Common use of Financial Regulation Clause in Contracts

Financial Regulation. EmbassyCard will regularly review, analyse transaction activities on customer cards through the EmbassyCard App and on its website, provides Financial Reports to the issuer partner banks which are regulated by the Central Bank of Nigeria (CBN) on request. As such, to comply with Anti Money Laundering legislation, we may request additional information regarding our customers’ source of funds when certain thresholds are reached. Once your EmbassyCard account, or your Supplementary Card, or your primary Card has received funds (Load Money) in excess of $5000.00 per quarter, or repeatedly having a balance above N250,000 on the Card, or regularly perform a Money Load in excess of N20,000 per day on the Card, we may write to you and ask you for the following information: o Time at your current address; o Employment status / source of income; o Employer and job title where applicable; o Industry / work environment where applicable;