Know your customer

KYC is a worldwide policy to protect all our customers from financial crime.
Recently you may have read about KYC – or Know Your Customer. You may have received an email from Crédit Agricole Britline – or read about it online. This article will tell you more about why we are doing this.


Why are banks contacting their customers?

Firstly, it is important to say that KYC involves all banks internationally. Banks must demonstrate to their regulators that they understand their customers well. The policies which are part of KYC help to prevent identity theft, combat money laundering and to counter the financing of terrorism amongst other crimes.

This means we need to check that our customers are genuinely who they claim to be and that transactions going through the account are consistent with our knowledge of their financial situation.

Of course, there are other advantages from having a good understanding of our customers. By keeping in touch, we can ensure that any service or products we offer you are relevant to you.

What information will we ask you to provide?

The information we need may vary depending upon whether you have a personal or a business account. It helps us to verify your identity and who you are.

For personal customers: information such as your job, your income and property or other assets.

For businesses: details of the sector of activity, turnover and company structure etc.

Can you refuse to provide this information?

Yes you can. However, we strongly advise against this. This is because of the current banking regulations, without this information it may restrict the services we are able to offer you, and potentially we may need to close your account.

It is important to remember that banks are legally responsible to carry out a KYC policy.

What are the other benefits of KYC – for the customer?

By knowing our customers better, we can manage their risks better (e.g., for an insurance policy or a savings plan) – providing a better and more efficient banking service.

What are the documents we will ask you for?

Crédit Agricole Britline will need you to provide:

  • Proof of ID (for example, your Passport or National ID Card) with a photograph
  • Proof of Address (such as a utility bill)

We may also ask for Proof of Income in certain circumstances.

How often will we ask you for this information?

From time-to-time we will contact you to update the information we hold. After all, our personal circumstances and financial needs all change periodically.

Know Your Customer. Helping us to get to know you better, protect you and provide a better service.