1. What is an EDD form?
EDD stands for "Enhanced Due Diligence". This form helps us gather additional information about your business, your activities, and the origin of the funds that flow through your Qonto account.
EDD stands for "Enhanced Due Diligence". This form helps us gather additional information about your business, your activities, and the origin of the funds that flow through your Qonto account.
2. Why do I need to complete this form?
As a financial institution, we are required to perform certain additional checks to comply with European laws and regulations. By completing the EDD form, you help us ensure safe financial services and contribute to preventing financial abuse and fraud.
As a financial institution, we are required to perform certain additional checks to comply with European laws and regulations. By completing the EDD form, you help us ensure safe financial services and contribute to preventing financial abuse and fraud.
3. What information is requested?
You will be asked to provide, among other things:
You will be asked to provide, among other things:
- A brief explanation of your business activities;
- The origin of the funds that will be deposited into your account;
- Information about business relationships and countries you do business with;
- Details of the ultimate beneficial owners (UBOs) and directors;
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Sometimes some supporting documents, such as contracts, articles of association, or information about expected transaction volume.
4. What happens to my data?
Your data is used exclusively to comply with legal obligations. It is treated confidentially and not shared with third parties without permission.
Your data is used exclusively to comply with legal obligations. It is treated confidentially and not shared with third parties without permission.
5. What happens if I don't complete the form?
Without a fully completed EDD form, we unfortunately cannot activate or continue to offer your account. Therefore, it is important that you complete the form fully and submit the requested documents.
Without a fully completed EDD form, we unfortunately cannot activate or continue to offer your account. Therefore, it is important that you complete the form fully and submit the requested documents.
6. What if I need help completing the form?
Our team is ready to help you. Do you have questions or need help completing the EDD form? You can reach us by email at dag@qonto.com.
Our team is ready to help you. Do you have questions or need help completing the EDD form? You can reach us by email at dag@qonto.com.