Proof of address, not proof of spending
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When a company asks for your bank statement as proof of address, all it needs is the top bit: your name and address.
Yet a Cape Town man trying to buy a car from We Buy Cars was told his statement would only be accepted if at least seven transactions were visible.
We Buy Cars says that's not company policy, and has corrected the branch.
By law, companies may only collect personal information that's relevant and not excessive for the purpose.
So, blank out your transactions or offer a municipal or cellphone account instead. And write "Copy for proof of address only", with the date, across it.
Yet a Cape Town man trying to buy a car from We Buy Cars was told his statement would only be accepted if at least seven transactions were visible.
We Buy Cars says that's not company policy, and has corrected the branch.
By law, companies may only collect personal information that's relevant and not excessive for the purpose.
So, blank out your transactions or offer a municipal or cellphone account instead. And write "Copy for proof of address only", with the date, across it.
