First of all, we want you to know that updating data is a legal obligation that all banks in Romania must fulfil.

But exactly what data are we checking?

• identification data - name, date of birth, CNP in the case of individuals, and unique registration code, registered office in the case of a company.
• contact details: address, e-mail, telephone.
• more specific information: general source of funds/income, employer, occupation, legal representatives, beneficial owners of the legal entity or whether or not the account holder is a publicly exposed person.

We want you to be 100% sure that we are not checking your data for commercial purposes. Furthermore, we do not process your data, except under the terms of the law or your express consent to the processing of your data.

The only reason we want to update our customers' data is to comply with the legal framework and for the safety of transactions and the entire financial system.

I also put a article on the BT blog about it and we invite you to read it! 😃