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.
Watch the recording from our webinar #10 on onboarding
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.
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.
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. Watch the video on ‘monitoring onboarding’.
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. Watch the video on ‘monitoring onboarding’.
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 31 October 2022
Onboarding cases started after 17 October 2022 will be onboarded on Saxo’s side.
From Tuesday 18 October, you can start using Saxo’s paper CAFs for private, corporate, joint and minor accounts for new customers. Please submit the forms via case management in SaxoPartnerConnect. Find the documentation and client application forms here.
You can the track status of your onboarding cases via the client onboarding module. Watch the video on monitoring onboarding.
Please expect longer onboarding times between 17-31 October 2022.
Any open onboarding cases started on the Binck side before 17 October will be picked up and finalized on Saxo’s side.
Should you receive Binck paper CAFs from your clients after migration, we accept and process the forms until 18 November 2022.
Digital onboarding for private customers
For partners where SFTP connections have been created for onboarding, we will provide you with your personal link to your onboarding flow for your private customers
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.