What data does the bank check and need to be updated?

First of all, we want you to know that updating data is a legal obligation that all banks in Romania must fulfill.

But more exactly, what data do we check?

• identification data - name, date of birth, CNP, for individuals, and unique registration code, headquarters, in the case of a company.
• contact details: address, e-mail, telephone.
• more specific information: general source of funds/income, employer, occupation, legal representatives, actual beneficiaries of the legal person or whether the account holder is or is not a politically exposed person.

We want you to be 100% sure that we do not check your data for commercial purposes. Furthermore, we do not process your data except under the law or with your explicit consent for data processing.

The only reason we want to update our customers' data is to comply with the legal framework and for the safety of transactions and the entire financial system.

I also put a article on the BT blog about this and we invite you to read it! 😃