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How to:

Complete bank verification for individual/joint accounts

Need to verify bank details for an individual or joint account? Follow this quick and easy guide.

Once we’ve verified the bank details, we won’t need to do this again for future instructions.

Key things to remember

Bank statements must be dated within three months, and must include:

  • Account number
  • Account name
  • Sort code
  • Client’s address
  • Wet signed and dated certification on the page with the client’s address, sort code and account number. None of the certification can be done electronically.

Bank statements, continued:

  • We can accept a printed out online version of the statement, provided all the information specified is on one page and it’s certified. It would need to be in the usual statement format with the relevant information – not just a transaction list.
  • We don’t require any ID as long as the statement is certified by a Financial Adviser within the firm.

To certify documents, the certifier should:

  • Add the statement ‘Certified as a true copy taken from the original’
  • Print their name clearly in capitals underneath their signature
  • Record the capacity or position in which they are certifying the document
  • Firm name and address
  • Wet sign and date the copy documentation on all pages.

People we can accept certification from include:

  • Financial Adviser
  • Solicitor
  • Lawyer
  • Councillor
  • Minister of Religion
  • Chartered Accountant
  • Bank/Building Society
  • Police Officer
  • Doctor
  • Dentist
  • The Post Office.

Adviser Zone journey

From the Adviser Zone dashboard;

Go to ‘Investor details’

  • You can find this by searching for the client, clicking the ‘Maintenance tab’ and then selecting ‘Investor details’.

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Or follow the Online Withdrawal journey

  • If the bank details are added during the Online Withdrawal Journey and they don’t verify, then you will need to resubmit the Online Withdrawal once the bank account has been verified.

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For an individual account or a joint account that fails verification, you will have the following options

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Use the Client Biometric Verification (Credas)

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OR submit documentation through Adviser Zone:

  • Use either a certified copy of a UK bank statement, dated within the last three months, showing the client’s name, address, sort code, and account number. (Certified by a Financial Adviser within the firm)

or

  • A Bank Details Form that has been wet-signed and dated by the client and witnessed by the Financial Adviser.

The witnessed Bank Details Form must:

  1. Be wet signed and dated by the adviser and the client. We cannot accept electronic signatures.
  2. Be fully completed, with no sections left blank.

*Please note if you wish to submit documents at a later date, you will need to submit them via the bank details portal by clicking the blue edit icon on the unverified bank account, not via the secure message portal.

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What happens next

If the verification is successful, your client’s bank account status will automatically update to ‘Verified’ within Adviser Zone. Where there’s a query, or supporting documentation has been provided, the information will be reviewed and assessed against the required criteria. If the documentation meets these requirements, the bank details will be verified accordingly. Should further information be required, we’ll contact you to request the necessary details.

The ‘Bank Verification’ report within Report Zone enables you to identify all clients whose bank details have either been verified or remain unverified on the system.

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Contact our team today

Whether you're looking to start using our service, or simply have a question for us, we're just a phone call or email away. Lines are open 9am to 5pm Monday to Friday. To help us improve our service, we may record or monitor calls.
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For Wealthtime platform queries, call
0345 680 8000

For Wealthtime Classic platform queries, call
03330 417 010