How to pass KYC (Know Your Customer)

Financial services ask their clients and investors to use only real data and verify their identity with documents, following the KYC/AML requirements of the international regulators.

We save your time by simplifying and speeding up this process as much as possible. All we need is two or three minutes of your time and a couple of photos.

Below, you can find a step-by-step guide on how to pass KYC , outlining the main stages of the verification process and providing a description of the most common mistakes. Everything has been engineered to help you pass the Know Your Customer procedure as quickly and as simply as possible.

Step 1.

Click “Start” and follow the instructions on the screen.

First, you will have to check and accept our privacy terms and give consent to the processing of your personal data.

Step 2.

The second step is for the applicant to enter some general information, such as their first and last name, so that they may proceed to the proof of identity check.

Step 3.

According to the international ‘Know Your Customer’ standards you can verify your identity with any official government document — ID-card, passport driving license, etc. After taking a photo of your document, please send us the pictures, using the form.

First, choose your country.

Then, choose your ID type and upload the photos of your document.

What is important to note when you take a photo:

All corners of the document should be visible in the photo.
The text in the document should be easy to read. Make sure there are no highlights and stains on the photo. Low quality pictures won’t be accepted by the system.
If your document has two pages or two sides (for example, a US ID-card or a CIS passport), both sides / pages must be attached.
The document must have been for at least a month. An expired document won’t be validated.
The system doesn’t accept documents corrected in graphic editors.
We accept JPEG or PDF files, no less than 500 KB.
In some cases, the document has to have Latin transliteration.

Important KYC rules for South Korea:
Please carefully cover all sensitive information as is shown below in red (do not edit photos digitally, please use only physical objects such as sticky notes).

Step 4.

Now we need your selfie with the same document. That’s how we can confirm that the document belongs to its owner. At this stage the system will not accept a photo of the document, without the owner in the picture with it.

Important:

Your face should be visible both on the selfie and on the photo in the document, so that the algorithm can correctly identify your features.
The photo must be of decent quality, so that the text on the document is readable.

In some cases we may also ask you to record a quick 5-second video of yourself.

Step 5.

We are almost at the last step. AML and KYC regulations require financial services to validate the addresses of their customers. You can confirm your address with one of the following documents:

Utility bill
Bank statement
Tax invoice
Other government issued residential statements / certificates

What you should keep in mind:

If you attach a utility bill or a bank statement, they must have been issued within the last 3 months and printed on the official form.
We need to confirm your residential address ; the system doesn’t accept addresses of legal entities or relatives.
Your document must contain the full name (as in the ID), the owner’s address and the date of issue.
The system doesn’t accept orthographic ligature without a Latin transliteration. If your document is fully in Arabic, or another language with orthographic ligature, you have to make a notarized translation in English.
You must provide a photo of the whole document. None of the banks or regulators accept pieces of documents. We don’t either.
If your address is stated in your passport or driving license, you will not be able to confirm your identity and place of residence with the same document. In this case, use another document at the identity check stage — driving license, another type of passport or ID-card etc.

Step 6.

When all of the information is submitted, we kindly ask you to check it one more time for any mistakes.

If everything is correct, the only thing left is to wait for our approval.

We cannot accept in any way:

Checks
Envelopes with an address as a confirmation of your residential address
Stickers with the address on parcels as a confirmation of your residential address
Mobile phone bills
Insurance documents
Medical prescriptions, bills, invoices and other documents
Prepaid card invoices.

Make sure that your profile data corresponds with the submitted documents that are clearly visible to avoid issues. Otherwise, your application will be declined.

Good luck! Sum&Substance Team If you have any questions, please contact the support team of your service or write us at [email protected]