This guide simplifies the process of establishing a Plutus Account. Dive into the eligibility standards, setup steps, and common queries.
Before proceeding, review the following criteria:
- Residency: Applicants should reside in the UK or the EEA.
- Age: The minimum age requirement is 18 years.
- KYC Verification: An essential step is the KYC (Know Your Customer) verification.
For specifics, our Terms and Conditions are a comprehensive resource.
Account Setup: A Step-by-Step Guide
Registration: Choose your preferred platform for sign-up:
- Credential Setup: Set up an email and password for your account.
- Reminder: Store your password securely. It's essential for accessing your account later.
- Personal Information: Fill in your information.
- Name: Enter it exactly as it's shown on your official ID, including middle names. If the name added doesn't match, the KYC verification will fail in the next step, which will add a delay in your signup process.
- Address: Type it clearly, avoiding special characters. For best results, cross-reference with Google Maps to ensure its accuracy.
- Phone Number: This is essential for SMS transaction confirmations. Please ensure it's current and active.
- Identity Verification: Pass the KYC verification.
- Proceed with the KYC (Know Your Customer) process. If there are any hitches and your KYC doesn't pass immediately, don't worry. We will check it proactively within 48 hours and manually approve it, which will include notification via email so you are aware. If we need any additional information, we will reach out to your email about it.
- Activate Your Account: Do a fiat deposit.
- You'll receive details for your associated Modulr bank account. Use this information to deposit funds and activate your account. While the minimum initial deposit is 20 EUR/GBP, you can do a bigger deposit if you want.
- Set Up Your Virtual Card: Add your security question.
- For added security and accessibility, define a security question. Once set, you'll be able to access your Plutus Virtual Card.
That's all, welcome to Plutus!
Can I have two Plutus Accounts or share one with another person?
Each individual is limited to a single Plutus Account, and these accounts are for personal use only. This means no sharing or joint accounts, ensuring a straightforward and secure experience for everyone.
I'm a freelancer or have a business. Can I use a Plutus Account for my business activities?
Currently, Plutus Accounts cater exclusively to individual, non-business needs. However, good news! We're planning to introduce business-centric accounts in the future.
Is it possible to open a Plutus Account without undergoing identity verification?
No. Identity verification is crucial for the safety of both our valued customers and Plutus itself. This step helps prevent fraudulent activities and ensures we adhere to all regulatory requirements.
I followed the guidelines, but my application was declined. What's the next step?
We're sorry to hear that. If you've adhered to our guidelines but faced an issue, our dedicated Plutus Support team. Please get in touch, and we'll do our best to resolve the matter.