What information do I need to provide to open an indó account?

When you open an account with indó, certain information is retrieved from the Icelandic National Registry (Þjóðskrá). Additionally, we ask for your email address so that we can contact you directly via email if needed.

indó also has a legal obligation under anti-money laundering laws to verify the identity of its customers and monitor their activity in accordance with Icelandic law. The purpose of these questions is primarily to understand how you are expected to use your account with us.

The questions you need to answer when opening an account are as follows:

  • What is your employment status?
  • Do you have a tax liability in another country than Iceland?
  • Are you liable for taxes in the United States?
  • What is your estimated monthly turnover through indó?
  • What is the origin of your funds you will be depositing to indó?
  • Have you, a close family member, or a close associate held a senior government position during the last 12 months?

After answering a few questions, you’ll pick your account number and choose between a pink or green card. It’s important to choose the one you like the best! Once you’re done, your account is created, and your card number becomes active.

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