We are required to verify your identity before opening an account. This article explains the details of this process. 

 

Understanding the KYC Process

For your protection and to comply with UK banking regulations, specifically anti-money laundering provisions, we employ the Know Your Customer (KYC) process. Our priority is to shield our customers from identity theft, financial crime, and fraud. Rest assured, any information you provide will be treated with the utmost respect for your privacy. For more details, visit our Privacy Policy.

 

Accepted Verification Documents

For your KYC submission, you can use:

• Passport
• Residence permit
• National ID card
• Driver's license

If you don't have these, you can't continue on your own. Please contact Plutus Support for help. Remember, you need one of these to show you legally live in a country we support or you can't sign up.

 

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. Try uploading your documents once more.
• Decline: Don't worry! Our Plutus Support team will take a closer look and get back to you within 48 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:

1. Name Mismatch: Ensure the name on your account matches the name on your ID document exactly.

2. Document Clarity: Always submit a direct photo of the original ID. Avoid using photos of photos or screenshots.

3. Residency Concern: Plutus doesn't support all countries. Confirm you reside in an eligible country.

The Plutus Support team proactively reviews declined KYCs within 48h, so you can just wait for our notification and we will most likely approve yours straight away.

If for any other reason you still need help, feel free to reach out directly, we will be glad to help!

 

FAQ

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.