Bendigo and Adelaide Bank Limited and its related entities are required by the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 to verify your identity before we can provide you with financial products and services. Electronic verification allows us to verify your identity by using electronic tools and external data sources.
How electronic verification works
In order to verify your identity electronically, we will ask you for your details (such as your name, address, date of birth) and details of your identification documents. This information will be passed on to external organisations in order to electronically match your information with information on their databases. These organisations will assess and advise us whether all or some of the information you provided matches their records. We have an arrangement with Veda Advantage Information Services and Solutions Limited who completes electronic verification on our behalf.
The external data sources used to verify your identity include:
- Credit information files held by Veda (this is only to confirm your identity and is not a credit check)
- The Australian Government Document Verification Service (DVS)
- Publicly available information such as the electoral roll and white pages.
It is an offence under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 to provide false and misleading information about your identity.
Who your information will be shared with
We will share your personal information with the following external organisations for the purposes of verifying your identity:
- Veda Advantage Information Services and Solutions Limited
- Commonwealth and State government departments (via the Document Verification Service)
These organisations may use your personal information and personal information of other individuals, such as names, addresses and dates of birth, for the purposes of preparing their assessments.
Other methods of verification
You do not have to agree to electronic verification. Instead you can choose to visit one of our branches so we can verify your identity in person. We will advise you if we are unable to verify your identity electronically.
By agreeing to these terms and conditions you agree that:
- The information you are providing is your personal information and you have authority to provide it to us, and
- We may use and disclose your personal information for the purposes of electronic verification as described above.