I recently renewed my passport and updated my APRC (first time with the new format). I was expecting to have to go to the bank and do a bunch of paperwork. I got an email from the bank saying they had gotten the updated ID info and if I need to do OTC withdrawals (do people do that anymore?) I would need to come in and update that pin. Anyway, I didn’t really believe everything else was set, so I went in today to inquire.
At first the bank employee starting pulling forms and copying everything as I expected, but as she started working with the computer her face contorted, confused by something. Off she went to speak to someone else and when she came back she said, its all done, nothing more to do.
Has anyone had any recent experience with this? Was it the same?
I was pleasantly surprised at first having expected to spend an hour there doing paperwork, but then as I continued to think on it, I wondered when I gave permission for NIA to provide my new personal information to the bank? I’m pretty sure I didn’t. What if I didn’t want this bank to have it? Did I have a choice? Of course I would have eventually given it anyway, but it is mildly concerning to me as someone who considers privacy issues carefully.
Would I be so lucky that my health insurance also got the same automatic update?
There’s not much banking privacy here, the banks can see all the other banks you have accounts with and same with the government, they are all connected. When I was opening a bank account the banker asked why I had so many accounts at other banks.
I think that was the plan from the beginning: The ID format would be changed and the banks etc. get the updated information automatically, so us foreigners don’t have any additional work.
Nice to hear that they finally got it to work that way after only three years
Probably not. Your new and old ID number are linked anyway - it’s not like the new ID number is meant as a privacy measure.
Yes, I understand that. I’m interested in the academic discussion around it. I realize most will be more interested in not having to go to the bank to do paperwork and even less interested my weird privacy hypotheticals.
I also received the message and it seems the updated info did indeed go through from the Government to the respective banks.
HOWEVER I have had to reapply for all my automatic credit card payments. Seems that the change in ID number - which the bank received from the Government - reset this service, don’t ask me how or why. I am slowly finding out as I get more “you haven’t paid last month’s bill, here’s another one” slips.
The info is sent to JCIC (Joint Credit Information Center). Most banks are members there.
The banks where the individual has accounts in are informed.
It is unclear which banks have automatic procedures to handle id number changes.
If I recall correctly, all banks authorised to operate domestically must join (including the branches of foreign banks and FIs).
I was reading and heard while discussing with some bank executives that a more advanced ID check and processing was in the works, eventually all banks will need to join, but it seems that some banks are more ahead in the implementation than others.
From the privacy point of view, FIs and government here have full visibility of your credit and banking situation, which is both good (very transparent and honest open system for authorised users) but also can pose some concerns (data breaches, improper use of data).
