Version compare
Pick a document and two versions to see exactly what changed, section by section.
6 sections changed
v1.0 → v2.0
Before
Applicants must have completed standard Know Your Customer (KYC) identity verification and must not appear on an active sanctions or adverse-media watchlist. Applicants under 18 years of age are not eligible for a primary card account.
After
Applicants must have completed standard Know Your Customer (KYC) identity verification and must not appear on an active sanctions or adverse-media watchlist. Applicants under 18 years of age are not eligible for a primary card account. Applicants flagged as a Politically Exposed Person (PEP) during KYC screening require Enhanced Due Diligence (EDD) sign-off from Compliance before any card can be produced, regardless of the requested credit limit.
Before
Standard consumer card issuance is automatically approved for credit limits up to €5,000, based on the applicant's bureau score and existing relationship data. Requests above €5,000 must be escalated to a Risk Officer for manual underwriting review before the card is produced.
After
Standard consumer card issuance is automatically approved for credit limits up to €7,500, based on the applicant's bureau score and existing relationship data. Requests above €7,500 must be escalated to a Risk Officer and require a second independent reviewer (four-eyes review) before the card is produced.
Before
Cards may be issued through branch applications, online banking, or the mobile banking app. All channels feed the same underwriting engine and approval-limit rules defined in this policy.
After
Cards may be issued through branch applications, online banking, or the mobile banking app. All digital channels feed the same underwriting engine and approval-limit rules defined in this policy, with results returned in real time.
Branch staff may accept a paper application form (Form CC-1) for customers without reliable digital access. Paper applications are scanned and keyed into the underwriting engine by end of the next business day, and the original form is retained for seven years in the branch archive.
Pre-approved customers with an existing current account in good standing may receive an instant virtual card in the mobile app immediately on approval, provisioned to the device wallet ahead of the physical card arriving by post.
Before
New cards are shipped inactive with a separate PIN mailer. The customer must activate the card via IVR, mobile app or online banking within 90 days of dispatch, after which the card is automatically deactivated and must be reissued.
After
New physical cards are shipped inactive with a separate PIN mailer. The customer must activate the card via IVR, mobile app or online banking within 60 days of dispatch, after which the card is automatically deactivated and must be reissued.