Know Your Customer (KYC)
How does the identification process work?
As part of the registration process, you will be asked to verify your identity. You can do this from the comfort of your own home using our video identification process. To do this, you will need a valid ID document, a stable internet connection, and a cell phone to receive an unlock code via SMS. Identification is carried out by means of an online video conference via smartphone or webcam (on PC). You start the conference by clicking on the button "Start video chat". You will then be connected to our partner IDnow, who will identify you using your identification document and guide you through the process.
What is the purpose of the identification process?
Under the Money Laundering Act, all financial service providers are required to verify the identity of their customers. This serves to prevent money laundering, terrorist financing and other criminal acts.
What does Know Your Customer (KYC) mean?
According to the Money Laundering Act, financial service providers are required to comply with certain due diligence obligations. These due diligence obligations are intended to contribute to the prevention of money laundering, terrorist financing and other criminal acts. The so-called KYC comes from the English and means Know Your Customer. The KYC principle or KYC check is a process prescribed by law that is used primarily by banks and other financial service providers when registering new customers or before or during the conclusion of a business transaction with them in order to verify the identity of the customer.