The KYC process request will be mandated by the platform, as per the terms and conditions. As and when the KYC is required, the users will be duly notified.

During this process, the user will have to input some basic details about themselves and then upload:

A copy of Government Issued Photo ID (in some cases front and back depending on the doc)

A selfie of themselves holding the ID doc

A bank statement/Utility Bill

Once uploaded, the user will get a “Temporarily Approved” Status and the documents will now be on our side, and the “KYC Team” will have 24hrs to go over them and email the user about the outcome:

Approval

Rejection

More information needed – No change in Status

When the user is on “Temporarily Approved” Status then

They can use the platform normally

They cannot deposit more than INR 50,000 in aggregate total

They cannot complete any withdrawal

Guideline for the “KYC Process”

Proof of ID

Signature

Country is not a Restricted Country: United States of America and its territories, France and its territories, Netherlands and its territories and countries that form the Kingdom of Netherlands including Bonaire, Sint Eustatius, Saba, Aruba, Sint Maarten, Australia and its territories, United Kingdom of Great Britain, Northern Ireland, Spain.

Full Name matches client’s name

Document does not expire in the next 3 months

Owner is over 18 years of age

Proof of Residence

Bank Statement or Utility Bill

Country is not a restricted country: United States of America and its territories, France and its territories, Netherlands and its territories and countries that form the Kingdom of Netherlands including Bonaire, Sint Eustatius, Saba, Aruba, and Sint Maarten, Australia and its territories, United Kingdom of Great Britain, Northern Ireland, Spain and Cyprus

Full Name matches client’s name and is same as in proof of ID

Date of Issue: In the last 3 months

Selfie with ID

Holder is the same as in the ID document above

ID document is the same as in “1”. Make sure photo/ID number is the same

Other AML measures

If a user has not passed full KYC then they cannot make additional deposits or withdrawals of any amount.

If a user has passed the KYC process successfully then

There is a deposit limit per transaction (max INR 200,000)

Prior to any withdrawal there is a detailed algorithmic and manual check on the activity and balance of the user to see if the amount withdrawn is a result of proper activity in the platform

Under no circumstances may a user transfer funds directly to another user