How do I verify my ID to top up my balance?

  • Updated

When using payment services to top up your Funrise balance you need to undergo the identity verification procedure, a.k.a. KYC.

In practice, this means that you need to work with the payment service to verify your identity. Very often they are able to complete the whole KYC identity verification process using just your bank account data via an open API. This process takes seconds, and no ID is required.

Payment services try to keep formalities to the necessary minimum but in some cases, they are legally obliged to perform an extended KYC procedure (for example, if requested by their banking partners); therefore, sometimes a more traditional account verification is necessary. This one-off verification procedure whitelists the account for all future transactions. Provided that the required documents are complete and in order, the verification process may take from 10 minutes up to a business day.

To get verified, you will need to provide payment service with the following:

A high-resolution photo of a current government-issued ID (like a passport or a national identity card). The submitted image requirements include:

- a color image (black and white, watermarked, etc. are not accepted)
- all information on the ID must be completely clear and readable; some providers
does not accept IDs that are torn or worn out
- the edges of the ID document must be clearly visible on a contrasting background.

A current selfie while holding the same ID:

- it must be the same government-issued ID you’ve submitted
- must be fully clear and readable.

A valid proof of residential address i.e. a document that carries your name and address; it can be:

- a bank statement; this may be checked using AIS service
- a debit or credit card statement
- a utility bill (water, electricity, gas, internet, phone)
- a payslip, payroll statement or a similar document from your current employer
- an insurance statement
- tax paperwork
- a residence certificate