As a registered financial services provider (FSP1000546) we are required by law to verify all company directors & shareholders (with +25% ownership) under Anti-Money Laundering (AML) regulations.
We know AML verification is daunting and your previous verification experiences probably have been too. Thankfully, Emerge makes it straightforward.
Please note - Until all Directors/Shareholders are verified, you will be restricted to a $1,000 limit in your Emerge account.
Understanding Director/Shareholder verification
Once you have completed your business registration, you will need to invite any directors or shareholders (with +25% ownership) to complete AML verification as well.
At the bottom of your home page, click 'Manage' and scroll down to Business Settings > 'Business Information':
Under 'Director & shareholder verification', you'll see all your company directors/shareholders listed. This is pulled straight from NZBN as part of your business onboarding.
You can also see the current state of their verification status:
Required: You (as account owner) need to submit their information
Pending: The director/shareholder has yet to complete their AML verification
Verified: The director/shareholder is AML verified.
Adding & verifying Directors/Shareholders
Simply tap on the name of and Director/Shareholders under 'Action Required' to submit their information.
The fields in grey will have already been pre-filled using information from NZBN.
All you need to do is provide their contact information (personal email & mobile) + indicate what account access level they will receive. These include:
No access: You don't want this individual to have any access to the Emerge account
Team member: You will provide card/spending access but not oversight of the whole account
Admin: You will give the individual full access to the Emerge account
Once completed, simply submit the details and we will contact your director/shareholder with instructions on how to proceed.
What happens next?
Directors/shareholders will have different next steps required depending on the access level you have granted them.
No access: They will be emailed, informing them of your onboarding to Emerge and be asked to complete an AML check via the web. No further actions are required.
Team member/Admin: They will receive instructions to download the Emerge app. Upon completing personal onboarding + AML verification, they will see the invitation to your business's Emerge account.