Australia
ExpressOptions
How do I open an account and what do I need?
Applicants are required to provide Primary Photographic ID document (s) / and a Proof of Residence document:
Primary Photographic ID(s)
- Passport (valid)
- National ID
- Driver’s Licence
Primary Photographic ID must show, full name and date of birth, and full name must match your application.
If two Primary Photographic ID’s are supplied, with at least one containing full residential address and within valid date, that also will satisfy AML/CTF requirements.
Proof of Residence
- Bank or Credit Card Statement
- Utility Bill
- Government-Issued Tax Document
- Birth Certificate
- Certificate of Citizenship
Proof of Residence must be issued within the last 90 days, and clearly show the full name and residential address (PO Boxes will not be accepted), and the issuer’s name, address and issue date.
Unfortunately, as per AML/CTF regulations we cannot accept PO Box details as a valid residential address, in the event that you cannot provide a document with a valid residential address ONE of the following documents will suffice:
- A copy of a police record or local tax form (KRA, TRA, etc)
- A copy of your work contract stating your current residential accommodation of rental agreements
- One more Primary Photographic ID that shows full name, date of birth and residential address
What is our Funds Withdrawal Procedure?
The AML/CTF policy and procedure at ExpressOptions identified below is focused around adherence to guidelines that make sure that funds are securely sent back to the originating entity.
- The onus is on ExpressOptions clients to correctly nominate their account information via the secure client portal.
- All withdrawal requests once submitted by the client are sent to ExpressOptionss Operations Team for processing. Our Operations Team confirms the status and availability of balance on the client’s account, and then approves the withdrawal request, pending approval from our Compliance Team.
- ExpressOptionss Operations Team reviews all withdrawal requests and confirms that the funds are being withdrawn to originating entity. Our Operations Team checks the withdrawal request against the client’s deposit history to make sure there is no suspicious activity, and verifies the bank account on file.
- Approved withdrawal requests are processed by the Operations Team and the funds are released to the client.
- In the event that the withdrawal is flagged for suspicious behavior, the withdrawal is placed on hold, and ExpressOptionss Support Team will conduct further investigations.
- ExpressOptionss Support Team will liaise with our Compliance Team to see if further action is required and if any relevant regulatory bodies need to be contacted.
What AML Policies do we adhere to?
The AML/CTF policy and procedure at ExpressOptions identified below is focused around adherence to guidelines that make sure that funds are securely sent back to the originating entity.
- ExpressOptions takes note of funding from various bank accounts outside of the client’s home country.
- ExpressOptions bases its actions on the AML/CTF framework set forth by the Financial Action Task Force (FATF)
- ExpressOptions neither accepts or disburses cash under any circumstances.
- ExpressOptions matches each remittance to the account name on file for that client, so as to ensure that funds are always allocated to the matching entity.
ExpressOptions reserves the right to refuse processing a transaction at any stage where it believes there to be an AML/CTF or criminal concern. In accordance with international law, ExpressOptions is not obligated to inform the client if suspicious activity is reported to any corresponding regulatory or legal bodies.
