Verify source of wealth & source of funds

When you join Kiwibank, we may need to confirm where your money, wealth and/or assets are from. This is part of how we meet our legal responsibilities and protect you and others.

Why we ask about your money

To meet our responsibilities under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009, we may need to understand how your money, wealth or assets were earned or acquired. We’ll guide you through what’s needed based on your situation.

Source of wealth

Your source of wealth refers to the assets you’ve built up over time such as earnings, savings, investments, property, or inheritance. By providing us the requested documents it will help us understand the size and nature of your overall wealth.

Source of funds

Your source of funds is more specific. It’s about where the money you’ll be using with Kiwibank comes from, such as your salary, business income or a recent asset sale.

Documents we may ask for

The documents we’ll ask for will depend on your situation. Below are examples that can help confirm your source of wealth and/or source of funds.

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Documents we may require

Personal income
  • Recent bank statements.
  • IRD documents e.g. most recent tax summary.
  • Current employment agreement.
  • Letter from Ministry of Social Development.

Government superannuation, pension or benefits
  • Recent bank statements.
  • Letter from the Ministry of Social Development.

Business income or drawings
  • Recent financial statements prepared by an accountant.

Property or land ownership
  • Sale and Purchase Agreement (signed by vendor and purchaser) with price and date of sale.
  • Property title from Land Information New Zealand.

Rental property income
  • Recent bank statements.
  • Current tenancy or lease agreement (signed and dated).
  • Recent statements from property management company.
  • Rental appraisal (if not yet rented) from within last three months.

Investments
  • Bank statements showing invested funds or investment income.
  • Dividend or interest statements from a broker or investment company.

Inheritance or gifts
  • Grant of probate and a copy of the will showing value of the estate and named beneficiaries.
  • Letter from a solicitor or accountant.
  • A letter from the donor or their solicitor confirming the gift and purpose, along with documentation evidencing the donor's source of wealth.
  • Documents that evidence the donors wealth and donor specific transaction.

Asset sales
  • Documents and agreements outlining the sale of the shares or asset and price received as well as bank statements showing where funds are currently sitting.