Well I knew I couldn’t have been the only one this happened to… fortunately so far I managed to avoid account closure.
They first emailed me about Safeguard a few months ago. After filling in the form, they then asked me for proof of my (a director) address. Only… they sent the request for this _to the address they didn’t trust_. Fortunately it is my address (I’d changed it with them three years previous when they seemed happy about it).
So I provided proof, which was a pain, having to bother a neighbour for witnessing etc.
Before they accepted this, they sent a letter _to the address they didn’t trust_, saying the account would be closed and “we will not be revisiting this decision”. That arrived on a Saturday, which kinda ruined the weekend. When I phoned on Monday they stated that the letter should not be taken too seriously, and they would revisit the decision. At this point I was seriously doubting the competence of this organisation.
Next thing they flagged up was the revenue proportions. Like many software companies I sell software globally. So when they asked for percentages to different countries, I left 10% unallocated; it could be any country. Not good enough! They want to know exactly which countries I will be selling to in the future. I explained this is not knowable, and in the end just assigned it to the next-largest country.
Then they came back with the same question. I provided the same answer.
And again they came back with the same question. I provided the same answer.
After three retries they accepted the answer.
I continued chasing them on the phone once a week for the next month or so. All the time I was told that the application was with an ‘offshore team’. They didn’t seem to understand that it was a bit stressful that I had this account closure looming close.
And then I got another letter through the post saying “No further action is required”. Completely ambiguous as to whether this means I have now simply passed Safeguard, and the account will no longer be closed. That’s still something I have to chase up.