Cardholder KYC Guide

Transcription

1 Cardhlder KYC Guide

2 WaveCrest, as a regulated e-mney Issuer, is respnsible fr the Knw Yur Custmer (KYC) prcess f all cardhlders as per the EU Third Mney Laundering Directive. WaveCrest currently allws all new cardhlders t lad and use the card at lwer limits befre they successfully g thrugh dcument based KYC upgrade. T keep using the card after exceeding these limits, the cardhlder needs t successfully cmplete dcument based ID verificatin. The initial status f the cardhlder prir t dcument-based ID verificatin is referred t as KYC1 status; the cardhlder s status after successfully passing the dcument-based ID verificatin is referred t as KYC2 status. Dcuments Required fr KYC upgrade frm KYC1 t KYC2 WaveCrest requires an ID dcument (Prf f Identity POI) and an address dcument (Prf f Address POA) as belw: Prf f Identity(POI) 1. A gvernment issued, unexpired, identity dcument shwing a phtgraph f the hlder, such as a passprt, natinal identity card r driver's license Prf f Address(POA) 1. Gas r Electricity bill shwing name and address in a frmat where the gas r electricity prvider's details can be checked nline (i.e. lgs, bill frmat's etc) 2. Fixed line / Bradband / Cable utility bill shwing name and address and meeting the same standards as abve pint 1 3. Driver's license / permit, in a pht card frmat (i.e. like an identity card) which shws the persn's name and address (i.e. like thse issued by EU cuntries) 4. Bank statements, again meeting the requirements f Pint 1. Nte that pay-in slips / mney exchange receipts are nt acceptable 5. Bank welcme letters cnfirm the pening f a bank accunt 6. #Gvernment issued Tax Returns r Tax Cnfirmatin letters 7. *Gvernment Benefits payment statement r ntice 8. *Bank lan dcuments 9. *Gvernment cuncil hme rental agreements 10. *Gvernment / Lcal Cuncil issued utility bill fr Cuncil Tax / Sewage / Waste / Refuse services 11. *Captain's Letters. This is nly t be used fr a persn wh states that they wrk n a vessel such as a yacht. Needs t shw the name f the vessel, prt f registry, and registratin number * This need t be within 3 mnths f age # These letters are valid fr a year Plicy fr Dcuments in Languages ther than English and Spanish 1. WaveCrest accepts riginal dcuments in languages ther than English (this applies fr Latin characters sets nly), s lng as WaveCrest can translate them using internal tls. Page 02

3 2. In cases where Wave Crest is nt able t translate the dcument internally, WaveCrest may revert with a request t have the dcument translated. 3. Dcuments with nn-latin characters a. WaveCrest accepts nly internatinal passprt which has Latin character set in additin t natinal language. b. Fr address purpses WaveCrest accepts lcal nn-latin character sets s lng as they have the relevant data translated and attached, i.e. name and address and title f dcument. This may be in the frm f attached r verlaid labels and texts. KYC Upgrade Prcess T use the card at KYC2 limits, cardhlders will need t have cmpleted the ID verificatin and been upgraded t KYC2. The upgrade request can be dne upfrnt as sn as the card is created by the Business Partner; this avids the cardhlder being impacted by the lwer limits. Alternatively, the request can be initiated by 1. The cardhlder r 2. The Business Partner at any time after the card is created. 3. If the cardhlder hits the limits allwed fr KYC1 while they are still in KYC1, the card will be blcked until the cardhlder is successfully upgraded t KYC2. When the card is blcked the Business Partner will be ntified via WaveCrest Partner Supprt tl (Fresh Desk) and the cardhlder will be ntified by t their address n file. Hw t Submit KYC Upgrade Request & Dcuments A. Business Partner-Initiated KYC Upgrade Request Business Partners can submit the request and the required dcuments in tw ways 1. API Call This is the preferred methd fr all API-integrated business partners. Business partners will have t use Upgrade KYC API t send cardhlder details and dcuments fr KYC upgrade. 2. Business Partner Prtal - Business partners can uplad dcuments n behalf f cardhlders n the Business Partner Prtal under Manage Cardhlders >> View Cardhlders. On View Cardhlder page, business partners can uplad cardhlder POI and POA via Uplad dcuments n behalf f cardhlders. On submissin f the dcuments a Reference ID will be generated. Fr any queries related t KYC upgrade f any specific cardhlder, the business partner shuld qute this Reference ID fr quicker reslutin frm the Custmer Service Team. Business partner will als be able t see the status f the dcuments that have been upladed. B. Cardhlder-Initiated KYC Upgrade Request Cardhlders can submit the request and the required dcuments (POI & POA) thrugh Cardhlder Prtal/WaveCrest Accunthlder Prtal (WAP) by using Upgrade Accunt buttn after they lgin t their accunt. On submissin f the Page 03

4 dcuments a Reference ID will be generated. Fr any queries related t KYC upgrade, the cardhlder shuld qute this Reference ID fr quicker reslutin frm the Custmer Service Team. Apprval Prcess Once the dcuments are upladed, they are prcessed by WaveCrest. On successful verificatin f dcuments, 1. The Cardhlder is upgraded t KYC2 2. Accunt limits are instantly increased t KYC2 levels 3. The Cardhlder is ntified by t their address n file. i. Business partner can see the KYC status and dcument status f the cardhlder under View Cardhlder ptin n the Business Partner Prtal. A separate ntificatin appearing n the Business Partner Prtal is als in develpment and will be deplyed when ready ii. Business partners that hst their wn cardhlder servicing website and using API integratin with WaveCrest fr cardhlder servicing: Cardhlders are nt ntified directly by WaveCrest. Instead, the Business Partner is ntified by JSON alerts. These Business Partners can send ntificatins t their cardhlders based n the alerts. Business Partners can als view see the KYC status f the cardhlder under View Cardhlder ptin n the Business Partner Prtal. 4. In case dcuments are rejected due t any reasn, partners / cardhlders must uplad additinal and relevant dcuments t cmplete their verificatin. Cardhlders will be ntified via and Business Partners will be able t see the KYC status and status f the dcuments n the business prtal. Re-uplad f dcuments frm either channel creates a new alert fr the WaveCrest dcument team t verify. Prcessing Timeline WaveCrest has an SLA f up t 5 business days befre respnding t any KYC upgrade requests, althugh they try and respnd earlier than this. Please nte that this timeline des nt include pssible rejectins and resubmissins. Page 04

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