Identification & address requirements.
At Westpac, we’re committed to preventing our services and systems from being misused for criminal activities. Like all financial institutions Westpac needs some information from you to confirm your identity and address. We need this to help keep you secure and comply with the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 ("Act"). To help with this we’ve listed some approved forms of identification and proof of address below.
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).
Things you should know.
The information above is subject to changes to government policy and law, and changes to the Anti-Money Laundering and Countering Financing of Terrorism Act from time to time. This information is a guide only and does not take into account your personal financial situation or goals.
References to non-Westpac websites are provided for your convenience only. Westpac accepts no responsibility for the availability or content of such websites.