Before you can open a new account – including a current account – you must provide proof of your identity and address to the provider. This requirement is designed to prevent money laundering. Money laundering is the practice of criminals using accounts to hide the origin of their funds (e.g. drug dealing) or to make payments to support their activities (e.g., terrorist activities). If a provider does not comply with this requirement, they will be subject to heavy fines. For example, the Financial Conduct Authority [FCA] fined a private bank [FCA] £4,2 million for failing to adequately maintain and implement effective anti-money laundering controls for more than three years [FCA, 2013]. When you show your documents to providers in a branch, the documents must be originals, not photocopies or prints from internet sites. The provider will not accept photocopies if they have expired. If you’re applying online, you’ll be asked to submit documents by post or to show them to your local branch. Posted documents can sometimes be photocopies, particularly if they’re signed by a professional, such as a lawyer, accountant or doctor, to ensure they’re genuine copies of the originals and that the person signing them has seen them. You’ll need to check with your provider which documents are accepted, as this can vary from one provider to another and account to account. If you’re on benefits, young or don’t pay your bills, you may find it hard to prove your identity and address because you don’t have the types of documents required. Providers will accept other documents in these cases. For example, people on benefits could use an entitlement letter from the DWP, HMRC or a local authority, or a DWP or local authority identity confirmation letter. Young people can use a birth or adoption certificate as proof of identity. You’ll also need a letter from your school, college, university or care institution or your employer confirming your name, address and information about your educational or employment status. The letter must have been issued within the last 12 months. You may also be able to use your UCAS letter. Some accounts designed for very young children will take your parents’ or guardian’s identification and address details instead. An application for an account may be declined by the provider. This may be because the provider believes that the applicant is not a “high-net-worth” customer. The provider may also request that the applicant open another type of current account. For instance, George applied to open a “standard” current account. George’s provider looked into his history and found that he was having trouble paying back what he owed. they recommended George open a “basic” current account, but said they would review his account within six months.