Identification and address requirements
Like all financial institutions Credit Union South requires some information from you about your identity and address. We need this to help keep your account secure and to comply with the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (“Act”).
What the Act means?
The Anti-Money Laundering and Countering Financing Terrorism Act 2009 (“the Act”) came int effect on 30 June 2013. All banks and financial institutions in New Zealand need to comply with this Act.
This information is a guide only and is subject to changes to the Act. It does not take into account your personal financial situation or goals.
At Credit Union South we take compliance with the Act very seriously and are committed to preventing the misuse of our banking systems and services. As a result the following information outlines the changes that have come into effect for all our members.
How the Act affects you?
The Act means we are required to collect certain information from you and anyone who is acting on your behalf. This means you will need to show us identity documents such as your passport, birth certificate or driver’s licence as well as another document confirming your address (i.e. a rates or electricity bill).
This will be a requirement for anyone wishing to:
- Open a new account
- Change their personal details
- Change their banking relationship with us
- Transfer funds overseas
Please don’t be offended
It is important to have photo ID in order to verify your identity and it is something we must do to comply with the Act.
While sometimes it may seem inconvenient, we appreciate your cooperation to help our team comply with the requirements. Sometimes this may mean we will be unable to complete your transaction until all of the necessary information is provided.
There may also be restrictions on the value of transactions that can be processed.
Even if you have had an account with us for a number of years, we may still ask for proof of your identity from time to time.
Below is a list that indicates the types of identification we need to establish to confirm your identity. (Please double check they are all original versions, not photocopies and, are current, not past the expiry date)
Acceptable Documentary Identification for members over 18 years
In order to conduct documentary verification of a member’s name and date of birth Credit Union South will use the following documents for combination of documents):
Primary Photographic: (please ask about other acceptable primary ID)
- New Zealand Passport
- New Zealand Firearms Licence
- New Zealand Full Birth Certificate
- New Zealand Certificate of Citizenship
- Birth Certificate issued by a foreign government, the United Nations or an agency of the United States
Note: The above Primary Non-Photographic identification documents must be accompanied by one of the following Secondary Photographic documents:
- New Zealand Driver Licence
- New Zealand 18+ Card
- International driving permit
*Other forms of identification may be acceptable, please ask your friendly Credit Union team.
Proof of address:
Be sure to bring in a copy of a recent account (phone, rates, power) or even a bank statement from a Registered Bank or letter from a Government Department, to confirm your residential address.
Identification for members under 18 years
If you are under the age of 18 and don’t have photo ID, we will need a full NZ Birth Certificate and Documentary Identification for one of the parents named, together with confirmation of the applicant’s residential address.
Protecting your privacy
At Credit Union South we are committed to protecting the privacy of our customers information. All identity and other personal details you provide will be used and managed in line with the Privacy Act 1993.