What is the KYC verification and why is it necessary?
For Kinesis users, KYC ensures that each account holder is reviewed quickly and accurately while maintaining a complete and secure database for the user’s safety and benefits.
KYC is often required by law for institutions providing financial services to allow for conducting the Anti Money Laundering (AML) and Counter-Terrorist Financing (CTF) Policy. The process helps prevent identity theft, money laundering, financial fraud, terrorism financing, and any potentially illegal activities.
Until the Know Your Customer (KYC) check has been completed, your access to the Kinesis Monetary System will be limited.
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How to Verify an Account with Know Your Customer (KYC)?
Step 1. Creating a new account (Tier 1 Verification)
First, sign up with your email address or your Google Account and provide your personal details on the Kinesis Money sign-up page. Ensure your password is strong enough and contains at least 8 characters, including at least one upper case letter, one number and one special character.
Step 2. Email verification
Once you have signed up to Kinesis Money, you will receive an email to verify your account. Click on the link provided in the email to proceed with the verification.
If you haven’t received the email from Kinesis, you can also generate the verification email from the profile tab on the settings page within your account.
Once you have created and verified your account with an email (Tier 1) the next step to unlock the full potential of your Kinesis Money account is to pass the "Know Your Customer" authentication (KYC).
Step 3. KYC Verifying your new Kinesis Account
As you click the link in the email, you will be taken back to the Kinesis log-in screen. Use the email and password associated with your new account to access your Account in the Desktop mode on your computer:
Please note that users can also KYC-verify their identity using the Mobile App widget, without the need to access their desktop device.
While on the computer device, click ‘Account activation’ within the account Profile menu drop-down, located in the top right corner of your Dashboard, to proceed with the ID verification. The account verification shouldn't take longer than a few minutes.
You’ll be presented with two account types: Individual and Business. Select the type of account you would like to verify.
BUSINESS ACCOUNT:
For the dedicated business KYC article, guiding you through the business verification process, click here.
INDIVIDUAL ACCOUNT:
Please keep in mind that this walkthrough describes the KYC for the Individual account holders only.
Step 4. Scan the QR code to proceed via mobile device
While on your computer (Desktop mode), scan the QR code with the camera on your mobile device. It should automatically detect the link taking you to the first verification screen.
Step 5. ID Document photo page
While on your mobile device, you’ll be asked to provide your ID document and select the document-issuing country. This can be your:
- Driver’s Licence
- Government-issued ID
- Passport
Once you’ve taken a clear scan of your ID document, click ‘NEXT’ to proceed.
Step 6. Selfie photo page
You’ll be presented with a Selfie photo screen.
Click ‘NEXT’ to initiate the automatic Selfie photo capture. If necessary, you can retake the photo or manually approve it to proceed further.
Nearly there! Click ‘NEXT’ after which you’ll be asked to Go back to your computer device to finish the verification process.
Step 7. Continue verification via Desktop computer device
At this stage, your computer device (in Desktop mode) should automatically start displaying the ‘Provide your details’ screen, as shown below. If that’s not the case, please manually select the ‘ID Verification’ option within your account Profile menu drop-down, located at the top right corner of your Dashboard.
Please fill in your personal details accordingly, including your:
- Full name
- Nationality
- Date of Birth
- Gender
- Phone number
- Full Address
- Country of residence
Step 8. Proof of address
Please upload a proof of address, displaying your full name and the residential address, dated within the last 3 months. This can be one of the following documents:
- Utility bill
- Bank statement
- Government letter
- Employment contract
Step 9. Verification Processing
In most cases, your KYC verification shouldn’t take more than 5 minutes. However, in some cases, manual verification is required to ensure all details are processed correctly. This might take up to 1-3 days, however, it is usually verified within a couple of hours.
Our dedicated support team will get in touch if further information is required. Alternatively, you can contact us anytime on this page.
