Global Warming and GDPR?

Closing business bank account process

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Have just finished chatting with someone at Clydesdale Bank re the process required to close a business bank account for one of our companies. Process simple, write to them, but then he mentioned they then would then send us  details of all transactions (statements) for the account for the last five years as part of the process.

Having now got off the phone I suspect this may be GDPR related, send it all out (in paper form not csv) and then presumably delete the records to  be compliant.

I appreciate business entities do not close accounts that often, but strikes me that now ,when making the decision to move bank ,one ought  to consider one's carbon footprint re the process.

If GDPR is the culprit then it ought to bow its head in shame.

Replies (3)

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By Accountant A
05th Feb 2019 13:28

Because banks have been demonised to such a degree, they are absolutely terrified of putting themselves at risk of being accused of not having done something. The response to this is to chuck everything and the kitchen sink at the issue.

I had a £250 monthly saver account with a well known high street bank. Maximum 1 year term so princely sum of £3,000 at the end of the year. Account matures so I want to open a new one. Wouldn't let me do it online. It took a 15 minute phone call covering everything from tax residence (I know, that's the Americans' fault) to investment choice to open it. I'll earn a total of £30 over the year. What do you suppose that's cost the bank??

PS The idea that the Government department responsible for GDPR would even consider the impact of the regulations at a practical level is wishful thinking. Government churns out all sorts, as we see with tax (generally and MTD as a specific example), with no clue about how the real world, which has to implement, works.

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Replying to Accountant A:
By dgilmour51
08th Feb 2019 11:45

Accountant A wrote:

PS The idea that the Government department responsible for GDPR would even consider the ...

The UK ICO is a disgrace compared to the French and German and Dutch - or indeed anywhere else in EU.
I have it on good authority that various parties are considering suing our ICO due tho their supine non-performance.

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By lionofludesch
05th Feb 2019 13:53

The Government aren't interested in global warming, except as an excuse for raising taxes.

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