Do you need to provide customer information?
Ahead of employing our services, you have probably been asked to disclose customer information. We ask this as part of our compliance to Know Your Customer (KYC) standards. You can provide your KYC information via the link below. To provide the information you need to be able to identify yourself, so make sure you have your BankID ready.
Why do we ask questions?
Does it seem odd that we ask what you earn, where your money comes from, or if you are active politically? The reason for this is something called the Money Laundering Act. As a bank, we are legally obligated to assess the risks of our operations being exposed to money laundering, or the financing of terrorism. So to abide by the law, we need to get to know you as a customer, the origin of your money and why certain transactions have been made.
How does it affect you as a private customer?
For existing or potential customers, there are no added obligations – though at times we may have to ask you a few additional questions. We have to verify your identity in various situations (if, for instance, you want a credit card). And when you deposit money with us, we may inquire about the source of your funds. In some cases, we may also need to see agreements, invoices, or other documents that confirm your explanation. Your personal information is confidential and our non-disclosure policy applies without exception.
When are we prevented from providing a service?
There are times when the law prevents us from carrying out a request. This includes an inability to present a valid ID, or offer an acceptable explanation as to why you want us to provide a given service. If we do not comply with the law, both the individual employee assisting in the matter and the bank could be penalized by the Financial Supervisory Authority.
Need more information?
The Financial Supervisory Authority and the Banking Association provide comprehensive information on the relevant laws and regulations on their websites.
Read a summary of Ziklo Bank's measures against money laundering and the financing of terrorism.