Identification & proof of address.
There may be times when Westpac needs information from you to confirm your identity and address. We need this information to help keep you secure and comply with New Zealand law. We’ve listed some approved forms of identification and proof of address below.
Why do I need to provide this information?
At Westpac, we’re committed to preventing our services and systems from being misused for criminal activities. In order to comply with the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 ("the AML/CFT Act"), we need to verify your identity and address. We may also request documents from you to verify your source of wealth and funds.
How does the Act affect me?
The AML/CFT Act requires us to collect information from you and anyone who is acting on your behalf. For example, you will 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.
We may also be required to obtain documents from you on the source of your wealth and funds. This can be in the form of payslips, bank statements confirming income or financial statements.
Examples of when this information will be required include:
- When you decide to bank with us
- When you open a new account
- When your personal details change e.g. you change your name
- When there is a change to your banking relationship with us e.g. you start a business
- When you wish to send a telegraphic transfer over NZD$1,000 or make a large cash transaction (withdrawal or deposit)
- When you come into the branch to complete an over-the-counter transaction.
To find out more about acceptable forms of identification, proof of address and source of funds call us on 0800 400 600 or visit us in branch.
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, power of attorney or performs certain tasks on behalf of the entity.
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, treasurer of a club or society.
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.