In a word, do not be startled if the bank asks you for all this information. It is not targeting you in particular and is not questioning your integrity. While requests for information may sometimes seem to be an annoyance, you must realise that the bank is merely complying with the law, rules and standards in force in Luxembourg. These stipulate in particular that banks must follow standard security procedures to ensure that they do business only with reliable individuals and companies.
This is why we at ING regularly carry out Customer Due Diligence (CDD) procedures. Before opening an account, the bank will ask you for information and documents such as your civil status, a copy of your identity card and your employment contract. If you open an account for your business, additional information will be required such as a copy of the company’s registration with the trade register and the names of the various shareholders.
This is why it is important that you allow for a certain period of time to enable us to process your application. In some cases, you may have to wait a long time for a response since reviewing each file requires that we be meticulous and precise so as to ensure that our checking procedures are compliant and secure.
Throughout your relationship with ING, you will be asked for this information on a regular basis in order to keep it up to date. If your personal circumstances change (change of address, civil status, employer, business, etc.), remember to inform the bank as soon as possible, either by visiting your branch, sending the bank a letter signed by you or using the secure messaging service on My ING. It will be much easier to contact you if your details are kept up to date, and the relationship with your bank will be much smoother. Also keep in mind that if you do not provide the necessary information in due time, we will have no choice but to block your account with all the inconvenience that this would entail!