Why does NAB undertake Customer Due Diligence?
NAB aims to fight money laundering and terrorism financing, this is more than a regulatory commitment for us; it’s our Corporate Responsibility. Through our customer due diligence process, we’re doing more to help safeguard our community and protect those affected by financial crime.
How this impacts me?
If you’re a new customer, you may need to provide extra information to help us understand the purpose and intended nature of the how you hope to bank with us; this includes proving your identity and understanding where your funds and wealth come from.
If you’re an existing customer, periodically you will need to confirm that the information we hold about you is correct.
What will I need to provide?
NAB will ask you to provide the following information:
- Full name
- Residential address
- Occupation
If your legal name has changed, you will need to provide proof of change of name. Acceptable documents include:
- Birth Certificate
- Change of Name Certificate
- Marriage Certificate
Additional information that may be also required include understanding your:
Source of Wealth: the activities through which have created your personal wealth. For example, this could be via an inheritance, sale of property or an investment.
Source of Funds: the origin of the funds being invested, deposited or transferred, in particular where this relates to cash deposits or third-party deposits.
Need to update your information or like to know more?
Give our service team a call on 1300 051 075 (within Australia) or on +613 9208 2407 (from overseas) to answer your queries or concerns, or to help you with this process.
Please note: that NAB’s Customer Due Diligence team will never ask for your password or banking information.