Know your customer
What is KYC?
All banks and financial institutions are required by law to have good knowledge about you as a customer and how you intend to use our products. This is known as KYC – Know Your Customer. Having good knowledge about you as our customer makes it easier for us to protect you from potentially exposure to criminal actions such as money laundering or misuse of your accounts.
Why is this relevant for you as a customer at Entercard?
Entercard is required by law to follow the requirements in the KYC regulations. This means that we need to have good knowledge about you as our customer, and how you intend to use our products and services. To completely understand this, we might have to ask you some questions, such as:
- The purpose of transfers/transactions and the origin of the means.
- The purpose of your loan
- Your current address
- Information about your economic situation
- If you are planning to use your card abroad. Where/why/for how long?
- If you are planning to transfer money abroad
- Country of tax residency
- If you are a Political Exposed Person
- Crypto Currency
What are the information in the KYC form used for?
We use this information to secure we have correct and updated information about you. With updated information about you, we can better protect you and your identity, and at the same time contribute to counteracting economic crime in the Norwegian society. Your answers are an important contribute in this important work. Entercard treat this information as confidentially.
What happens if you do not answer?
If you chose not to answer our questions, we might have to temporary block your card or even end your customer relationship with us. This due to the fact that we do not have sufficient knowledge about you and your intended use of our products.
Entercard has the right to collect this information, to identify you as our customer and to have updated knowledge about you. It is therefore very important that you answer all of our questions. They are necessary for us to be able to protect you, and have met our requirements in the regulations.