How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Ash Your Own Question
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
Type Your Law Question Here...
Ash is online now

My bank has started to ask some very intrusive questions regarding

This answer was rated:

My bank has started to ask some very intrusive questions regarding my business, like who my main suppliers are, where I advertise, who my customers are etc?
Many answers are commercially confidential.
Is the bank entitled to such information, and if so, is it reasonable for me to ask the bank and the bank employee to sign a confidentiality agreement with regards ***** ***** answering their questions and to what purpose they will use the data?
Alex Watts : Hello my name is ***** ***** I will help you with this.
Alex Watts : For now please let me know whether you have any borrowings with the banks?

Yes, I do

Alex Watts : Is the bank entitled to ask - yes they are. It is a matter or risk for the bank.
Alex Watts : So if you are trading with risky suppliers or customers it increases their risk.
Alex Watts : Are you entitled to ask them to sign a confidentiality agreement - yes
Alex Watts : But bear in mind there are laws that prevent them disclosing or sharing the data anyway, so it may not do you any good., beyond what legally you have.
Alex Watts : But you can ask.
Alex Watts : Can I clarify anything for you about this today please

Thank you

Ash and other Law Specialists are ready to help you