Remittance Guidelines
In order to comply with the relevant Anti-Money Laundering regulations, customers would have to provide proof of identify and address. This requirement is fulfilled with the Know your Customer application within the Remittance application.
Thresholds for Due Diligence
One of Transaction Thresholds [Current Thresholds]
Proof of address for EU Residents
Letter from Local Council, Pensioner's Letter, Pay Slip, Letter from Government Agency
Proof of address for UK Residents
Driving Licence, Council Tax Letter, Utility Bill (gas, electricity or water), TV Licence, Landline Telephone Bill, Bank Statement, Bank Letter
| Both Cash and Bank Transaction | |
|---|---|
| Thresholds in GBP | ID Requirements |
| Up to 700 pound | No ID required but Basic information |
| 700 to 2500 pound | 1 ID |
| 2501 to 5000 pound | 2 ID |
| 5001 to 10000 pound | 2 ID and Source of Fund and Purpose of Use + Declaration Form |
| 10000 pound + | 2 ID and Source of Fund and Purpose of Use + Declaration Form + EDD |
Reliable and Rapid Remittance
These information shall be obtained only once, and will remain valid until the expiry date shown on the document. If the document does not have any expiry date shown, usually the validity of such document is 90 days from the date of issue (unless otherwise stated). Therefore our Customer Service Advisor's may request updated copies of your documents from time to time. Our Customer Service Advisors may also require obtaining other documents to verify your source of income or the source of fund of your transactions. This will depend on the frequency and/or amount of your transactions. If you are asked to produce such documents but would rather discuss this in person, please contact our branch representative either within your local branch or please call our Customer Service Team.