You can update the data in any First Bank branch or through the portal on the website.

a) Even if nothing has changed, the data must be updated / confirmed periodically. The revaluation will be made at the communicated term, depending on the specifics of the client's activity or at any time, at the express request of the bank.

b) It is also necessary whenever there have been changes in the personal data previously provided (for example: change of identity card, address, telephone number, etc.).

If you initiate this process in the branch, make sure you have your identity document and, if applicable, proof of domicile at hand.

If you initiate this process on the website it is necessary to be a Romanian citizen domiciled in Romania, you do not have the place of birth in a country mentioned in the Policy for the Prevention of Money Laundering, for Combating the Financing of Terrorism and for the application of International Sanctions – link: https://www.firstbank.ro/firstbank/banca/informatii-generale/politica-externa.html (for these clients, updating the personal data can be done only by presence in a Territorial Unit) and to be over 18 years old. You will also need a webcam or mobile phone camera.

a) Persons who hold or have held important public positions (eg. head of state, head of government, minister, deputy minister, secretary of state, member of Parliament or other similar central legislative body, member of the governing body of a political party, member of the supreme courts / constitutional courts, etc.).

b) Also, the family members of a publicly exposed person receive the same status. Thus, the spouse of the publicly exposed person or his / her partner / person with whom he / she is in a similar relationship to those of the spouses; children and spouses or their partners, the persons with whom the children are in relations similar to those of the spouses; the parents.

c) Persons known as close associates of publicly exposed persons.

The source of funds is the source of funds used in the business relationship or in the occasional transaction that a natural or legal person carries out with First Bank. We assure you that we fully respect the confidentiality norms and GDPR regulations in this regard.

FATCA stands for "The US Foreign Account Tax Compliance Act"; is a set of laws passed by the US in order to prevent and reduce cross-border tax evasion. FATCA is intended for individuals and legal entities (with US citizenship / residence or controlled by US citizens / residents) who have tax obligations to the US, whether or not they are inside or outside the US.

All this information is necessary for the Bank to comply with the requirements of international tax evasion law.

If you do not update your data, we will have to implement gradual measures, starting with the refusal to provide new products / services and continuing to block access to existing products, non-updating may even result in the termination of the contractual relationship.

Updating the information is a necessary action in relation to a banking financial institution, which ensures both the fulfillment of legal obligations and the protection of your interests in order to maintain a consistent level of accuracy of previously communicated data.

If transactions different from the declaring profile are carried out on your account in the previous process of customer knowledge / data update, the Bank may request additional explanations or documents to justify the respective transactions.

If the transactions cannot be justified, the Bank can take a series of measures that can range from rejecting the transaction to restricting access to products or even closing the business relationship.

In law, these active and transactional verifications are standard measures that all financial-banking institutions in Romania apply in the customer knowledge process, according to Law 129/2019.

a) If there have been changes in the company’s structure (essential data such as shareholders, administrators, registered office, ultimate beneficiary owner, etc.), you can update all data in First Bank branch that manages the business relationship;

b) If there have been no changes in the company structure and the form of organization is LLC or PFA, you can confirm the data through the portal on the website.

a) Even if nothing has changed, the data must be updated / confirmed periodically. The revaluation will be able to be done at the communicated term, depending on the specifics of the company's activity or whenever it will be necessary, at the express request of the bank.

b) It is also necessary whenever there have been changes in the data provided in your last interaction with the Bank.

If you initiate this process in the branch, it is necessary to keep the recent company documents, which show the up-to-date structure, as you registered it with your regulatory authority (for example, Trade Register for LLC / SA / PFA, Bar for Cabinets of Law, Chamber of Notaries Public for Notaries, etc).

If you initiate this process on the website, it is necessary to keep, in electronic format, the recent documents of the company, from which the up-to-date structure should emerge, as you registered it at the Trade Register. Below you can see the list of documents necessary to confirm the data through the online portal:

LLC:

1. Updated articles of incorporation or Company contract + Statute + Additional documents (if the last update took place before 29.06.2007);

2. Certificate of registration with the Trade Register;

3. Copies of identity documents legal representative / real beneficiaries.

4. Finding certificate obtained from ONRC (with bar code), not older than 10 days. If you cannot bring this document, the Bank will obtain it in your name and on your basket. If the company has at most 30 days from the establishment, the certificate is no longer necessary.

5. The decision of the GMS / Sole Shareholder (First Bank format) regarding the opening of the bank account and the appointment of the representative in the relationship with the bank.

PFA:

1. Certificate of registration at the Trade Register or Certificate of fiscal registration.

2. Finding certificate obtained from ONRC (with bar code), not older than 10 days. If you cannot bring this document, the Bank will obtain it in your name and at your expense. If the PFA has no more than 30 days from the establishment, the certificate is no longer required.

3. Copy of the identity document holder of the authorized natural person / real beneficiary.

The beneficial owner is any natural person who ultimately owns or controls the Bank's customer. 

The real beneficiary of a natural person account is, unless otherwise specified, even the natural person in whose name the account is opened and for whom the transactions / operations are performed.

The real beneficiary of a legal person account is the natural person or the group of natural persons who ultimately own or control the company and for whose benefit the transactions / operations are performed.

If you do not update your data, we will have to implement gradual measures, starting with the refusal to grant new products / services and continuing with blocking access to the company's products, not updating can even result in closing the contractual relationship.

Updating the information is a necessary action in relation to all banking financial institutions in Romania and ensures both the fulfillment of legal obligations and the protection of your interests in order to maintain a consistent level of accuracy of previously communicated data.

If on your account or on the account of the company you represent, transactions different from the declaring profile take place in the previous process of customer knowledge / data update, the Bank may request additional explanations or documents to justify the respective transactions.

If the transactions cannot be justified, the Bank can take a series of measures that can range from rejecting the transaction to restricting access to products or even closing the business relationship.

In law, these active and transactional verifications are standard measures that all financial-banking institutions in Romania apply in the process of customer knowledge, according to Law 129/2019.