lock Problems with KYC forms or GO Issuing Body contractual changes

Some RECS Members have mentioned that recent contractual changes and/or Know Your Customer (KYC) forms being required by issuing bodies have placed an unnecessary burden or contractual responsibility on the market player. 

The secretariat requests that members come forward if they have been confronted by burdensome or out of the ordinary requests from their local GO issuing body. We know that some AIB-member issuing bodies have requested new KYC forms be completed or have even unilarterally changed the contractual agreement for account holders. 

If these or other changes have negatively effected you or your business please contact the RECS Secretariat (secretariat@recs.org). We are interested in knowing if any collective action is needed in response to these requests.

Please feel free to e-mail or call the secretariat if you have had any additional questions or concerns.