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What is the Source of Funds Declaration?

When you send a bank transfer for an amount greater than 15,000 EUR, you’ll need to fill in a Source of Funds Declaration. It refers to the funds that are being used for this specific transfer. 

Keep in mind that you can send bank transfers for such amounts only through the online platform. Once you enter the transfer’s details, a pop-up will appear requesting the following details:

• The source of funds – e.g. employment, savings, rental, sale, etc.;
• The period in which the funds were accumulated;
• Additional information – counterparty, type of document, or other, based on the source of funds.

Keep in mind that it’s mandatory to complete the declaration in order to send the transfer.