Before you can open an account with Kiwibank, we'll need to verify your identity, address and in some cases your source of wealth or funds. We'll also ask for your overseas tax residency status, IRD number and Resident Withholding Tax rate.
We’re required by law to check your identification (ID) and proof of address at certain times, including when you open an account with Kiwibank as a new or existing customer.* In all cases, we'll need to keep a copy of your ID, proof of address and any other supporting documents used to open an account.
*This process is called Customer Due Diligence and is required under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009. We need to check your ID and proof of address in order to verify your full name, date of birth and address.
**This information is required under the Tax Administration Act 1994. As a New Zealand financial institution, Kiwibank must identify accounts held by customers who are foreign tax residents or entities connected to foreign tax residents, and must report prescribed identity and financial information about these accounts to Inland Revenue annually.