Why does ING ask me for so much information and so many documents?

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! 

ING assures you that it is a secure and reliable bank and that its integrity and that of its customers are its top priority. All transactions identified as suspicious are automatically reported to the competent authorities. Our goal is to detect and prevent any involvement in criminal activities, including money laundering, identity theft and terrorist financing. Our bank, like other financial institutions, acts in this way to protect society and its customers in particular.

To conclude, please do not consider our regular requests for information to be inappropriate and unnecessary. On the contrary! By responding to our requests for updates in due time and by informing us without delay when your customer file is no longer up to date, following a change in your personal or professional circumstances for example, you help ensure transactions remain transparent and the financial system secure.

As for your personal data, you can rest assured! As part of the KYC process, we only request the information necessary to comply with regulations. We process these data in accordance with the General Data Protection Regulation (GDPR) and in such a way as to protect your privacy. These data are only accessible to persons who need to know them to perform their functions (compliance with the “need to know principle”). These people will mainly be those on the dedicated KYC team, and your relationship manager is informed when your contact details are shared with this team. Finally, your personal data collected in this context will not be used for purely commercial purposes, during marketing campaigns for example. For more information about how we process your personal data, we invite you to consult our Privacy Statement for customers.

05/2024