CIFAS

JE2003

I have a CIFAS marker that won’t be removed for a few more years. My bank is now merging with another bank later this year and I’m concerned that the switch will result in the closer of my original account and a new one won’t be opened.

(edited 1 year ago)

Reply 1

DataVenia

Volunteer Team, Clearing and Applications Advisor

21

Original post by JE2003

I have a CIFAS marker that won’t be removed for a few more years. My bank is now merging with another bank later this year and I’m concerned that the switch will result in the closer of my original account and a new one won’t be opened.

Yup. That could happen.

Reply 2

Admit-One

Universities Forum Helper

21

I agree, it’s a possibility.

Reply 3

JE2003

OP

1

Original post by DataVenia

Yup. That could happen.

Are there any bank accounts I could switch to before, just to be safe?

Reply 4

DataVenia

Volunteer Team, Clearing and Applications Advisor

21

Original post by JE2003

Are there any bank accounts I could switch to before, just to be safe?

Not that I'm aware of. If you search for "CIFAS" here on TSR, you'll find people recommending banks which accept those with CIFAS markers. However, you'll also find people saying they tried those same banks and were turned away.

Reply 5

JE2003

OP

1

Original post by DataVenia

Not that I'm aware of. If you search for "CIFAS" here on TSR, you'll find people recommending banks which accept those with CIFAS markers. However, you'll also find people saying they tried those same banks and were turned away.

would I be able to open a Monzo account?

Reply 6

DataVenia

Volunteer Team, Clearing and Applications Advisor

21

Original post by JE2003

would I be able to open a Monzo account?

I don't know. Does it do any harm to try?

Reply 7

StriderHort

21

Original post by JE2003

would I be able to open a Monzo account?

Probably not, for a long time Monzo were a Cifas member for ID purposes only but in recent years I suspect they moved to full membership like most of the online 'banks'