KYC & AML Policy
Prior to funding or executing withdrawals, all Retail Parity Access tier accounts undergo verification. This document outlines the verification procedures, approved documentation types, processing timeframes and your obligations.
- Identity checks on every account
- Documents handled confidentially
- Ongoing transaction monitoring
On this page
- What KYC means
- What AML means
- Why verification is required
- Accepted documents
- Verification steps
- How long it takes
- Why a check can fail
- Ongoing monitoring
- Your obligations
- Questions
What "Know Your Customer" means
Know Your Customer (KYC) represents the standard procedure by which financial institutions authenticate that a client exists as an identifiable individual and that data submitted during account setup is correct.
At Retail Parity Access tier, our KYC implementation involves gathering and verifying essential personal information: your complete legal name, birth date, residence country, communication details and your chosen payment instrument. We validate the information entered during account creation against the documentation you submit.
What we do not do
We do not ask for your online banking password, your full card PIN, or remote access to your device. No member of our team will ever request those. Any message that does is not from us and should be reported through the abuse form.
What "anti-money laundering" means
Anti-money laundering (AML) comprises the compliance mechanisms a financial institution implements to ensure its services cannot be exploited for criminal proceeds, unlawful transactions or obfuscating source of wealth.
AML systems extend beyond simple identity verification. They encompass account risk assessment, sanctions and politically-exposed-person checks, thresholds for irregular deposit activity, documentation retention, internal flagging of questionable transactions and, where mandated by regulations, disclosure to appropriate regulatory bodies.
Where AML rules and a client instruction conflict, the AML rules take priority. That can mean a delayed transaction, a request for additional documents, or a restricted account until the matter is resolved.
Why verification is required
- 01
Legal obligation
Services that hold or transmit client funds are generally required to identify their clients before providing the service. This is not optional and applies to every account without exception.
- 02
Protecting your money
Verification ties an account to one identifiable owner. It makes account takeover far harder, and it means withdrawals can only be sent back to a payment method proven to belong to you.
- 03
Keeping the platform clean
Screening prevents blacklisted entities and opaque corporate structures from accessing the platform, thereby safeguarding all other users.
- 04
Faster payouts later
An account verified up front does not have to stop for checks at withdrawal time, which is when delays are least welcome.
Which documents are accepted
We ask for up to three categories of document. Files should be colour images or PDFs, fully in frame, unedited, with all four corners and all text legible.
1. Identity document
A government-issued document that shows your photograph, full name, date of birth, document number and expiry date. Commonly accepted types are a passport, a national identity card, or a driving licence where it is issued as a photographic identity document. The document must be valid and not expired.
2. Proof of address
A current document, normally dated within recent months, displaying your name and home address matching your registered account details. Standard documents include utility bills, financial institution statements, government tax correspondence, municipal paperwork or authorization letters from state bodies. Mailing addresses and third-party residences are not permitted.
3. Proof of payment method
Evidence that the funding instrument belongs to you. For a card, that is normally an image of the card showing your name, the first six and last four digits and the expiry date, with the remaining digits and the security code covered. For a transfer from a bank account, that is a statement or confirmation in your name showing the account identifier. For an electronic wallet, a screenshot of the account profile showing your name and the account identifier.
Formats and file size
Upload limits, accepted file types and any additional document requests are shown in the verification area of your account. Documents in a language other than the account language may require a translation; the compliance team will tell you if that applies.
The verification steps
- 01
Register
Create the account with your real legal name, date of birth, country of residence, email and phone number. Details that do not match your documents are the most common cause of delay.
- 02
Confirm contact details
Confirm your email address and, where requested, your phone number. This proves the contact channels belong to you.
- 03
Upload your identity document
Upload the pages that carry your photograph and personal data. Some checks include a short liveness or selfie step to confirm the document belongs to the person holding it.
- 04
Upload proof of address
Upload a recent qualifying document in your name at the address on file.
- 05
Confirm the payment method
Provide proof of the instrument you will use to fund and to receive withdrawals.
- 06
Screening and review
Our compliance specialists examine the submission, execute necessary sanctions and risk assessments, and subsequently authorize the account or request amendments.
- 07
Confirmation
You receive a notification once the account status changes. The current status is always visible in the verification area of your account.
How long a check takes
Most complete submissions are reviewed within a few hours to a couple of business days. Files that need a second look, a translation or an additional document can take longer.
Review times depend on volume, on the quality of the uploads and on whether any additional screening is triggered. The processing window that applies to your account, together with the current status of each document, is shown in your account area - that published figure is the one to rely on, not any figure quoted elsewhere.
- Legible, comprehensive, unaltered submissions receive expedited processing.
- Requests submitted outside business hours are queued for the next working day.
- Heightened scrutiny, when applicable, lengthens timeframes and notification will be provided.
Why a check can be rejected
A rejection is usually a document problem, not a judgement about you. In most cases you can simply re-upload and the account is approved on the second attempt.
| Reason | How to fix it |
|---|---|
| Image blurred, cropped or glare-covered | Re-shoot in daylight, flat on a dark surface, all four corners visible. |
| Document expired | Upload a currently valid document. |
| Name or date of birth does not match the account | Correct the account details, or explain a legal name change with supporting proof. |
| Proof of address too old or not in your name | Submit a current acceptable document delivered to your account address. |
| Payment method belongs to a third party | Use an instrument in your own name - third-party funding is not accepted. |
| File edited, cropped to hide data, or a screenshot of a screen | Upload an unaltered true copy or PDF format. |
| Residence in an excluded jurisdiction | The account cannot be opened; see our licensing page for the general position. |
Should a determination seem ambiguous, reach out to customer service to request clarification. Where regulations permit, reasoning will be disclosed.
Ongoing transaction monitoring
Verification constitutes an ongoing process. Ongoing observation of accounts and activity continues throughout the entire business relationship.
What is monitored
Funding and withdrawal patterns, changes of payment instrument, changes of country or contact details, activity that does not match the profile you gave at sign-up, and any activity flagged by our screening tools.
What can happen as a result
- A notification requesting current paperwork or justification regarding fund origin.
- A provisional suspension of a particular transaction under examination.
- Modification of the thresholds displayed in your profile.
- Suspension or termination of the account as mandated by regulations.
Records
Customer identification records and transaction documentation are maintained for periods specified by applicable regulations following relationship termination, compliant with our Privacy Policy. In certain circumstances the law prevents us from telling a client that a report has been made.
Your obligations
- Give accurate, current and complete information, and keep it up to date.
- Use only your own funds and your own payment instruments - never someone else's.
- Keep one account only, and keep your credentials private.
- Respond to document requests within the timeframe stated in the request.
- Tell us promptly if you change country of residence, legal name or payment method.
- Report any suspected unauthorised access to your account immediately.
Submitting falsified or altered documents is a serious matter. It leads to closure of the account and, where applicable law requires, notification of the competent authority.
Where to ask questions
Should any aspect of this page prove uncertain, or to check your own verification progress, contact us before submitting additional documentation.
Who reviews my documents?
A trained compliance reviewer. Files are stored on restricted systems, and access is limited to staff who need it for the check.
Can I start before I am verified?
You can register and explore the account, but funding, trading and withdrawals depend on the verification status published in your account.
Do I have to verify again later?
Possibly. Credentials have expiry dates, residential details evolve and routine document renewal constitutes standard AML procedure. Notification will follow if refresh becomes necessary.
How do I contact the compliance team?
Use the contact route on our contact page and reference "KYC" or "account verification" within your inquiry, providing your registered email. Avoid transferring document files via unprotected methods - utilize the secure upload feature instead.
Get verified once, cleanly
Roughly four-fifths of processing delays stem from identical causes: low-quality images, outdated address proof and payment methods registered under another individual. Correcting these issues results in first-attempt approval for the majority.
Need help with a document?
The support team will specify which document was declined and the corresponding reason.
- Check the verification area of your account first.
- If you need assistance, reach out to our support team using the email address associated with your account.