Know Your Customer Form

What does Know Your Customer principle mean?

The laws of the Republic of Lithuania stipulate the obligation for all banks to follow the Know Your Customer principle in their activities and to regularly update information about the activities, sources of income and financial operations of their customers.

This information is necessary for banks in the prevention of money laundering and terrorist financing, as provided for in the Law on the Prevention of Money Laundering and Terrorist Financing of the Republic of Lithuania as well as other national and international legislation.

Why is it necessary to fill in the Know Your Customer Form?

Implementing the Know Your Customer principle helps prevent money laundering and terrorist financing, and protect customers from fraud.

All customers who use the bank’s services are asked to fill in the Know Your Customer Form. The form is issued to all customers at the beginning of the business relationship with the bank; later, customers are regularly asked to update the data. Customers are required to inform the bank about any changes to the information provided.

Implementing the Know Your Customer principle helps prevent money laundering and terrorist financing, and protect customers from fraud.

All customers who use the bank’s services are asked to fill in the Know Your Customer Form. The form is issued to all customers at the beginning of the business relationship with the bank; later, customers are regularly asked to update the data. Customers are required to inform the bank about any changes to the information provided.

How often do you need to fill in the form?

The bank asks to update the Know Your Customer Form periodically. It is usually enough to update the Know Your Customer Form once every 1–3 years (depending on the kind of your activity or whether you are a private/business client). In any event, the bank will personally inform you in advance of the upcoming time to update the Know Your Customer Form.

What happens if I fail to fill in the Know Your Customer Form in time?

If you fail to fill in and submit the Know Your Customer Form in time, we will not be able to provide some or all of our services to you. In such event, restrictions may apply to the use of a personal bank account, payment card(s), Internet bank, smart application, other services. You will be able to continue using the services after submitting a completed Know Your Customer Form.

Why are certain questions included in the form?

We are required by law and supervisory authorities to acquire sufficient knowledge of our customers to whom the bank provides financial and ancillary services. The Know Your Customer Form helps us to collect and, in the course of the business relationship, update information about the activities, sources of income, business partners and financial operations of our customers, thus preventing money laundering and terrorist financing.

Why can’t you update this information using other public sources (e.g., the State Tax Inspectorate, the Centre of Registers)?

We have an obligation to receive the information necessary for getting to know our clients directly from the clients. Information received from other authorities can only be used as an additional source to verify the information that you provided. Furthermore, the bank seeks to properly comply with the requirements of the General Data Protection Regulation concerning the privacy and adequate protection of personal data.

How do I fill in the Know Your Customer Form?

There are three ways to do this:

  • In the Internet bank (you will find the form once you log in to the Internet bank; you can also find it under Settings -> Know Your Customer Form).
  • Download the form, fill it in and send it through the Dokobit portal (www.dokobit.com) (the form must be signed electronically) (you will find the instructions here).
  • In the nearest customer service unit (make an appointment by phone 1813 or online and be sure to bring your identity document). For the list of customer service units, see the map.
How is the information stored?

The bank ensures that the information provided by the clients is stored in the same way as any other information that constitutes a bank secret. More information on how and what personal data we process can be found in the Personal Data Protection Rules of the Bank.