We need to keep up-to-date records for our customers to meet our legal and regulatory obligations and to help protect against fraud and financial crime.
We’ve been reviewing and validating the information we currently hold and have written to some of our customers to ask them to confirm some of their business information.
It’s really important that you provide this information if we ask for it. It’s a condition of your merchant agreement. If we don’t receive the information that we need from you, we will have no option but to take steps to restrict or close your account.
How do I know this request is from a trusted source?
If you’re concerned and would like to speak to us about this though, you can call us on 0844 811 6666 and ask our colleagues to get a message to our KYC (Know Your Customer) team. Alternatively, you can fill in the “Contact Us” web form.
What happens if I do not confirm this information?
If you fail to provide this information by the date that we request it, we’ll be forced to restrict or close your merchant account. We don’t want to do this, but our regulatory obligations will leave us with no choice.
Barclaycard called me to discuss this, why do you need to ID me if you called me to discuss?
If we call you about this, we need to verify that we’re speaking to the authorised account contact in order to discuss the account details. This is part of our standard Identification and Verification process which is designed to protect your account.
Can’t you just update the information you hold based on what’s held with other information bureaux?
We have tried to compare the information we hold with what’s held elsewhere, but we won’t amend anything until you’ve confirmed the change. We’re governed by the Data Protection Act so we’ll only amend any information we hold on you or your company with your permission to do so.