Penetration testing and cyber defense

How to verify Fyatu account – KYC verification

5 min read
fyatu account verification kyc

Hello everyone, welcome to this article about how to verify a Fyatu account (KYC verification). In this article, you will discover how to proceed to verify your Fyatu account and be validated easily in less than a few minutes. Know Your Customer (KYC) requirements are a set of principles and procedures designed to help organizations verify the identity of their customers in order to prevent money laundering, terrorist financing, corruption, bribery, and other illegal activities. In many countries and sectors, KYC regulations have become standard practice for businesses that interact directly with customers. Some institutions even require companies to conduct a KYC check before opening an account for them.

It’s critical to comprehend why KYC is required, what exactly it comprises, and how to complete the procedure as quickly as possible, whether you’re opening an account with a new bank or even registering for a free service on an app. All the information you require about KYC will be covered in this post.

What is KYC and how verification errors can be avoided?

fyatu kyc verification

One of the cornerstones of the commercial relationship between a company and its clients is client knowledge. It depends on adhering to rules that allow for the verification of the client’s identity, address, and the subject of the commercial relationship in order to build trust. In the banking environment, the KYC verification procedure and the regulatory responsibilities that follow are tools for fighting online fraud, money laundering, and terrorism financing (together known as AML/CFT). Online verification systems that streamline numerous manual processes are frequently unreliable and therefore unreliable.

While all business sectors are affected by potential identity theft, the financial and banking sectors are leading the way, especially due to the sensitive nature of the transactions they handle. physical. Trusted financial transactions over €250 (or total transactions over €2,500 in a calendar year) rely on necessary but time-consuming verification procedures.

In France, the Regulatory and Controlling Prudential Authority (ACPR) holds banking and insurance groups accountable and can impose penalties for non-compliance. Sanctions totaling €7 million (compared to €10 million in 2020) To carry out these checks, ACPR recommends establishing KYC verification procedures. While these processes are complex and manual, solutions exist to comply with standards without compromising customer engagement. But first let’s see what the KYC process is.

What is KYC control, exactly?

KYC verification is mainly based on identifying and verifying the identity of the customer or user. If the company is legally insured in the KYC process, the customers are also covered, which ensures that they are contracting with a trusted party. By verifying that the customer is who he claims to be, the company can then grant him access to various offers. There are several methods to verify a person’s identity as part of a KYC check:

  • Verification of identification documents (such as a driver’s license, passport, or identity card)
  • Verification of certified documents
  • Visually enhanced by conference
  • Biometric control Verification of safety

How to verify your Fyatu account – KYC verification

Because you cannot trasact in Fyatu without verifying your account and confirming your phone number. KYC verification is mandatory for all Fyatu users, so to fix it and avoid trouble for you, let’s see how. So, before you have to verify your account, Fyatu requires you to complete your profile first to get access to KYC verification.

Here is the information you need to fill in:

  • Phone number
  • Nation City / Town
  • Full address
  • ZIP code
  • Date of birth
  • Gender

This is a list of information that needs to be completed before proceeding with KYC verification. When opening your account, Fyatu only asks for your first and last name, email address and password. So to complete your profile, go to your profile or your account settings, as shown in the following figure.

Then, once you’re in your account or profile settings, you’ll see the information below.

As you can see in this picture, I have filled in all the information that needs to be completed to be ready to proceed with KYC verification. Then, once you’ve finished filling out your profile, validate by clicking the save button.

For people living in countries where the postal system is not efficient, please enter a 5 digit number like 00000, 123 5, etc.

One more thing to fill in is your profile picture, it’s required, but you don’t have to put your own face, you can put any picture you want.

Then, after updating your profile picture, you can proceed with the KYC verification.

You may also like to know How to Reset a Fyatu Account Password

KYC verification of Fyatu account

Well, once you have finished filling in the profile information, in the menu, go to KYC verification.

As soon as you click on KYC verification, the screen shown in the following figure will appear.

At this stage you must click on choose. To choose the type of document you have, on Fyatu you are offered the possibility of verifying your account with three types of documents of which:

  • Identity card
  • National passport
  • Driving licence.

So, to continue, you have to choose among the three which type of document you have, then you will have to send the photos that Fyatu request you to submit.

  • The part of the ID card that contains your photo.
  • The back part of your ID card.
  • Your Selfie holding your card and a paper with a mention FYATU.COM and date and time

You may also like to know How to create a virtual credit card with Fyatu

Here, you need to submit part of your ID card that shows your photo and other information about you.

Then, you have to upload the photo that shows the back of your ID card.

Finally, you need to take a photo of yourself holding your ID card(front part that shows your picture), and a piece of paper that says and today

Example of a selfie to send without forget the paper with the mention and date and time

by filling all this information you can then send your documents to Fyatu by simply clicking the submit button.

One last thing to know, make sure you send clear photos and don’t submit expired documents, or your submitted documents will be rejected by Fyatu. The verification process takes approximately 2 hours after submitting the document. If you have any difficulty completing the KYC verification, please leave us a comment or contact Fyatu customer service department.

About The Author

2 thoughts on “How to verify Fyatu account – KYC verification

Comments are closed.

Discover more from Tgeniusclub

Subscribe now to keep reading and get access to the full archive.

Continue reading