1. How and when is the Customer Questionnaire updated?
By following the requirements established in legal acts, we ask you to periodically update the Customer questionnaire. The frequency of the update depends on various circumstances, e.g. possible risks of money laundering and terrorist financing. When you need to update your profile, you will see a "Please update your details" button in your profile.
2. On what basis does NS Pay request information about the origin of funds / assets, positions held, etc.?
We ask for such data so that we can better understand the origin of the funds in the client's e-wallet, as well as whether the transactions performed correspond with the income received. This helps us get to know our customers better and makes it easier to ensure the safety of our customers' funds.
Such a duty is established for NS Pay according to the Money Laundering and Terrorist Financing Prevention Law of the Republic of Lithuania.
3. What documents confirming the origin (source) of funds / assets can be submitted?
- Ordinary business activities - annual financial statements for the previous two years.
- Personal savings from income - a bank statement proving the salary transferred by the employer and an employment contract; a bank statement proving income if the person is self-employed; other documents that may be required depending on the situation, such as annual declarations.
- Sale of assets - a contract of sale and a bank statement proving the proceeds of the sale of assets; other documents that may be required depending on the situation.
- Inheritance - documents confirming the acceptance of the inheritance and a bank statement on the amounts received; other documents that may be required depending on the situation.
- Loan - a loan agreement and a bank statement confirming the received funds of the loan.
- Dividends - the company's annual report confirming the company's profit and a bank statement proving the payment of dividends, or the decision to pay dividends.
- Gift - a gift agreement and a bank statement proving the receipt of the gift; other documents that may be required depending on the situation.
- Other - please describe another source of funding and attach appropriate supporting documents.
4. I have already submitted information about myself to other state companies - the State Tax Inspectorate, the State Company Register Center, etc. Why can't NS Pay get the information it needs from them?
Legislation obliges NS Pay, as a licensed financial institution, to obtain the necessary information directly from its customers. The information held by the aforementioned institutions can be used as an additional source of data when checking the information provided by You.
5. What is ultimate beneficial owner?
The ultimate beneficial owner (UBO) in a legal entity is understood as a natural person who, directly or indirectly, with more than 25% of shares, contributions and/or votes in a legal entity, controls it as owner.
A legal entity registered in Lithuania must disclose information about its beneficiaries in the RC JANGIS subsystem.
6. What is PEP (politically exposed person)?
The concept of politically exposed person is specified in legislation, which states that politically exposed person is a natural person, who presently occupy or in the recent 12 months have held an important public position in any state and/or international or foreign state institutions, and his close family members (the spouse, the person with whom partnership has been registered (hereinafter – the cohabitant), parents, brothers, sisters, children, children’s spouses and children’s cohabitants) or his close associates (a natural person who participates in the same legal entity or an organization not having legal personality, or maintains any other business relationship with the person who presently occupy or have held an important public position; a natural person who has sole beneficial ownership of the legal entity or an organization not having legal personality which has been set up or is operating for the de facto financial or any other private benefit of the person who presently occupy or have held an important public position).
Information on politically exposed persons is collected as required by the Republic of Lithuania Law on the Prevention of Money Laundering and Terrorist Financing.
7. What to do, if my name or surname has changed?
Please submit a free form application and a new valid identity document by email kyc@nordstreet.com.
8. I received a message to update my personal document, how can I do it?
Acceptable document options:
- ID card (both sides);
- Passport;
- Residency permit (both sides).
Options to submit new document:
- Send new valid identity document by email kyc@nordstreet.com.
- Upload new valid identity document in Nordstreet user platform.
- Upload new valid identity document in Dokobit platform (https://www.dokobit.com/lt/), siging with e signature. Add our email address kyc@nordstreet.com, indicating a participant, with type “view only” so that we could see uploaded document. If desired, you can send us a message by activating the appropriate setting and filling in the message box.
9. What can happen if I do not answer the NS Pay inquiry or provide incorrect information?
Please be informed that in accordance with Article 18 of the Law on the Prevention of Money Laundering and Terrorist Financing of the Republic of Lithuania, refusal to provide the requested information may result in our refusal to perform financial operations, as well as partial or complete termination/refusal to start/continue business relations. In this case, NS Pay will not be liable for your outstanding or improperly fulfilled obligations.
