NAB is making it difficult to approve the credit card application

Ash-Say on 07/09/2016 - 17:28

I applied onlone for a credit card with NAB. It was referred and then they gave conditional approval pending income verification. They asked for recent payslips and centrelink statement which I provided. When I made a follow up call after two days, the customer service advisor in account acquisition team advised that I have been requested wrong documents and I now need to provide last 3 months bank statement showing salary deposits, ATO Notice of Assessment and copy of Passport. When I asked for justification, I was put through to supervisor who advised they need these document to further review my application. It means the information provided by customer service advisor was misleading as he said I was requested wrong documents.

I am confused why they need these additional documents and the request to provide copy of passport is also unreasonable. ID verification should have already taken place when they did credit check against Veda or Dun and Bradstreet.

Any advice please.

Financial

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Comments

  • cameldownunder on 07/09/2016 - 18:20
    -6

    Because that's the protocol in the processing factory in India.

    • Ash-Say on 07/09/2016 - 18:21
      +1

      I didn`t speak with any indian staff today.

      • cameldownunder on 07/09/2016 - 18:22
        -2

        Maybe still being processed in India.

  • urahara on 07/09/2016 - 20:19

    Possibly due to some mis-management by the guys whom you sent the application . I had got mine in 5 days

  • chumlee on 07/09/2016 - 20:26

    Most likely due to the industry or job description you entered otherwise it's a PEP check.

    • Ash-Say on 07/09/2016 - 21:25

      I am not PEP :)

      • chumlee on 07/09/2016 - 21:30

        You may have the same name as a PEP which is why they want a copy of passport to verify. It's called a false positive. I see this occur often.

  • seanbaussie on 07/09/2016 - 20:32
    +13

    To be fair, they have the right to make it as hard as they like and ask you for whatever they desire - they are the ones issuing the card.
    And you, of course, have the right not to apply or not to provide and have your application rejected.

  • whooah1979 on 07/09/2016 - 20:36
    +3

    the request to provide copy of passport is also unreasonable.

    requesting an applicant to supply a passport is more than reasonable. it's after all 70pts.

    • Ash-Say on 07/09/2016 - 21:22

      I knew someone would say this. Let me explain:

      Under the requirement of AML/CTF Rules 2007, only certified ID copy is acceptable otherwise you need to sight the original. Alternatively, you could use two independent electronic sources. This is where banks ask for your passport/driver licence/medicare details. When they do credit checks via Veda, Dun and Bradstreet or Experian etc, these vendors also provide identity verification because they are subscribers of DVA(government identify verification portal). These vendors match your full name, date of birth and residential address against electrol, white pages, RMS, immigration and medicare etc.

      Based on these requirement, asking for plain passport copy is absurd.

      • whooah1979 on 07/09/2016 - 21:29
        +1

        Based on these requirement, asking for plain passport copy is absurd.

        that is your opinion. this issuer thinks otherwise. like seanbaussie says. your choices are very clear. either comply with this or find an issuer that are less strict.

      • whooah1979 on 07/09/2016 - 21:31
        +2

        These vendors match your full name, date of birth and residential address against electrol, white pages, RMS, immigration and medicare etc.

        none of these forms are primary docs. have you supplied a primary doc?

        • Ash-Say on 07/09/2016 - 21:36

          What is your definition of primary document?

          By the way, I think you missed the point that documents are not mandatory if electronic verification could be done.

        • whooah1979 on 07/09/2016 - 21:38
          +2

          @Tipu:

          What is your definition of primary document?

          have you supplied any of these docs to this issuer?

          Primary Documents
          70 Points
          Only one of the following may be claimed:
          Birth Certificate
          Birth Card issued by a Registry of Births, Deaths and Marriages
          Citizenship Certificate
          Current Passport
          Expired passport which has not been cancelled and was current within the preceding 2 years
          Other document of identity having the same characteristics as a passport including diplomatic documents and some documents issued to refugees

        • spackbace on 07/09/2016 - 21:42

          @whooah1979:

          ^This

          Veda only needs drivers license number to verify you. That's not photo ID or sufficient ID

        • whooah1979 on 07/09/2016 - 21:45

          @Tipu:

          By the way, I think you missed the point that documents are not mandatory if electronic verification could be done.

          that's the first time i've come across a blue chip that plays it fast and loose.

          the rest wants a minimum.

          Important:
          • Original documents are to be provided in all cases without exception
          • A minimum of one (1) primary document must be provided.
          • A minimum of one (1) document must contain photo identification.
          • A minimum of one (1) document must contain current address details.

        • Ash-Say on 07/09/2016 - 21:50

          @whooah1979: I think we are deviating from the real topic. I would just ask you one question based on your above explanation.

          How many times you provided ID copy when you applied for credit card?

        • whooah1979 on 07/09/2016 - 21:54

          @Tipu:

          How many times you provided ID copy when you applied for credit card?

          never once have i provided id for a cc application. i was a customer (bank account holder) long before i applied for a cc.

        • Ash-Say on 07/09/2016 - 21:57
          -1

          @whooah1979: That was my whole point. ID is not required.

          Anyways thanks for your feedback, would provide the requested documents to NAB as I don`t want to leave enquiry on my credit file for nothing.

        • Ughhh on 07/09/2016 - 21:59
          +2

          @Tipu:

          Last time I applied for CC with a bank I've never banked with (not NAB), I had to provide a copy of ID, as well as various other documents.

          They're the one lending so I think they have the right and legal obligation to ensure they're lending responsibly.

        • Ash-Say on 07/09/2016 - 22:01

          @Ughhh: thanks for your input.

        • whooah1979 on 07/09/2016 - 22:02
          +3

          @Tipu:

          That was my whole point. ID is not required.

          what? of course it does. i provided the issuer a of my passport eons ago, long before a cc was ever needed.

          would provide the requested documents to NAB as I don`t want to leave enquiry on my credit file for nothing.

          there you go. you should have done that from the get go instead of wasting time asking about on ozb.

    • rt1111 on 08/09/2016 - 18:56

      The amount of credit card fraud is astounding. They need some assurance that they can get their money back. If you don't like it, go somewhere else for credit.

  • spackbace on 07/09/2016 - 21:41
    +12

    Here's a little question map (like a primary school kid does) I wrote up that can help you:

    Do
    you
    want
    this
    NAB
    credit
    card? ——- Yes ——- Scan and send a copy of your passport
    |
    |
    |
    No
    |
    |
    |
    Do nothing and go apply elsewhere

    Simple really :)

    • Ash-Say on 07/09/2016 - 21:46
      +2

      Hahaha

      Ok :)

    • Hunter80 on 07/09/2016 - 22:17
      +2

      Thank you mate,
      Why can't we have more people like you…
      Make it really simple so people with varying level of intelligence can all understand.
      Thanks you.

  • whooah1979 on 07/09/2016 - 21:48

    do you have a passport?

  • 01011010 on 07/09/2016 - 21:55

    the only issue with getting this far along with the process and starting it again is the credit check counts on veda/d&b. you don't want to do this too often it will reflect badly on your credit score.

    • Ash-Say on 07/09/2016 - 22:00
      +1

      The last time I checked 1 week ago, my score was 798 so just below top rating of Excellent. On average in a year, I would have 2 credit enquiries.

      • [Deactivated] on 08/09/2016 - 00:17

        They sure have you people jumping at their every whim.
        My credit rating -> NOT IMPORTANT EVER.

  • zealmax on 07/09/2016 - 22:55

    Never had to provide any documents for Amex.

  • pjcook on 08/09/2016 - 07:38

    Because NAB have the Credit Card you want so they can set the criteria as they see fit…….

  • Dazza610 on 08/09/2016 - 10:36

    Maybe they think you are a bad credit risk, and they don't want to put an extra burden on YOU to re-pay any outstanding debit.
    They are only looking after your OWN financial future.
    Ask yourself this: Would you lend money to yourself?
    If you have to add up your ALL of income, then deduct expenses to see how much you have left-over at the end of the Month/Week, then you are living from pay-to-pay, then surprise - surprise, you answered your own question.
    As the rich would say; if you have to ask how much something is… Then you can't afford it.
    You obviously have a savings account with a bank (other than NAB) why don't you apply for a CC with them, or maybe you have and they rejected you also?
    If you still wish to lug a mill-stone around your neck, open a savings account with NAB and deposit regular amounts into that account even if it is only $50 a month/week, that shows that you have the ability to re-pay your CC and they probably will look at your application again.

  • Baysew on 08/09/2016 - 11:38
    +1

    ID verification should have already taken place when they did credit check against Veda or Dun and Bradstreet.

    However, that does not mean that the person applying for the card is the actual person.

    Hence the request for additional documents.

  • naritas on 08/09/2016 - 19:53
    +1

    Tipu, from what you describe there is a chance that there was operator error or your enquiry was not handled optimally. That said, NAB staff would be required under their customer due diligence (CDD) framework to go through steps to check and verify your identity AND any potential risk of breach of AML/CTF laws - which, after being assessed, would then dictate to them whether they might want further verifications above the prescribed minimums and/or to set up a monitoring system on your file. For anyone interested, you can read up on bank CDD procedures here.

    Suffice to say, without you disclosing a lot of personal information on this forum (which would be unwise) it would be hard to say for sure whether you happened to set off any red flags in their system in between when you first enquired and when further information was ultimately requested. Note that being flagged isn't an indication that you are a bad person, as Chumlee pointed out, sometimes people can be flagged as PEPs just because they share a name in common, other times your sources of income or wealth, or some other relatively non-controversial set of characteristics combine to cause applicants to be flagged.

    As people who work in the credit industry, our team sympathises with you. We can vouch for the fact that the level of verification can be really bothersome, slow & inconvenient. However, and this is important to note, the levels of credit fraud both in Australia and globally is reaching ridiculous levels. So companies working to limit criminal behaviour, despite the process a real pain in the neck for decent people with honest intentions, is actually a good thing for society as a whole.

    Hope this helps and best of luck with getting a positive outcome on your app.

    • Ash-Say on 08/09/2016 - 20:05

      Under AML/CTF Rules 2007, Passport copy is not acceptable unless it is certified or someone sight original so not sure how NAB is meeting their regulatory obligations :)

      Anyways I submitted all documents yesterday so it is a waiting game now.

  • nikhi24 on 09/09/2016 - 02:21
    +1

    I find them an odd bank. Messaged them on internet banking saying debit visa lost please cancel. They put a hold on it for 21 days and if I dont "ring" or go "in branch" they will take the hold off. I have messaged numerous times saying it is not temporarily lost its actual lost but they wont cancel it or reissue another card. This has been going on for months now. I have told them I refuse to discuss it further, I have told them to cancel card and have copies of the message exchange and if they reactivate card because I refuse to ring its on them. I know I could ring….I've just decided not to.

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