Under FCA regulations each new private account we get asked to open needs to be validated.
In particular we would need to verify your identity and location before an account can be opened. For the majority of the time if you are based in the United Kingdom this isn’t an issue as we can confirm this from our backoffice background checks and you need do nothing more than complete the Stage 2 form online.
For other countries for example, the Republic of Ireland our back office verifications do not extend that far so we will normally request a scan of:
*One proof of photographic ID’s (driving license and passport)
*One proof of address less than 3 months old, examples are:
Bank statement(not credit card)
Utility bill (water, gas or electric only)
Council tax statement
Documents such as toll charges, mobile phone bills or credit card statements are not valid. Essentially, any type of proof where you do not have to be registered at the address to get post sent there wouldn’t be valid.
We go through this process to ensure we also meet our own compliance procedures as well as Knowing You as a Client.