Who is ibanXS?
ibanXS was founded in 2019 in The Hague area, The Netherlands. We aim to enable partners to gain access to European banks and Identity providers. By combining all open market services in our platform, we realize simplicity, security and unified access.
Which services does ibanXS provide?
The ibanXS Services are payment initiation services (“ibanXS PIS”) and account information services (“ibanXS AIS”). These are payment services as defined in the Payment Services Directive (also known as PSD2) (“Payment Services”). ibanXS is a licensed payment institution authorized to provide these payment services. Payment initiation services and account information services are the Payment Services referred to under numbers 7 and 8 of Annex 1 PSD2.
Is ibanXS trustworthy?
ibanXS received a license to perform their duties from the Dutch National Bank. Furthermore, ibanXS is under supervision of the DNB. ibanXS is being monitored throughout the year and must handle all client information securely.
Why do I need to fill in an onboardingsform from ibanXS
ibanXS has the legal duty on basis of the Wet Financieel Toezicht(wft) and Wet ter voorkoming van witwassen en financieren terrorisme(wwft) to check every new client of ibanXS. This check is also known as Client due diligence (CDD). With this form we get all the needed information to perform our CDD on you.
How does the onboarding work?
To start the onboarding, you select the correct onboardingsform for your company or you as a private person. Next you will have to fill in all the requested information from the onboardingsform. After filling in the information you can sign the document. After this the compliance department of ibanXS will check the given information and will either accept or decline your application.
Can I stop the onboarding?
If ibanXS hasn’t accepted your onboarding yet, you can stop the onboarding or change information in the form. When you change the information, you need to re-sign the form. If you want to stop the onboarding, you can abort the onboarding, by pressing the “abort onboarding” option.
Which form do I need to select?
ibanXS uses different forms for the onboarding. It is very important to select the right form, otherwise ibanXS must fail the request. We have the following forms:
- Freelance/Eenmanszaak: you are registered as a freelance/eenmanszaak by your national Chamber of Commerce.
- Foundation/Stichting: you are registered as a foundation/stichting by your national Chamber of Commerce.
- Company/Bedrijf: you are registered as a business by your nation Chamber of Commerce, not being one of the mentioned above.
- Private/Particulier: this form is chosen when the onboarding is for you as a private person and not as a business activity.
What happens if I choose the wrong onboardingsform??
As long as your onboarding hasn’t been accepted or failed by our compliance department, you can abort the onboarding. If you go to the onboardingsform there is the option to “abort onboarding”, after clicking this the onboarding will be stopped and you can select another form. The other option is that the compliance department will abort the onboarding if they see that the wrong form is submitted, you will receive an e-mail if that happened.
Why is the status of my onboarding displayed as failed?
If our compliance department finds any irregularity in the provided information, we will fail the onboarding. The reason for the failure will be given in the message send to you. You can then reenter the onboardingsform and fill in the missing or incomplete information. After resigning the form, your application will be reviewed again.
Where can I go for information or questions about my onboarding?
You can contact the customer service of the ibanXS Partner that is providing your service for questions or information about the onboarding. The customer service will help you with your questions. If it appears that you have a complicated question, the customer service will contact ibanXS. IbanXS will then investigate the question and answer back to customer service and/or also directly to you.
Uitleg specifieke informatie
What is a PEP?
A PEP is Political Exposed Person. This person needs to be closely monitored because they are more vulnerable for fraud or bribery. You can check if you are a PEP with the following list from the Dutch Government (PEP checklist Dutch Government). You also qualify as a PEP if your spouse, children or parents are identified as a PEP.
What is my SBI-code?
It is necessary as a business to give us your registration document by the Chamber of Commerce. In this document the Chamber of Commerce assigns a specific number for each business activity. ibanXS needs those numbers and a short description of your main business activity. A SBI code may look like something like 4334 or 97112.
What is an UBO?
UBO’s are the people who ultimately own or control an organization. Think about people who own more than 25% of the shares in a B.V. Or people who have more than 25% ownership interest in a VOF. You are also a UBO if you have more than 25% of the voting rights in an amendment to the articles of association of a foundation. It is possible that you don’t have a person who fulfills the criteria of an UBO. If that is the case, you need to fill in your boardmembers as UBO.