Since Wednesday 25 September 2019 we have been reaching out to select Ezidebit New Zealand customers to advise that their accounts needed to be re-verified.
Due to recent changes to anti-money laundering and customer due diligence obligations, the verification requirements for all Ezidebit customers has changed.
We have included some FAQs below to help you with the process.
Click on the questions below to be taken directly to the information.
Who in my business needs to have their Identification verified?
‘Limited Company’: All directors, and any shareholders or shareholding entity that own more than 25% of your company.
‘Sole Trader’: Only the owner of the business needs to have their identity verified
‘Trust’: All Trustees need to have their identity verified. We will also require a copy of the Trust Deed.
‘Partnership’: Both partners will need to be verified. If your partnership is between two companies, we will need to verify the identity of the majority Shareholders of both companies (holding more than 25% shares)
‘Association’ (also known as an Incorporated Society): The Chairperson, Treasurer, and Secretary need to have their identity verified. A copy of the association’s meeting minutes (AGM minutes) will also be required to confirm who holds these roles.
What do I need to do?
From Tuesday 8 October 2019:
- For New Zealand residents: you can verify your identity online via the unique link that was sent to your email. Please ensure you have your identification and current residential address on hand. Note: If you have any issues with the ID verification process, please upload certified copies of your documents to the portal.
- For non-New Zealand residents or those who are unable to verify their identity online: you can verify your identity by uploading certified copies of your identification documents to Ezidebit through the secure online portal. To prepare for this, please arrange the following for all Directors, and beneficial owners (holding 25% or more shares) of your business:
Proof of Residential Address | Utility bill, rates notice, or lease agreement
- Identification | Passport; or Driver’s licence + secondary ID (such as a redacted bank card, or bank statement^)
How do I certify my documents?
Please follow these guidelines1 to certify your documents.
- Include the name and signature of the trusted referee
- Include the date of certification
- Have been carried out in the 3 months preceding the presentation of the copied documents
The Trusted Referee must:
On a copy of your drivers licence (front and back) or passport
- Be at least 16 years of age
- Sight the original documentary identification
- Make a statement to the effect that the documents provided are a true copy and represent the identity of the named individual (true likeness where photo ID is used)
- Specify their capacity to act as a trusted referee from the approved trusted referee list below
Trusted referees must not be:
- Your spouse or partner
- Related to you or living at the same address as you
- A person involved in the transaction or business requiring this certification. (For example, if you visit your solicitor to set up a trust or register a mortgage you cannot use that same solicitor to certify your ID & proof of address documents. Another solicitor at the firm could be used as your trusted referee).
Approved trusted referees include the following:
- Member of the police
- Justice of the peace
- Registered medical doctor
- Kaumātua (as verified through a reputable source)
- Registered teacher
- Minister of religion
- Lawyer (as defined in the Lawyers and Conveyancers Act 2006)
- Notary public
- New Zealand Honorary Consul
- Member of Parliament
- Chartered accountant (within the meaning of section 19 of the New Zealand Institute of Chartered Accountants Act 1996)
- A person who has the legal authority to take statutory declarations or the equivalent in New Zealand
- Commonwealth representative (as defined in the Oaths and Declarations Act 1957)
When will I get access to verify my identity online?
On Tuesday 8 October 2019 you were sent an email with a unique link to access secure online portal where you can complete your online verification.
What happens if I do not verify my account?
Unfortunately, if the documents are not provided by 25 October, or you do not complete electronic ID verification, we will be required to suspend credit card processing through your Ezidebit account until your account meets compliance requirements. If that was the case, Ezidebit would only be able to collect bank account debits on behalf of your customers.
One of the shareholders is unavailable. What can be done to bypass this requirement?
We require all directors and shareholders who hold a majority share in the business, to be verified, even if they are overseas. Identity verification is a common process worldwide for all financial service providers and we are here to help with any questions the directors and shareholders may have.
My identification was provided when the account was opened, why am I required to provide further information, or the same identification again?
We have updated our verification process for all New Zealand merchants and must ensure all details on file meet current standards. This means that while we may have certain documents on file for you already, we need to receive updated details and documents that have been verified.
All financial service providers are required to periodically update Know Your Customer (KYC) details held on file. Periodic updates to records also helps prevent fraud in customer accounts.
The name on my ID is different to what it is showing on the Company Register, what can I do?
You will need to provide a certified copy of your marriage certificate, or change of name certificate that confirms your name change.
Alternatively, if your details on the Company Register are incorrect, these will need to be updated to reflect your correct information.
The information you have regarding my entity is outdated, how do I update your records?
Where any data has been prepopulated for you, this has been obtained from New Zealand Companies Office. If the data we have requested is outdated, you will need to log in to Companies Office and update the relevant details associated with your entity.
I want to update other details on my Ezidebit account, can you help me do that?
Please reach out to our Support Team by phoning 0800 478 483 or emailing email@example.com and we can update your details on file.
Do you have a branch in New Zealand where I can drop off my documents?
Documents will need to be received electronically, via the secure portal or an email to Ezidebit.
How will you communicate with me?
We will reach out to you via email and by phoning you. If you aren’t sure that we have your correct information please reach out to our Support Team and we can update your details on file.
What do you do with my details?
What is KYC?
KYC stands for Know Your Customer. All financial institutions are required to verify individuals associated with an entity that is applying or has applied for a financial product.
What is AML / CFT?
This stands for Anti-Money Laundering and Countering Financing of Terrorism. It is a regulatory requirement to ensure that financial service providers complete checks and verification of the identity of individuals using their services.
More information can be found here https://www.dia.govt.nz/AML-CFT-Overview.
Who can I talk to if I have more questions?
Our Support Team is available to assist you if you have any questions. You can contact them by phoning 0800 478 483 or emailing firstname.lastname@example.org. Please note that there may be extended wait times and we appreciate your patience.
- Fma.govt.nz. (2019). Amended Identity Verification Code of Practice 2013 [online] Available at: https://www.fma.govt.nz/assets/Reports/_versions/3305/110901-identity-verification-code-of-practice-aml-cft-2011.2.pdf [Accessed 24 Sep. 2019].