Reverification FAQs
We may have recently let you know that you need to be reverified. This is for the safety and security of Hargreaves Lansdown and our clients. Here are some FAQs to help you understand some questions you may want answered. If there is anything we haven't covered, please feel free to contact us.
Under UK Money Laundering regulations, we need to reverify our clients regularly and not just when you open an account with us. This is for the safety and security of Hargreaves Lansdown and our clients.
Why has this not happened before?
Previously we reverified our clients based on certain activities. However, processes and regulation changes have evolved, and we now need to reverify clients on a regular basis.
We will first use an external agency called Equifax to initially verify your details. This isn’t always successful and doesn’t mean that there is a problem, only that Equifax doesn’t hold enough information to adequately verify your identity at the address that we currently have on record for you. It’s nothing to be concerned about.
If we’ve asked you to provide documents electronically, thern we’ll do this using an external data verification company called Mitek.
No. The check is an identity check and not a credit check.
Yes, via an external data verification company called Mitek. You can find out more about how we work with Mitek here.
Please provide postal copies of two separate documents from List A or one document from List A and one from List B. The documents should show your full name, date of birth and current address. At least one document must show your current address.
List A
Copy of Current Photo Driving Licence (full or provisional)
Copy of Passport
Copy of National Identity Card (non-UK national) or UK Residence Permit
Copy of Identity Card issued by the Electoral office for Northern Ireland
List BAll list B documents should clearly show your current address and your full name/surname
Copy of Current Council Tax Demand Letter or statement (no more than 12 months old)
Copy of Utility Bills – Water/Electricity/Gas/TV Licence (no more than 6 months old)
Copy of Mobile Telephone/Landline/Broadband Bill (no more than 6 months old)
Copy of Bank/Credit Card/Mortgage Statements, issued by a regulated financial sector firm. (no more than 3 months old)
Copy of HMRC tax letter (no more than 12 months old)
Copy of Care Home letter confirming client’s residency on Company headed paper (with an original signature from a manager of the home) (no more than 6 months old)
Copy of Current Full UK Driving Licence (old style) (we advise you not to send the original document)
Copy of Recent (less than 12 months old) evidence of entitlement to a state or local authority-funded benefit, including housing benefit, council tax benefit, tax credit, pension, educational or other grant
We won’t be able to accept any new contributions into your account, and you will not be able to make any withdrawals. However, you will be able to trade as normal. As soon as we receive acceptable documents from you, we will be able to lift these restrictions.
Existing Regular Saving payments along with any Employer Contributions will continue as normal. However, we cannot accept any new instructions. In addition, regular monthly drawdown payments that are already in place will continue. However, we will not be able to set up any new payments or amend existing payments.
These will be processed within 3 working days upon receipt of either your electronic or postal documents. Once that is done, we will lift the restrictions on your account and notify you.
You can do this by logging into your online account and selecting the 'Account Settings’ tab and then 'Personal details and statement delivery’, which can be found on the left-hand side of the page. Next, select the blue ‘Edit personal details’ box, which will allow you to amend these details.
If you have been contacted, it will be because we need your assistance. Our records show that you are linked to an existing HL account. The communication you received will have details of this link; however, please contact us on the number provided for further assistance.
Anti-Money Laundering regulations require us to verify the settlor (if applicable), trustee, and beneficiary. Even though they do not manage the account, they are entitled to the assets.
If the beneficiary is named in the trust deed, then we will require a ‘list A document’ regardless of age.
No, as long as nothing has changed since the account was opened. It is your responsibility to keep us informed of any changes and provide us with a deed of amendment.
Please ensure that the reference entered on the 'Enter your Details' page is your Hargreaves Lansdown client number followed by a '-01'. For example: '123456-01'. If this is your second attempt at using Mitek, please use '-02', and if your third '-03'.
We are legally required to verify our clients’ names and addresses on an ongoing basis. This may also involve our asking you questions about your source of wealth and source of funds. This ensures that we can protect client accounts and assets.
We require a detailed statement confirming how you have historically generated your wealth and how you are currently generating your wealth.
Please ensure that you provide as much detail as possible when describing how you have generated your wealth. We advise at least three paragraphs to ensure that we have a thorough understanding and to avoid the description being rejected.
A lack of detail or evidence may cause a delay in your documents being reviewed and potentially rejected, and we will need to request more detail.
Examples of required source of wealth information and documentation are listed below.
| Source | Information | Documents |
|---|---|---|
| Property sale | Details of the property sold (i.e. address, description, date of sale, sale value, parties involved) | Copy of property sale contract (confirmed by the notary, where applicable) Title deed from land registry / Confirmation of the ownership rights to the property Confirmation of the payment |
| Company profits/dividends | Dividends/profits received Date and period for which dividends/profits were paid Source of dividends/profits | Copy of (audited – if available) financial statements Shareholders decision on dividend payout Tax declaration form confirmed by the tax authorities |
| Inheritance | Type of inheritance Name of the deceased Date of death Relationship to Client Date received Total amount Solicitor’s details | Death certificate confirmed by the respective authorities Will Court decision related to inheritance (if required) Tax clearance document confirmed by the tax authorities Confirmation of the payment of inheritance |
| Gift/Donation | Type of gift/donation Date received Total amount Relationship to Client Donor’s source of wealth | Letter from donor explaining the reason for the gift/donation and the source of donor’s wealth Certified identification documents of donor Tax clearance document confirmed by the tax authorities (if required) |
| Company sale | Internet research of Company Registry Name and address of the company Total sales price Client’s share participation Nature of business Date of sale and receipt of funds Media coverage | Copy of the sale contract confirmed by the notary Confirmation of the payment (confirmed by the third-party bank) Extract from commercial register |
| Salary/Bonus Payments | Name and address of the employer Nature of employer’s business Period of employment Name of position and scope of responsibilities Annual salary and bonuses | For an employee of a company: Employment contract (signed by both parties) Salary verification letter (confirmed by the employer) Employment reference letter (confirmed by the employer) Confirmation from employer of annual salary and bonuses Tax declaration (confirmed by the tax authority), in countries where it is applicable For a self-employed person: Tax declaration (confirmed by the tax authority), in countries where it is applicable |
| Sale of shares or other investments | Sale value of shares sold and how they were sold (i.e. name of stock exchange) Date of sale | Share sale agreement/Confirmation of sale from the broker Confirmation of the payment confirmed by the third-party broker) Statement of account from agent/agency company Transaction receipt/confirmation Shareholder’s certificate |