We're reviewing your Pockit account to keep you safe. While we do this your account will be restricted. This means you won't be able to spend or withdraw money with Pockit.
To get you back up and running as quickly as possible we need you to send us a few things and answer some questions. We require a response within 7 days otherwise we will have to make a business decision regarding your account and funds.
In the world of financial services everyone must do their bit to protect the banking system against financial crime. In line with our regulators the FCA (Financial Conduct Authority) and UK Government guidelines all authorised firms must have systems and controls in place to mitigate the risk that they might be used to commit financial crime. This could be money laundering, fraud, identity theft or terrorist financing to name a few.
To do this it is our responsibility to carry out customer due diligence checks when prompted by our payment providers. This additional information is on top of the standard KYC (know your customer) checks that are automatically carried out when you sign-up. We appreciate that this can be inconvenient but to put it frankly, it’s the law and Pockit must comply with failure to do so risking fines for the company and legal consequences for our employees.
Yes, this is in line with section 7.6 of the terms and conditions you agreed to when you signed up for a Pockit account.