Please send your responses along with a certified copy of your client’s photo ID, a completed Financial Services Council (FSC) form, and any other additional documents listed above to email@example.com quoting your client’s reference number.
We need to receive your answers to the questions above within seven days.
If you’d like to discuss this further, please call us on 1800 808 508, 9am to 5pm (Sydney time) Monday to Friday.
Once the documents are provided, we’ll verify your client’s information against our records. If we aren’t able to successfully verify your client’s information by the date specified in our communication, we’ll need to place restrictions on your client’s accounts.
It’s important to note that there are other reasons why we may need to place restrictions on accounts. However, this article explains why we may need to place restrictions on accounts for AML/CTF reasons.
What does accounts restricted mean?
For cash, wrap and transaction and savings accounts:
- You and your client won’t have access to the money in any Macquarie accounts. If your client holds a trading/investment account, you and your client won’t be able to place investment transactions (equity trades, managed fund orders etc)
- Any direct debits or pension payments that are set up to come out of your client’s account/s will no longer be processed
- Your client now won’t be able to withdraw cash at ATMs using their card or access funds at point of sale (if applicable to the product).
If your clients’ accounts are restricted, your client can still receive payments into their account, however you and your client won’t be able to access these funds. Your client can also contribute repayments into your loan account/s during this period.
Please note, if we’re able to successfully verify your client’s information, we’ll remove the restrictions placed on their accounts. If applicable, your client’s loan services will also resume if we’re able to successfully verify their information.