Anti-Money Laundering and Countering Financing of Terrorism

Westpac Banner AML

All banks and most financial institutions across New Zealand need to make sure that they comply with the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (“Act”).

What's Westpac doing?

At Westpac, we’re taking this law very seriously and are committed to preventing our services and systems from being misused for criminal activities.

Here's some information about the Act and how it could affect you:

How does the Act affect me?

The Act means we need to collect extra information from you and anyone who is acting on your behalf. For example, you may need to show us identity documents such as your passport, birth certificate or driver’s licence, as well as a document that confirms your address (e.g. a utility bill, insurance bill or bank statement).

Examples where this information will be required include:

  • You open a new account
  • Your personal details change – e.g. you change your name
  • There's a change to your banking relationship with us – e.g. you start trading as a business
  • You wish to send a telegraphic transfer over NZD$1,000 or make a large cash transaction.

To find out more about acceptable forms of identification and proof of address call us toll free on 0800 400 600.

How does the Act affect businesses, trusts and other types of organisations?

Businesses, trusts and other types of organisations need to provide specific information about themselves and anyone who is acting on their behalf (e.g. anyone who has signing authority or power of attorney).

We also need to collect information about anyone who:

  • Owns more than 25% of the organisation; and / or
  • Has a high degree of influence or authority over the organisation’s operations (e.g. managing director, chief executive, chief financial officer, trustees).

Important note:

It’s essential that Westpac complies with the Act. Sometimes this may mean that we won’t be able to complete your transaction or meet your needs until all of the necessary information is provided. There may also be restrictions to the value of transactions that can be processed for people who do not hold a Westpac bank account.

Protecting your privacy

We’re committed to protecting the privacy of our customers’ information. All identity and other personal information you provide will be used and managed in line with the Privacy Act 1993.

Want to know more?

You can get more information about the Act and how it may affect you:

– at your local Westpac branch;

– talk with your Westpac account or relationship manager; or

– on the Ministry of Justice’s website www.justice.govt.nz/policy/criminal-justice/aml-cft

ID for individuals

Option A

You must provide one form of primary photographic (photo) identification document (ID) (extra documentation may be required) this can be:

  • NZ passport - can be current or expired within the last 2 years, but cannot be cancelled, defaced or mutilated.
  • Overseas passport - can be current or expired within the last 2 years, but cannot be cancelled, defaced or mutilated (or similar document issued for the purpose of international travel containing the name, date of birth and signature of the person, and issued by a foreign government, the United Nations, or agency of the United Nations).
  • NZ Certificate of Identity
  • NZ Refugee Travel Document
  • National Identity Card (overseas)
  • NZ Emergency Travel Document
  • NZ Drivers Licence 
  • NZ Firearms Licence

Option B

You must provide one form of primary non-photo ID AND one form of supporting photo ID. These can be:

Primary non-photo ID
  • Birth Certificate (NZ or overseas)
  • Citizenship certificate (NZ or overseas)
AND
Supporting photo ID
  • HANZ 18+ Card
  • NZ Educational Institute issued card
ID for minors

Option A

You must provide one form of primary photographic (photo) identification document (ID) for the young person AND one form of Parent/Guardian/other family member ID (see below, extra documentation may be required). For the minor, this can be:

  • NZ passport - can be current or expired within the last 2 years, but cannot be cancelled, defaced or mutilated.
  • Overseas passport -must be current  (or similar document issued for the purpose of international travel containing the name, date of birth and signature of the person, and issued by a foreign government, the United Nations, or agency of the United Nations).
  • NZ Certificate of Identity
  • NZ Refugee Travel Document
  • National Identity Card (overseas)
  • NZ Emergency Travel Document
  • NZ Drivers Licence 

Option B

You must provide one form of secondary ID for the young person AND one form of Parent/Guardian/other family member ID (see below, extra documentation may be required). For the minor, this can be:

Secondary ID
  • Birth Certificate (NZ or overseas)
  • Citizenship certificate (NZ or overseas)
  • NZ Educational Institute issued card
AND
Parent, Guardian or other family member ID
  • NZ passport of parent or guardian of the minor - can be current or expired within the last 2 years, but cannot be cancelled, defaced or mutilated
  • Overseas passport (must be current) of parent or guardian of the minor, with details of the minor listed on the passport
  • NZ Drivers Licence of parent (with electronic verification)
Proof of address

Verification sources for proof of residential address

You must provide evidence of your current residential address dated within the last 6 months, for example:

  • Recent utility bill 
  • Statement/Correspondence from another financial institution 
  • Property Sale & Purchase Agreement 
  • Insurance policy document 
  • Correspondence from a Government Agency which contains name, address, and an unique reference (such as IRD number, Client File Number or Tenancy Bond reference number) 
  • Unexpired rental or tenancy agreement 
Trusted Referees

Westpac relies on its bank staff for collecting customers’ identity verification documentation and confirming that the original documentation has been sighted. 

However, if a customer is unable to go into a Westpac branch with their original Identification document, then a certified copy of the original document can be accepted for the purpose of verification.

 A certified copy of an original document means a document certified as a true and correct copy by a Trusted Referee.

Who is a trusted referee

Download the List of Trusted Referees who are approved certifiers for documents (PDF).

A trusted referee must:

  • Be over the age of 16 years old;
  • Not be:

-  related to the person identified in the document or the person presenting the document (for example a trusted referee cannot be their parent, child, brother, sister, aunt, uncle or cousin); or

-  a spouse or partner of the person identified in the document or the person presenting the document; or

-  a person who lives at the same address as the person identified in the document or the person presenting the document;

- a person involved in the transaction or business requiring the certification.

Certified Copies

Certification must have been carried out in the three months preceding the presentation of the copied documents

  • The trusted referee must sight the original identity verification, address verification, and/or source of wealth or funds documentation, and make a statement to the effect that the document provided is a true copy and represents the identity, address, and/or source of wealth or funds of the named individual
  • In relation to photographic identity verification documentation, the trusted referee must also make a statement to the effect that, in their opinion, the identity verification document represents a reasonable likeness of the named individual.

  • The trusted referee must also include in the certification their own:

-  full name;

- signature;

-  occupation and confirmation of their capacity to act as a trusted referee (from one of the categories listed in  the “NZ trusted referees” or “Offshore trusted referees” tables attached below);;

-  date of certification and signature;

-  registration number (or equivalent) and registering body (e.g. New Zealand Law Society); and

-  contact phone number.

If the trusted referee has a stamp or seal, they can apply that – for example, notaries public usually have seals which they apply to documents signed.