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Notification to users of services provided by banks and savings houses

 

Dear Clients,

 

We hereby notify you, on behalf of the Banking Association at the Chamber of Commerce of Macedonia, that pursuant to the applicable law regulations in the Republic of Macedonia, all banks/savings houses when establishing business relations or exercising transactions shall carry out identification, verification and updating of the identity of clients.

 

This process comprises identification and verification of the identity of clients either individuals or legal entities through appropriate valid documents for their identification (valid identity card or passport for individuals, and current state not older than 6 months for legal entities) and filling out an application for client identification/updating, which is used in an identical form by each bank/savings house. The data obtained from this process must be updated on regular basis, at least on 2 year basis.

 

The applicable law regulations in the Republic of Macedonia prescribes the obligation for all banks and savings houses to update the base of their existing clients with valid data for their personal identification by May 2012. Since verification and updating of the clients’ data impede the regular operation of the counters in banks and savings houses and is extensive work, which takes much time, for the purpose of fulfilling the above stated legal obligations, the Banking Association at the Chamber of Commerce of Macedonia concluded to set its terms for realization of the data updating (01.05.2011) and invites all individuals and legal entities having accounts opened with banks and savings houses to come and update their data.

 

In terms of the foregoing, we kindly ask and invite all our clients, both individuals and legal entities, to identify themselves properly in their banks and savings houses, i.e. not to delay it and carry out it at their next visit to the bank/savings house and to update their data up to 01.05.2011.


Upon expiry of the stated term, operation with the accounts may not be performed smoothly until the moment of full identification and verification of the identity of the client by the bank/savings house.


Banks and savings houses require your personal data and data about your transaction only for the purpose of conforming to the applicable law regulations, without a possibility and discretion right to act otherwise.

 

At the same time, we would like to inform you that updating of these data is in your interest, since banks and savings houses can make a firm decision based on several information and in terms of all your requests, to send on time to correct address the monthly reports, notifications and additional materials which facilitate the cooperation between clients and their bank/savings house.

 

Sincerely yours,

Banking Association at the Chamber of Commerce of Macedonia