When to collect information

Personal information is required from customers like Wilma Roberts when seeking most financial services including:

• When an account is being opened
• When a current account is being changed and additional information is required
• When you need to validate a customer's identity before responding to an enquiry or starting a transaction
• When a qualified staff member is assisting a customer with a financial service such as financial planning.

The customer has a choice to provide or withhold personal information. However, with insurance and related financial services, a customer's decision to withhold particular details may limit or prevent you from providing the products or services requested. It may also make it more difficult for you to explore alternatives with the customer.