Hey Tricounters 🌈
Our aim is to keep your account and funds secure. That’s why we’re required to regularly monitor the activity and the transactions on accounts to prevent any misuse of our services. One way we keep your account safe includes "Transaction Monitoring".
What does transaction monitoring mean?
Transaction Monitoring is the way Tricount and all banks and financial institutions monitor their customers’ financial activity for irregularities or signs of money laundering, terrorism financing and other financial crimes and service misuse.
This is why we sometimes need more details to better understand how you use your Tricount account in order to make your and other users' banking environment more secure.
What should I provide you with?
Since we need to have a clear record of your source(s) of income and the activities on your account, we will ask questions related to these. To confirm your main source of income, you can provide one of the following:
- ✅ Recent salary payslip
- ✅ Employment contract
- ✅ Tax declaration
- ✅ Bank statement of another account of yours no older than 6 months
- ✅ Document clarifying the source of the money received on your Tricount account, not older than 6 months
- ✅ Explanation on the purpose of specific transactions on your Tricount account.
Keep in mind that the relevant department reviews the information you provided within the next 5 working days.
We may also inquire about a specific transaction or person/counterparty you engaged with. In such cases, we’d ask you to provide us with more insight regarding the reason for the payment(s), how you are related to the other person or entity and some supporting documentation for the transaction(s). This could be:
- ✅ an invoice
- ✅ mutual contract or agreement
- ✅ any other relevant document that will serve as proof of the payment(s) and gives a clear record and reasoning
In any case, please provide us with accurate detailed information which will help us best understand your account activities and will minimize the duration of our inquiry and review process.
What happens if I don’t provide the needed document(s)?
Sometimes we can temporarily restrict your account if you fail to respond to the above-mentioned inquiries. We'll always make sure to inform you about any action on your account from our side. For more information on this you can check here.
If the inquiry was related to a pending payment, we may decline it due to insufficient information being provided.
Tricount doesn't terminate an account without further explanation, since account termination is something we take seriously. We may have to move forward and terminate your account only if we’ve noticed activity against our Terms & Conditions. Feel free to find more info here.
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