Worldpay due diligence - director's personal details

[DKL]

I'm suddenly getting a lot of paperwork from WP asking for director's personal details, copies of driving licences etc and threats of withholding payment if they don't get it.
I rang to query why but didn't get past the recorded spiel at the beginning which basically says, we need this. There didn't seem a lot of point asking the question why as I suspect the answer will be, because..
I realise it's gdpr and all that but I've had an account with them for 15+ years and I don't recall giving this sort of detail before.
Anyone any idea why they want it now, or is it just part of that huge coverall of gdpr.

[jeremyc]

I suspect it is more likely to be a requirement related to the Payment Services Directive (PSD2).

[Mandat]

DKL said:

I'm suddenly getting a lot of paperwork from WP asking for director's personal details, copies of driving licences etc and threats of withholding payment if they don't get it.
I rang to query why but didn't get past the recorded spiel at the beginning which basically says, we need this. There didn't seem a lot of point asking the question why as I suspect the answer will be, because..
I realise it's gdpr and all that but I've had an account with them for 15+ years and I don't recall giving this sort of detail before.
Anyone any idea why they want it now, or is it just part of that huge coverall of gdpr.

I suspect that it's more to do with AML & KYC rather than GDPR.

[RicksAlfas]

I find Worldpay an expensive PITA but I'm not sure if all providers will be the same due to the nature of their business.
Every six months I have to change my password and I'm sure it's a wind up. "It must have at least 22 characters, including a capital, a number, a symbol and it must not be a derivative of your previous password or contain your date of birth, your inside leg measurement or any letter in your mother's maiden name".

[Al Gorithum]

I think they're all the same. New-ish regulations have made the UK a very difficult country to do business in.

[DKL]

They're adamant these details are needed so I've provided them. Not convinced but equally there are lots of rules now, I can't imagine it is just WP.

[Birkin1932]

Every ones gone KYC mad. I have 6 companies with NATWEST, they made me do one for each company - Madness absolute madness. Unfortunately banks in this country are no longer fit for purpose. The WP one was a walk in the park

[RicksAlfas]

I've just had the same letter as the OP.

Worldpay really annoy me, but are all card providers as bad?

[Jordie Barretts sock]

Ditched Worldpay years ago.

I use SumUp or Zettle for face to face or Square for online/card holder not present.

Worldpay are an expensive waste of time.

All of the above options are much cheaper and charge a flat fee per transaction whatever the card.

[RicksAlfas]

Jordie Barretts sock said:

Ditched Worldpay years ago.

I use SumUp or Zettle for face to face or Square for online/card holder not present.

Worldpay are an expensive waste of time.

All of the above options are much cheaper and charge a flat fee per transaction whatever the card.

Thanks for that. Do they charge a monthly fee irrespective of usage?
We're not big users, but it's a handy facility to offer.

[Jordie Barretts sock]

Nope. Only pay when you use it. They deduct 1.7% from the transaction.

They also credit your bank account quicker than Worldpay.

[DSLiverpool]

RicksAlfas said:

I've just had the same letter as the OP.

Worldpay really annoy me, but are all card providers as bad?

Try MOLLIE - very cooperative & customer focused