We are required to verify your identity before opening an account. This article explains the details of this process.
Understanding the KYC Process
Accepted Verification Documents
For your KYC submission, you can use:
- Residence permit
- National ID card
- Driver's license
Please note, you need one of these to show you legally live in a country we support or you can't sign up at all.
How to Complete the KYC Process
After you have started with the account creation (guide here), you will be prompted to complete our KYC process. This is what it looks like:
You're not limited to using a smartphone. You can also complete the process on our website using a webcam. Just choose the corresponding option at the bottom.
Next, follow the on-screen instructions to capture clear photos of both your document and your face for identity verification.
Once your documents are submitted, our system will evaluate your KYC information and provide a response based on one of the predefined outcomes.
- Approval: Everything looks good! You're all set to finish the signup.
- Reset: A minor issue popped up. Double check your ID and try uploading once more.
- Decline: Don't worry! Our Plutus Support team will take a closer look and get back to you within 72 hours via email. It will probably just be approved manually right away.
Why Your KYC Might Fail & How to Fix It
While most KYC applications are approved automatically, some may encounter hiccups. Here are frequent reasons for these setbacks and ways to address them:
Name Mismatch: Ensure the name on your account matches the name on your ID document exactly.
Document Clarity: Always submit a direct photo of the original ID. Avoid using photos of photos or screenshots.
Residency Concern: Plutus doesn't support all countries. Confirm you reside in an eligible country.
The Plutus Support team proactively reviews declined KYCs within 72h, so you can just wait for our notification.
If for any other reason you still need help, feel free to reach out directly, we will be glad to help!
I have been asked to verify again my identity, but I just did it recently, is it a bug?
We do re-verifications for security on a periodic basis, to be in Compliance with the industry's best practices. It doesn't mean anything went wrong with your previous verification, it's just to ensure our verifications are updated and in order.
Can I open a Plutus Account without passing identity checks?
No. In order to protect our customers and our company from fraud and other malicious activities, and to ensure complete regulatory compliance, all Plutus Account holders must have passed our identity checks.
I've followed all your advice and my application still got declined. What do I do?
If you're having problems passing our onboarding process and have followed all the tips in our guide, please don't hesitate to reach out to our Customer Service team for help.