Skip to content
English
Raise a support ticket Sign in
Back to the Yordex app
  • There are no suggestions because the search field is empty.

Yordex Compliance Requirements

By providing spend management services to our customers we are inherently involved in financial services. This means by law we are required t o meet compliance standards set by regulatory bodies.

 

Opening your Yordex Bank Account

In order to benefit  from our services we need to set  up your Yordex bank account . Through this you can effectively manage spend and distribute funds both internally and among your suppliers. However, similarly to setting up any personal bank account, we as a financial intermediary need to verify the account  against valid identification of persons of interest  within the company. By performing this verification we are adhering to the Anti-Money Laundering and Counter Terrorist Financing Regulation.  

Who do we need to verify?

Who we verify will depend on corporate structure and shareholders, but  this will usually 
be:

  • Any person/entity owning 25% or more of the company
  • One  Direct or responsible for day-t o-day operations of the company

What forms of Identification do we need?

To verify a persons identity we require two forms of identification:

  • Proof of ID: Valid passport  or drivers license  (please check t he expiry date)
  • Proof of  address: Official document  stating the current residential address of the individual e.g. utility  or current council t ax bill(less than 6 months old)

Please note that all documents are handled with complete confidentially and they are purely retained for legal compliance reasons.