Term Deposit and AML ompliance

Repeating my comment from April 2016 that never got an answer.

Frustration that when statement makes a Term Deposit payment it does not say who it comes from. As minimum would expect ‘Name of other party’ to contain meaningfull information to Customer such as " BNZ TD". All other Interest and Dividend payers (eg Vector, Westpac Bonds etc) seem to conform to this Banking standard to provide a name, whereas BNZ doesn’t.

Would have thought the Anti Money Laundering Legislation would require a valid institutions name. Is the BNZ compliant with AML rules.


You think the legislation says something (no citation) and then ask whether the bank is compliant with what you think it says…?