Why do I need to update my personal information?
Starting from mid-August 2022, we will contact our customers residing in Italy and holders of an N26 account with Italian Iban, with the aim of verifying and keeping their personal information up to date.
As a bank, we are required by law to keep our customers' personal information correct and up-to-date, with the aim of preventing the use of the financial system for the purposes of money laundering and terrorist financing.
This process involves the periodic verification and updating of personal data and the compilation of a due diligence questionnaire, which includes additional financial information about our customers.
What information do I need to update?
When you receive our communication regarding this, by logging in to your N26 app, you will be immediately directed to the process of updating your personal information.
Before proceeding, make sure you have updated the app to the latest version available. The operation can only be done through the app associated with your smartphone (it will not be displayed when you log in from the WebApp).
First of all, you will be asked to verify and confirm your personal data:
- Name and surname
- Place and date of birth
- Tax information
In the next step, you will then need to validate your legal address and your shipping address, if different.
As a last step, you will be asked to fill in the due diligence questionnaire, in order to ensure the integration and updating of relevant information required by banking legislation. This is a quick procedure, the operation will only take you a few minutes.
Remember, the update and the questionnaire must be completed even if your information has remained unchanged.
Please note that, in accordance with the legislation in force, the updating of your data and the questionnaire must be completed even if your information has remained unchanged.
What is the due diligence questionnaire?
The anti-money laundering legislation referred to in Legislative Decree 231/2007 requires the bank to regularly collect updated information on its customers, with the aim of preventing the use of the financial system for the purposes of money laundering and terrorist financing. and as a condition for maintaining relationships and transactions between customers and the bank.
For this reason, we will submit a short questionnaire, within your N26 app, where we will ask you to answer a series of questions regarding your net worth, your current employment, the origin of the funds in your account and the use you make of your N26 account.
We will check the data you have entered and, if necessary, we will contact you at a later time. For this, please make sure you have your app updated to the latest version available and always monitor incoming communications in the "Messages from N26" from the "Support" section of your app.
What happens if I don't complete the procedure as required?
We remind you that, from the moment you receive the first communication from us, you will have 30 days to complete the required steps.
We therefore suggest you to complete the transaction as soon as possible, so that you can continue to have full access to all the features of your N26 account.
In the event that the information is not updated within a reasonable period, N26 will be obliged to refrain from continuing the contractual relationship with the customer (Article 42 of Legislative Decree 231/2007).
After the first 30 days, you will still be able to complete the questionnaire, but we will be forced to temporarily limit certain features of your account (e.g. incoming payments, such as salary) until you have met this regulatory requirement.