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Identity Verification

Dear Customer,

This document is addressed to all existing customers of the Bank and any client who has performed even one transaction in the Bank. Our aim is to inform that you are obliged to provide the Bank with sufficient information for your personal identification.

1. Why should I give the bank detailed personal information?

In Albania, Law no. 8610, dated 17.05.2000 “On Compliance and Anti-money Laundering”, amended with Law no. 9084, dated 19.06.2003 “On some changes to Law no. 8610, dated 17.05.2000, “On Compliance and Anti-money Laundering”,” and proposals of the Bank of Albania considering compliance and anti-money laundering and financing terrorism, also protecting legal interests and guaranteeing financial transactions of all individuals who collaborate with the Bank, prohibits the Bank from making any transaction without verifying and confirming the identity of individuals involved in the transaction. These laws align with those elsewhere in Europe and across the world. The Bank of Albania requires and makes it mandatory for all banks to require from the client legal documents, identification documents, transaction documents, etc., and to keep such information on file.

For this reason, when detailed information is required by the Bank to fulfill any transaction, you are obliged to know that this is required by the law, and that the Bank is only following the law and cannot act differently.

2. How does the Bank use the information and personal data that I provide?

Law No. 9662, dated 18.12.2006 “On Banks of the Republic of Albania”, on customer protection from processing personal data and information given to the banks, requires full security of such information as provided in the law and the use of such information exclusively for the main purpose. Any contravention of this law by banks and financial institutions is subject to severe punishment and large penalties.

Also, you should know that the country’s financial institutions comply with the Bankers Ethical Code of the Albanian Banks Association, when collecting and saving customer information, complying with bank confidentiality and personal confidentiality.

3. What identification data are required and how will they be verified?

If you wish to open a savings account, rent a safe box, take out a loan or undertake any other banking transaction, such as sending or receiving money, the information required by the law—if you are the primary or secondary beneficiary, primary debtor or guarantor—and the respective documents required to be verified for the given information are listed below.

Required Information

Verifying personal data documents required (by case):

Means of identification:

Identity card
Valid passport
Birth certificate.

Current residential address:

Phone, electricity or water supply bill (from the last three months)
Notarized rent contract (if relevant)
Living place verification issued by Civil Registry Office.

Current employment, and work address:

Social Insurance Book
Professional license (if you have one)
Verification from employer.
You will be asked to show an original version of the required documents, and the Bank will keep a copy.

The information required by the Bank will vary according to the type of transaction and the amount. Sometimes, further information will be required, including evidence of incomes, invoices, insurance policy, property papers, rent or purchasing contracts, or other documents necessary for the transaction.

If you complete an action on behalf of another person or company, you should have your personal identification document with you, along with other evidence of the physical person or the company on whose behalf you are completing an action. Banks are obliged under the law to require and verify such information.

We thank you for your understanding and your time spent reading this document.