Beware: This bank is involved in a money laundry scandal. This affects you as a customer!
This bank is responsible for one of the biggest financial money laundry scandals in Europe (and possibly world-wide). You should know this, before you bank with them - it affects you as a customer!
If you don't know what this bank has done, Google "Danske Bank money-laundry". The scandal affects you as a customer directly and pretty badly: they will send you through an intrusive, bureaucratic, threatening and unpleasant "scrutiny process" in which you will need to justify individual transactions on your account (e.g. why you bought that guitar on eBay, where you went on vacation, why you traveled, where you work, if that work is full-time etc). They will require all kinds of certifications from your employer. They will insist on personal and individual interrogations, written communication will NOT be sufficient.
In short: think of the worst tax audit you ever had, double the time, effort and pain you went through to resolve that - and you are beginning to understand what Danske Bank is doing to their customers. Worst of all: there is no telling when this nightmare is over. Since US authorities are now in the game, too - who knows if your Danske Bank accounts will be accessible from abroad in future. So next time you travel to the US, bring enough cash to be sure...
EDIT after the reply from Danske Bank:
Dear Tina,
I know that the Danske Bank PR guideline is to never acknowledge, let alone take responsibility for the crimes that Danske Bank committed. A simple "Danske Bank messed up, we are really sorry" would go a long way...
In fact, to your customers a reply like your's is insult to injury: existing customers are of course naked in the eyes of the bank; in our case you can see +15 years of detailed transactions, you know our portfolio, you know where we work, you even financed our real-estate - how dare you say the bank needs to know who we are? In fact, many of the documents you require again have been submitted to Danske Bank years ago.
And to your point that other banks need to do this horrible procedure now, too: Let's be honest - had Danske Bank not messed up to this extent and this magnitude, nobody, not Danske Bank customers nor anybody else would need to do this. Last not least: I tried to get in touch with my advisor on this topic. But he is incapable of getting back to me.
31 July 2019
Unprompted review