How will digital onboarding for private customers work?
From the migration date, your private, single account customers will benefit from full STP and Saxo’s digital onboarding flow. All customer types are onboarded under the legal entity of BinckBank N.V., like you have been used to.
Onboarding private customers
Opening private, single accounts through Saxo’s digital onboarding flow allows for account applications to be processed swiftly, on the condition that all documents provided meet the specified documentation requirement.
Pre-onboarding
The process starts with a pre-onboarding flow where you select your investment management type and language.
You also determine if you submit the onboarding application together with your customer or if the customer will do the submission.
Onboarding flow
You will receive a personal link to your onboarding flow for your private customers. View sample digital onboarding flows for BinckBank NV in Dutch and for BinckBank BE in Dutch and French.
As part of the process, the system generates a personal onboarding link for each new customer which you can easily share.
You can keep track of the onboarding status of your private account applications in SaxoPartnerConnect.
How will the onboarding of corporate, joint and minor accounts work?
Corporate, joint and minor accounts are onboarded to Saxo’s infrastructure using a paper-based client application form (CAF). All customer types are onboarded under the legal entity of BinckBank N.V., like you have been used to.
View the client application forms at our help centre.
You start the onboarding of corporate, joint and minor accounts from case management in SaxoPartnerConnect. You also keep track of the onboarding status of your corporate, joint and minor account applications in SaxoPartnerConnect.
Important documentation for onboarding
Find other important documentation for onboarding including terms and conditions and client agreement for Tripartite Services at the help centre. Also, please note that to be able to onboard, all end-customers must be registered as an Ultimate Beneficial Owner (UBO).
When do I start using the onboarding processes to onboard new customers to Saxo’s platforms
For independent asset managers migrating on 29 August 2022
Onboarding cases started after 16 August 2022 will be onboarded on Saxo’s side. You’ll be able to check status of those cases in SaxoPartnerConnect.
You will experience longer onboarding time between 16 – 29 August 2022. Onboarding of new customers can only be completed after 29 August when the customer can fund the account and you can start trading.
You should start using Saxo’s paper CAFs for private, corporate, joint and minor accounts from 16 August. This ensures submission of all necessary information required for Saxo’s CDD processes. Access the client application forms at our help centre.
From early September, you can start using the digital onboarding flow for private customers. You will receive your personal link from your relationship manager.
What happens to customer applications started on the Binck side which have not been completed?
Your open onboarding cases started on the Binck side will be picked up and finalized on Saxo’s side. You’ll be able to check onboarding of those cases in SaxoPartnerConnect.
For independent asset managers migrating on 29 August
Should you receive Binck paper CAFs from your clients after migration, we accept and process the forms until 16 September 2022. You need to submit the legacy forms through case management in SaxoPartnerConnect and include a Source of Wealth Declaration as per the new CDD processes.
Can I onboard customers via Open API
You will be able to onboard private, single customers via Saxo’s onboarding API during April 2022. The integration will be dealt with on an individual basis. Please contact your account manager.