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I am from India. I have 4.6 years experience. Recently I have resigned from the startup company and got selected in a big reputed company but during my background verification my application got rejected due to bank statement.

I have bank statement only for 4th year since my remaining three years I have been given cash by hand. I have submitted my service letter, relieving letter of startup company but they need bank statement for whole 4.6 years. I have explained my situation to HR but the company don't entertain cash people.

As per the office rules, if the salary is above 20k they will be allotted a salary account. Until 3 years I have salary below 20k, so I didn't have bank statement.

My query is does all reputed companies ask for whole years of experience bank statements? What is the alternative for the people like me?

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    I'm assuming as there's mention of a relieving letter this is in India? Most countries wouldn't care or have the right to ask to view your bank statements (apart from certain positions) Commented Jun 17, 2015 at 12:43
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    Can you ask your former company to certify that they paid you at the rate they paid, in lieu of a bank statement? Commented Jun 17, 2015 at 12:47
  • @VietnhiPhuvan i have asked HR if it is ok with the cerification? but he said that it is mandatory to have bank statement from date of joining to date of relieving other wise Background verification not possible Commented Jun 17, 2015 at 13:17
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    Wow, this is the first time I am hearing this nonsense. This company clearly has its head in its ... uhm, behind. You provided the service letter, the relieving letter, that is enough to prove your experience and can be verified in the background check. What exactly to they gain by confirming that your previous company did pay you for 4 years? I would seriously recommend you consider if you really want to work there. Who knows what other nonsense you have to put with? (And yeah, before people start reminding me how hiring practices are different in India, and all that cr*p -- I am from India).
    – Masked Man
    Commented Jun 17, 2015 at 16:56

2 Answers 2

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As pointed out by Myles, this practice is by no means universal. At least in most developed countries in the "Western hemisphere", respect for personal privacy has some importance, and personal finances are generally considered, well, personal - so usually your employer may only ask about financial circumstances to the extent that it is relevant for the job. Asking to see complete bank statements for several years goes way beyond that.

That said, if your prospective employer insists, your options are limited.

You can explain your situation, and ask what they want to see in the bank statements, and whether you can provide the information in a different form.

However, it sounds like you have already done that. If they are unwilling to budge, there's probably nothing more you can do, apart from finding a different job.

You could try to find out if asking for this kind of information is even legal in your country - but it's not clear that would help you, as you probably do not want to sue your employer.

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I can definitely say not all reputable companies throughout the world will do this. Whether this is permissable at all will be region specific. I can't imagine a Canadian employer asking for bank records but when I lived in Korea it wouldn't have seemed all that strange to me.

Edit: Based on OP edit we are specifically discussing India. Masked Man confirmed in comments that from his experience this is not common hiring practice in India.

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    This seems more like speculation on how Indian hiring practices work rather than actual knowledge of them (?).
    – enderland
    Commented Jun 17, 2015 at 14:17
  • @enderland First paragraph of the answer is definitive, second paragraph is entirely conjecture as we don't even know where the OP is located. Would the answer be better without the second paragraph?
    – Myles
    Commented Jun 17, 2015 at 14:22
  • @Myles: After your comment, the OP updated the question to say he's from India. Commented Jun 17, 2015 at 15:36
  • There are a few situations where verifying financial stability is warranted. In jobs where you will have access to financial transactions or information, companies can be concerned about potential embezzlement, and in jobs where you have access to sensitive information, companies can be concerned that you could be tempted to sell information for the right price. Cash paid candidates are at a disadvantage because there's no way to verify where their previous income came from.
    – ColleenV
    Commented Jun 18, 2015 at 13:29

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