What is KYC?
Know your customer (KYC) is a process used by banks to authenticate the identity of its clients. This procedure is used to ensure bank services are not being misused and to prevent identity theft, financial fraud, money laundering, and the financing of terrorism. This is required by European law and our payment provider: MangoPay.
When do I turn in KYC identification documentation?
Before withdrawing your payments from inzpire.me, you'll first need to undergo the KYC process and offer some additional information to verify your identity.
How do I start the KYC process?
You can start the process by clicking on Wallet in the sidebar menu. Under KYC Verification Required, select Start Verification.
As a business you'll have a separate legal entity, and your business is liable for any debts.
As a Business, you'll be required to submit:
- Proof of identity: Scan your ID card (front & back), passport, driver's license, or residence permit.
- Company number: Type in your company number, which is given to you by your state authority.
- Date of birth: Select your date of birth from a dropdown.
- Articles of Association: Submit a legal document that specifies what your company does, defines your company's purpose, and explains how your company is run.
- Ultimate beneficial owners (UBO) declaration: This refers to shareholders who own more than 25% of capital or voting rights in your business. Fill in the form in the UBO step. You'll be asked for your Full name, Country, Address, Nationality, City of Birth, Country of Birth, and Date of Birth.
Once you upload the necessary documents, click Submit Verification Request. Your request will be reviewed and processed within 72 hours.
Once your identity is verified by our payment provider, you'll be able to request a payout as you would normally.
Is this process safe?
When you send information to complete the KYC process, your data is not stored on inzpire.me. It's stored with our payment provider, MangoPay, who is an EU licensed and regulated financial institution.
MangoPay has security measures in place, which includes encryption and other measures, to guarantee the confidentiality and security of your data. You can read more about how your data is secured here: https://www.mangopay.com/privacy/
Any questions? Feel free to send us a chat!