Frequently asked questions
Why do I need to check my details?
We need to have the correct details of your company to keep doing business with you. This is a requirement of the Anti-Money Laundering and Anti-Terrorism Financing Act (in Dutch: Wwft), which applies to all financial institutions in the Netherlands. Some details can be collected from the Chamber of Commerce (KVK), but not all. That is why we ask you to check your details every now and then. Update or complete them if needed and help us keep transactions safe for everyone.
What details do I need to check?
We ask you to check the personal details of your company’s authorised signatories and Ultimate Beneficial Owners (UBOs).
For authorised signatories and UBOs, you will need to check:
- Date of birth
- Name as stated on the ID
- The country of residence
If your organisation is part of a holding structure, we may also ask you to provide details of intermediate entities. For these entities, you might need to provide information such as:
- Chamber of Commerce number or foreign equivalent
- Organisation name
- Legal form
My company details haven’t changed. Do I still need to check them?
Yes, even if nothing has changed, we still need you to confirm this. This ensures everything is correct and keeps us compliant with the Wwft. We understand you would rather not spend time on this, so we have made this process as quick and easy as possible. Log in to My ICS Business, check your details, and confirm them if they’re correct.
What happens if I do not check my company details?
ICS follows Dutch rules to prevent money laundering and terrorist financing. By cooperating, you are helping us combat these activities. Without your help, we cannot meet our Wwft obligations. In that case, we would have to terminate our agreement with your company. And you would not be able to use our products and services anymore. To avoid this, please make sure your details are checked in time.
How do I know the email about checking my details is not phishing?
It is good to be cautious. Always check if the sender’s email address is correct. For emails about checking your business details, the address is: noreply@service.icscards.nl.
You can recognise scam emails as follows:
- The email is usually not addressed to you personally, it says 'dear customer' or 'dear Sir/Madam'
- The email asks you to act quickly
- If you do not respond to the email immediately, your credit card will be blocked
- There is also a link in the email that takes you to a fake website
- Your mail provider or spam filter will usually tell you that the email is spam
Read more about recognising phishing mails.
Where can I find information about my company’s UBOs?
You can find information about UBOs in:
- Extracts from the Trade Register or UBO Register of the Chamber of Commerce
- The deed of incorporation
- The articles of association
- The management report
When is someone a UBO?
A UBO is a person with a financial or controlling interest in your organisation, either directly or indirectly. A company can have multiple UBOs.
A person is considered a UBO if they:
- own more than 25% of the company:
They hold more than 25% of the shares or certificates or have a right to over 25% of the company’s profits or assets.
- have more than 25% voting rights in the company:
This can include the right to appoint or dismiss management or to alter the partnership. They may also help finance the organisation.
- have effective control over the company:
This refers to people not covered by the above categories but who influence the company’s policies. This could be a former owner in a family business or a director of an association or foundation.
UBOs vary depending on the legal structure. Want to learn more? Visit the Chamber of Commerce website.
What is an intermediate entity?
Intermediate entities often exist within holding structures. If your organisation is part of a holding with other organisations, we ask you to share details of the other organisations. This helps us understand your organisational structure.
I am a contact person. Can I check and confirm the company details?
Only an authorised signatory can confirm and change a company’s details. Therefore, it’s usually quickest if an authorised signatory logs into My ICS Business to check and confirm the details.
As a contact person, you can check the details in My ICS Business. However, to confirm them, you must download a PDF form. This form must then be signed by an authorised signatory of your company.
Can I, as an authorised signatory, check and confirm my company’s details?
Yes, as an authorised signatory, you are allowed to check, confirm, and change company details, as well as those of authorised signatories, UBOs, and intermediate entities.
Do you have any other questions? We are here to help. Call us on working days between 8:00 and 18:00 on +31 (0)20 – 6 600 666.