Why do my details need to be verified when I sign up?

Last updated on

As a financial institution, Verve Money has obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act (2006) (AML/CTF Act 2006). This means we need to confirm that you are who you say you are by verifying your details with ID such as your driver’s licence or passport. In most instances, this is a digital process initiated through the Verve Money App. Any information you provide through this process will be handled with care and in line with our obligations under the Privacy Act 1998.