To ensure compliance with applicable laws and regulations, Baplink is obligated to identify customers and verify that these details are correct and current. This process is commonly referred to as Know Your Customer (KYC), and you would have encountered this with other financial institutions.
What does it involve
The KYC process entails the collection and verification of customer information, as well as the ongoing maintenance of up-to-date records. Before we can offer account services, it is essential we thoroughly identify each customer. Additionally, customers may be periodically requested to provide updated information throughout their association with Baplink. We call this process reverification.
What does this mean for me?
In the very near future, the Baplink team will be contacting you to refresh your KYC information. Practically, what we are asking is for you to complete the ID form with your current ID details. This will be for all accountholders and signatories – no matter how long you’ve been with us. We will also be rolling out our electronic ID form during this process, as an alternative to the PDF’s.
We ask that you please follow the team’s requests to help protect our financial system from being misused and to stay up-to-date with our obligations.
We thank you in advance for your cooperation and understanding.