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 your Wallet on 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.
Your KYC verification process will vary depending on whether you're:
A Sole trader: You have a business, and you're personally liable for all aspects of the business, including any tax and financial debts
A Business: You have a business that's a separate legal entity, and your business is liable for any debts
What documents am I required to submit?
To verify your identity, you'll be asked to provide 2 or more of the following:
Proof of identity: This document should refer to the individual duly empowered to act on behalf of the legal entity (ie: legal representative). Approved identification types can vary depending on your location. Check the list below to see whether your identification is approved, then upload a clear scan of it.
Passports are the only approved form of identification for all countries.
For other forms of approved identification:
USA, UK, & Canada: Driver's license.
EU: Driver's license, government issued ID card (front & back), or residence permit.
Date of birth: Select your legal representative's date of birth from a dropdown.
Proof of company registration: Provide a document that certifies the registration of your company. It must have been issued within the last 3 months.
Company number: Type in your company number, which is given to you by your state authority.
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.
If you're a Sole trader, you'll be required to submit Proof of identity, your Date of birth, and Proof of company registration.
If you're a Business, you'll be required to submit Proof of identity, your Company number, your Date of birth, Articles of association, and UBO declaration.
If you're a creator from Norway, Sweden, or Finland, you can find the information required to complete the KYC process here:
When your identity is verified by our payment provider, you'll be notified by email and able to request a payout, which will transfer the funds from your inzpire.me Wallet to your connect bank account.
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.
Any questions? Feel free to send us a chat!