks don't ask for the new ID, unless there is a routinely KYC check (every few years) or if you visit the bank and use your new passport/id for identification.
Most banks don't ask for the new ID, unless there is a routinely KYC check (every few years) or if you visit the bank and use your new passport/id for identification.
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