Transaction Reporting and Money Laundering Prevention
Account Opening Information

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Summary for Business
Summary for Individuals
Cash Dealer
Signatory, Individuals ID Details
Business ID Details
What the law requires
Discussion

Summary for Business & Individuals

Business

Please supply Company Information and documents for each signatory:

  • Company certificate of registration
  • Document showing company address (not a PO BOX)
  • Authority document for signtories
  • Each signtory to have 100 points

You can supply more documents to ensure you meet the minimum requirements

Verification Form (S21)

Individuals

Please supply 100 points of ID such as:

  • At least one photo ID
  • Document showing your address (not a PO BOX)
  • Document showing your full name
  • Document showing your date of birth
  • Other ID documents to make up 100 points.

You can supply more documents to ensure you meet the minimum requirements

Verification Form (S21)

Cash Dealer

Technocash is a gazetted Cash Dealer for purposes of the Financial Transaction Reports Act 1988 and provides designated services for purposes of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. As such the Company co-operates with various government authorities including the Australian Transaction Reports and Analysis Center (AUSTRAC). This ensures a stable and safe financial system for all.

ID Details

Signatory, Individuals ID Details

Identification requirements applying to all signatories

In repsect of yourself and any other signatory to an Account, we will need to see documentation demonstrating that you are the appropriate authorised person(s) - this includes the need to know your full name, date of birth and residential address.

As part of this all signatories need to provide us with copies of identification documents sufficient to satisfy a "100 point check".

A list of acceptable documents, and their point-value, can be found below. Documents provided should add up to at least 100 points, be of high quality and readable, include at least one photo ID and one proof of home address like a utility bill.

1. PRIMARY DOCUMENTS: 70 POINTS

  • Birth Certificate
  • Citizenship Certificate
  • International Travel Document:
    - a current passport
    - expired passport which has not been cancelled and was current within the preceding 2 years
    - other document of identity having the same characteristics as a passport
    (e.g. this may include some diplomatic documents and some documents issued to refugees)

2. SECONDARY DOCUMENTS containing photograph or signature: 40 POINTS

  • A driver's licence or permit
  • An identification card issued to you as a public employee
  • An identification card issued under government authority as evidence of your entitlement to a financial benefit
  • An identification card issued to you as a student at a tertiary education institution

3. SECONDARY DOCUMENTS showing your name and/or address: 25 POINTS

For example -

  • marriage certificate
  • credit card
  • council rates notices
  • utility (gas, water, electricity) statement/bill
  • telephone account/bill
  • government-issued health card
  • bank statement
  • rental agreement
  • other records of financial institutions
  • records of a primary, secondary, or tertiary educational institution attended by you in the past 10 years.

Please forward documents using the Verification Form (S21). As you send original documents we will co-ordinate any additional requirements to make it easy for you.


Business ID Details

Identification requirements for the Company

Technocash must know:

  • the full name of the company;
  • the country in which the company was formed, incorporated or registered;
  • whether the company is registered by the relevant foreign registration body and if so:
    - any identification number issued to the company by the relevant foreign registration body upon the company’s formation, incorporation or registration;
    - the full address of the company in its country of formation, incorporation or registration as registered by the relevant foreign registration body; and
    - whether it is registered as a private or public company or some other type of company by the relevant foreign registration body;
  • if the company is registered as a private company by the relevant foreign registration body - the name of each director of the company; and
  • if the company is not registered by the relevant foreign registration body, the full address of the principal place of business of the company in its country of formation or incorporation.


    • The applicant must also have provided documentation sufficient to demonstrate:
  • the full name of the company; and
  • whether the company is registered by the relevant foreign registration body and if so:
    - any identification number issued to the company by the relevant foreign registration body upon the company’s formation, incorporation or registration; and
    - whether the company is registered as a private or public company.

Use the standard Verification Form (S21)and also complete the business section.