KYC
Published 5 November 2026, 22:39
KYC is the bank's check on a customer and their details. In practice you will be asked for your passport, NIF, proof of address and sometimes documents showing your income or where your money comes from. The bank needs this to understand who is opening the account and how the money will be used.
Where you come across it. At the bank when opening an account, updating your customer details or making a large transfer.
Often confused with AML: KYC is the check on the customer, while AML is the wider set of rules against money laundering.