DOCUMENTATION

Your bank is asking about source of funds

How to prepare a coherent explanation and supporting records.

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Clarify the exact request

Identify whether the institution is reviewing a particular payment, initial funding or accumulated wealth. Requirements depend on circumstances and the institution; there is no universal evidence pack.

Clarify the exact request

Identify whether the institution is reviewing a particular payment, initial funding or accumulated wealth. Requirements depend on circumstances and the institution; there is no universal evidence pack.

Funds and wealth answer different questions

Source of funds concerns the money used in a particular transaction, such as property-sale proceeds or business revenue. Source of wealth explains how the individual accumulated their overall financial position. Both may be requested.

Funds and wealth answer different questions

Source of funds concerns the money used in a particular transaction, such as property-sale proceeds or business revenue. Source of wealth explains how the individual accumulated their overall financial position. Both may be requested.

Connect events with money movements

Prepare a chronology: economic event, supporting record, receipt, subsequent movements and intended transaction. For a property sale, this may involve the contract and a statement showing receipt. For a business, relevant contracts, invoices, reporting and banking records may be requested.

Connect events with money movements

Prepare a chronology: economic event, supporting record, receipt, subsequent movements and intended transaction. For a property sale, this may involve the contract and a statement showing receipt. For a business, relevant contracts, invoices, reporting and banking records may be requested.

Cryptoassets need an evidence trail too

A wallet balance alone does not explain acquisition. Depending on the requirements, exchange records, purchase confirmations, transfers between your own wallets and the original funding source may be relevant. The institutions determine their specific evidence and technical checks.

Cryptoassets need an evidence trail too

A wallet balance alone does not explain acquisition. Depending on the requirements, exchange records, purchase confirmations, transfers between your own wallets and the original funding source may be relevant. The institutions determine their specific evidence and technical checks.

Do not fill gaps with invented records

Where history is incomplete, identify genuine records that can be obtained or recovered. Explanations must match facts. A large collection of unrelated files is not a substitute for a coherent account.

Do not fill gaps with invented records

Where history is incomplete, identify genuine records that can be obtained or recovered. Explanations must match facts. A large collection of unrelated files is not a substitute for a coherent account.

Keep the file after the transaction

Account opening or completion of a review does not prevent later enquiries. Retain records, explanations and confirmations. SVIT OPLAT helps prepare the agreed file and responses; the institution makes the decision.

Keep the file after the transaction

Account opening or completion of a review does not prevent later enquiries. Retain records, explanations and confirmations. SVIT OPLAT helps prepare the agreed file and responses; the institution makes the decision.

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