Questions tagged [know-your-customer]

Know your customer (KYC) is the process of identifying and verifying the identity of clients.

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Does the customer have obligations under Know Your Customer?

I have a credit card with a Canadian bank that I do no other business with at all - no accounts, no loans, no investments. They sent me a letter asking me to confirm that all the salient details are ...
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When were KYC questions introduced in the EU?

The Wikipedia page on KYC doesn't provide that information. I believe it happened a few years after 9/11 so it is hard to google — all results I get are much more recent. Specifically, I am interested ...
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Don't KYC - is it legal/legit to have a crypto card without KYC checks?

I recently found out about this service, called "Don't KYC" that has its own cryptocurrency promises to provide customers with cryptocurrency Visa/Mastercard debit cards (i.e. charge your ...
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Will U.S brokers accept a utility bill as a proof of residency if it is not registered in my name?

Will U.S brokers accept a utility bill as a proof of residency-address (when opening account) if it is not registered in my name?
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Is it common practice to fill a KYC questionnaire for a P2P lending service?

I am using a P2P lending platform since about a year ago. When Coronavirus pandemic started, they freezed all the withdrawals and deposits from the investors (me). So I haven't been able to withdraw ...
Snow's user avatar
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How does the Up bank KYC work?

I recently signed up for Up bank. The process went like this: Go to to the website, download the app to your phone. Enter your phone number. Enter the SMS-sent verification code. Enter your ...
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UK limited company buying UK real estate: KYC and AML requirements

The situation is the following: Our family has setup a structure of companies to manage our investments into real estate. There is ACME Limited, a UK limited company properly registered in the UK, ...
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Is KYC information placed in a global database like bank accounts?

When I open a bank account or credit card, it is instantly accessible nationwide just like a credit report. What about opening an exchange account and filling out KYC information in the U.S. or ...
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How long does a bank's "Know Your Customer" (KYC) process typically take?

When opening a U.S. bank account, the bank will investigate about the account owner, and this investigation is called 'Know Your Customer.' The goal is to prevent money laundering. My question is: ...
simo's user avatar
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Why does my bank suddenly need to know where my money comes from?

Today, I went to my brokerage account at Wells Fargo and the page said that online trading was suspended. I called them and the rep. said, "We need to know where your money came from." This is an odd ...
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