I act for a small residents association with a turnover of £7K. We need a change of cheque signatories. Before agreeing the Co-Op bank want proof of ID of all 12 committee members. This is totally insane. Some of the info required, the members have flatly refused to supply. They are quoting FCA rules - are they correct or have we got a jobsworth?
Is this correct? Does anyone know how to access the rule book?