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I have had the same letter and form. Interestingly, the form is slightly different on the website.
I did have a helpful conversation with their helpline.
What they actually want is documentation for all material financial transaction payments into Santander for the last 12 months from when you return the form. Despite the impression, they explained that other information is not required.
So, for accounts opened more than a year ago, you do not have to give the source of funds at opening.
Nor do you have to give info for small payments in from family members etc.
Nor do you have to give the dates and cost of acquiring shares you still own if you have just received a dividend this year.
Where there is only space for one date in a section, you can write in the additional info that you have received monthly interest (e.g. on your 123 current account!).
What they really want is a copy of documentation from your counterparty for all significant inbound transactions to Santander for the last 12 months.
This may not be easy, but it is not as impossible as what the form seems to ask for.
If you have been saving all your life, it is theoretically asking for information about every source of money you have ever had, because a portion of all of those bits of money forms part of your savings!
For people who have not had the letter, it is this aspect that is bothering people and is not required by the regulations or indeed humanly possible in most cases.
I did have a helpful conversation with their helpline.
What they actually want is documentation for all material financial transaction payments into Santander for the last 12 months from when you return the form. Despite the impression, they explained that other information is not required.
So, for accounts opened more than a year ago, you do not have to give the source of funds at opening.
Nor do you have to give info for small payments in from family members etc.
Nor do you have to give the dates and cost of acquiring shares you still own if you have just received a dividend this year.
Where there is only space for one date in a section, you can write in the additional info that you have received monthly interest (e.g. on your 123 current account!).
What they really want is a copy of documentation from your counterparty for all significant inbound transactions to Santander for the last 12 months.
This may not be easy, but it is not as impossible as what the form seems to ask for.
If you have been saving all your life, it is theoretically asking for information about every source of money you have ever had, because a portion of all of those bits of money forms part of your savings!
For people who have not had the letter, it is this aspect that is bothering people and is not required by the regulations or indeed humanly possible in most cases.
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