Keeping Your Account Information Up to Date
At Orco Bank, we're committed to maintaining accurate client information and meeting our regulatory obligations. As part of our FATCA (Foreign Account Tax Compliance Act) and Common Reporting Standard (CRS) compliance requirements, we're asking selected clients to review and update information relating to their tax residency, citizenship and other account details. If you've received an email from us about this initiative, we kindly ask that you complete the requested update by the deadline provided in your email.
Why am I being asked to update my information?
Financial institutions are required to maintain accurate customer information to comply with international tax reporting regulations. From time to time, we may ask clients to confirm or update their information and provide supporting documentation to ensure our records remain accurate and up to date.
What information will I need?
Depending on your circumstances, you'll be asked to provide:
- A valid Passport (for non-resident clients) or Local ID (for resident clients)
- Proof of address dated within the last two months
- Your Tax Identification Number (TIN)
Your email will explain exactly what is required and how this is to be gathered.
How to Complete Your Information Update
Secure Link (DocuSign)
You will receive an email with the relevant link so you can submit your information.
- Open the Orco Bank email.
- Select the secure link provided.
- Complete the online form by filling in all relevant and mandatory fields.
- Upload your required documents (a valid ID & proof of address).
- Sign the document by inserting your name, initials, and selecting “Draw” in order to insert your scribble.
- Submit the form by clicking the blue finish button.
- We suggest you download a copy of your form for your own personal file.
- Submit your information.
Frequently Asked Questions
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1. Why have I received this request?
You've been contacted because we require updated information to meet our FATCA and CRS compliance obligations and maintain accurate client records.
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2. Is this request legitimate?
Yes. If you've received an email from Orco Bank regarding this initiative, you can complete your update using only the secure channel described in your email.
For your security, never share personal or financial information through unofficial channels. Always ensure you're communicating directly with Orco Bank. This aligns with the security guidance provided in the campaign materials.
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3. What documents do I need?
You'll generally need:
- A Valid Passport or Local ID
- Proof of address dated within the last two months
- Your Tax Identification Number (TIN)
Your email will specify the documents required for your account.
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4. What is Tax Identification Number (TIN), what does this mean?
A Tax Identification Number is a government-issued identification number used to identify an individual or business when filing taxes, reporting income, or handling other tax-related matters. The naming hereof can differentiate per country, e.g. United States would refer to this as a Social Security number. Canada refers to Social Insurance Number and CRIB in Curacao, Sint Maarten and Bonaire.
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5. How long does the process take?
The whole process takes between 8–10 minutes, provided you have your documents ready before you begin.
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6. Can I save my progress and finish later?
No. Partially completed forms cannot be saved. If you leave the form before submitting it, you'll need to start again. We recommend having all required documents ready before you begin.
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7. What happens after I submit my information?
Once submitted, your information and documents will be reviewed as part of our verification process.
If additional information is required, we'll contact you. Should you want to amend any information, please do not resubmit a new form but contact us at crs-fatca@orcobank.com.
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8. What happens if I've already submitted my information?
If you've already completed your update, thank you.
Please disregard any reminder emails you may receive while our records are being updated.
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9. Can I hand in all information in person at my respective branch?
Considering the technical review that needs to occur for each client, the form and required documentation can only by submitted digitally therefore a physical print out will not be accepted. -
10. What happens if I don't respond?
If we don't receive the requested information by the deadline provided in your email, your account may be subject to blockage or other actions in accordance with our account terms and applicable regulations.
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11. How will my information be protected?
Your information and documents will be submitted through Orco Bank's secure channels and handled in accordance with our privacy policy and applicable data protection regulations.
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12. I don't have one of the requested documents. What should I do?
Please contact us before your deadline. We'll be happy to discuss your situation and advise you on the next steps.
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13. I need help. Who can I contact?
If you have any questions or require assistance, please contact us at:
crs-fatca@orcobank.com
Our team will be happy to assist you.