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Update Your Information

Why are you conducting this account review?

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Rabobank has both internal requirements and obligations under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 to check in with its customers from time-to-time to ensure their information is accurate and up-to-date.

Are other banks doing this?

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Yes they are. The AML/CFT Act applies to all financial institutions, however they may have different methods of addressing these obligations. As a bank with a parent in Europe we also have to adhere to regulations in other jurisdictions. While Rabobank is providing clients with a digital online solution so that you can update your information, other banks may request this information when you visit a branch.

Do I need to include my house/property as Commercial Property?

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If this is the property in which you reside in or if it is used for family holidays or agricultural purposes, then you do not need to consider it as Commercial Property.

How long do I need to be in a country to consider it as a ‘country lived in, in the last three years’?

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If you have lived in a country for three months or more, within the last three years, you will need to consider it as a country that you have lived in.

What do you mean by ‘Country of Activities’?

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Any country that you have either personal or business dealings with which involve sending payments to or receiving payments from that country.

Can I complete this online?

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When you have logged into your account securely you will be presented with a pop up screen requesting additional information from you. The review can only be completed online through Internet Banking and not the mobile app. It is not compulsory to complete this immediately, you can skip it until a more convenient time. However, you are required to provide us the requested information. We will follow up with you by phone or email if this isn’t completed.

Why do I need to provide more information? I provided this information when I opened my account

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Your details and circumstances can change over time. To continue to protect you from fraud and other financial crime, and so that we can continue to comply with the AML/CFT Act, we need to ensure that the details we have about you are accurate and up-to-date on an ongoing basis.

What will happen if I don't provide the requested information?

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If you decide not to provide the information, Rabobank may not be able to continue to provide you the services relating to your account.

For more information related to this, click here and view section 16 of our Terms and Conditions.

Why are you asking me about Commercial Property?

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Rabobank New Zealand Limited is a subsidiary of Rabobank Nederland and is subject to supervision by the Dutch Central Bank in addition to local, New Zealand supervision. The Dutch Central Bank has issued a mandatory Policy Rule on integrity in investment property operations. This Policy Rule requires us to ascertain what, if any, commercial property holdings you may have and assess the integrity policy of your entity in relation to your activities in investment property.

Why do I need to provide updated information?

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The Anti-Money Laundering and Counter Financing of Terrorism Act 2009 AML/CFT (2009) requires Rabobank to regularly review our customer’s information to ensure that we hold up-to-date and accurate information.

For more information related to this, click here and view section 2 of our Terms and Conditions.