Know your customer – why does the bank ask?

Banking is based on trust. The ingredients of trust are good service, the right solutions and the fact that the bank knows its customers. We ask you questions on different matters because we want to know you and your life situation. When we know you, we will be able to give you good advice and offer you banking services suiting your needs.

However, some of the questions are based on other reasons. Nordea is one of Europe's largest banks and we want to be socially responsible. The banks are subject to many laws including ones that seek to prevent, for example, money laundering, terrorism and white-collar crime.

The bank may also use, as applicable, the information provided by you in connection with the banking services for which we as a bank are obliged to obtain certain information about you, for example, to assess the suitability of an investment product or service for you. Then we will not have to ask you the same questions many times.

We ask you questions when you become our customer and also after that when you visit our branches or do your banking via Netbank or over the phone with Nordea Customer Service 0200 70 000 or Nordea Business Centre 0200 26262.

Be alert when online

Make sure that the device you are using is protected, the antivirus software is updated and the firewall is in operation. Be alert when you are online and do not open e-mails or links from unknown sources. Keep and use your access codes carefully and do not let other people use your accounts.

More information

Federation of Finnish Financial services (pdf)Opens new window

Financial Supervisory AuthorityOpens new window

What kind of questions do we ask?

What kind of questions do we ask?

Banks have a statutory obligation to identify and know their customers. In addition to the personal details, the bank must have sufficient information on the customer's business, financial position and origin of funds. By giving us the information we request, you support our work against crime and bear your share of social responsibility. All information you give us is treated confidentially in accordance with the regulations on bank secrecy.

For example, we may ask you about the origin and purpose of the funds paid to your account, or why you want to use our services. When we are investigating the origin of the funds paid to your account, we may need deeds of sale or other documents in addition to a written statement.

We must also find out if you are a politically exposed person (PEP) or if you are a family member or close business partner of a PEP. This does not mean that we are asking your political opinions.

We use various channels to acquire customer information 

We ask for information about our customers and their banking through a number of different channels. We will approach some of our customers by letter or phone, and some will receive a questionnaire in Netbank, Mobile Bank or at nordea.fi/ta.  

Filling in the questionnaire in Netbank and Mobile Bank is secure, as it is done after identification. You can verify the security of the website and the SSL encryption in Netbank by clicking the padlock icon in the address bar at the top or bottom of the screen.

We will verify both the personal data and the information related to banking. The questions will concern, among other things, the recipient's citizenship, country of birth, country of taxation and the origin of funds received at Nordea. The questions are the same as the ones asked at customer meetings in branches.

We would like to remind you once more that Nordea will never request your personal Netbank access codes, card information or personal identity number by e-mail or over the phone.  

The bank is obliged to verify the customer's identity from an official and undamaged identity document. This obligation concerns both existing and new customers.

Read more: Identity documents accepted in Nordea

Questions and answers