We’re a regulated financial services provider, so we’re required to do due diligence on all our customers to make sure we know who is using our services and for what purpose.
As part of this, we carry out ‘know your customer’ (KYC) checks. We collect essential information from customers to verify their identity before or during the process of entering into a new business relationship.
What is KYC?
KYC is a process used to verify the identity of customers. It helps ensure compliance with regulatory requirements and supports secure and transparent business operations.
How do we conduct KYC?
We have a comprehensive KYC process that requires our customers – both individuals and businesses – to give us certain information such as their name, address, and government-issued identification documents. We use this information to verify the existence and purpose of the business and to verify the identity of the individuals linked to the business.
For KYC verification we will use digital identification services where applicable. It's a verification questionnaire that you need to complete, divided into two parts:
The first part is a screen requesting the legal representative personal information.
The second part is a flow for the legal representative to verify their identity.
Please note: To complete the KYC process, you need to enable camera permissions in your phone’s settings to upload documents or take selfies.
What documents do we need?
As part of the KYC process, you will be required to submit :
Valid Proof of identity and Proof of address:
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Proof of ID: A government-issued ID or passport.
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Proof of Address: A utility bill or bank statement dated within the last 3 months.
Proof of Business Activity
To verify your business, please provide one of the following:
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A link to your website or an online advertisement
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A business utility bill, a statement from a previous provider, or an invoice addressed to the business name or business owner. Alternatively, an invoice issued to one of your customers for products or services provided is also acceptable.
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A lease agreement for your trading address or store location, signed by both you and your landlord. This document can be older than three months. For wholesale businesses or those selling goods at events, an agreement for the rental of your stock storage space (e.g., warehouse) is also acceptable.
Note: The trading name and trading address must match on all submitted documents. Additionally, documents should be dated within the last three months.
What do you need to do?
As our valued customer, you play an important role in our KYC process. To help us maintain the integrity of our services and prevent financial crime, we ask you to:
- Provide accurate information: please provide us with accurate and up-to-date information about yourself to help us verify your identity.
- Cooperate with our KYC procedures: please cooperate with our KYC procedures and provide us with any additional information or documents that we may request.
- Report any suspicious activity: if you notice anything suspicious or unusual when using our products (for example, if you see transactions that you don’t recognise), please report them to us immediately.
When you receive a request to complete a KYC verification, the first step you will need to do is to log in with your Teya ID credentials. This will give you access to the required KYC questionnaire.
Once you are logged in, provide all the needed details and follow the on-screen instructions. Upon successful completion of the KYC questionnaire, a confirmation of its submission will be displayed on the screen.
Important: all information provided as part of the KYC process is used and stored under data protection laws.
What to Expect Next?
Once you submit your documents and information, our team will review everything within 24–48 hours.
If we need any additional details or documents, the relevant department will reach out to you directly via email. The outcome of the review, in line with our Terms & Conditions, will also be communicated by email.
Please note: If you begin processing transactions before completing the Know Your Customer (KYC) requirements or while we are still awaiting further documents, your payouts will be temporarily held. Funds will be released the day after your account setup is fully complete or according to your regular settlement cycle.
If you have any questions or concerns, please don’t hesitate to contact our Customer Support team.