KYC Requirements

 

KYC stands for Know Your Customer. It is the process that verifies the identity of a client and assesses potential risks of illegal intentions of the business relationship. Meeting KYC identification requirement is mandatory under a set of legislation, including Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) Act. 

Deposit, withdrawal and trading functions will not be available until the verification process is completed. String Exchange manages KYC services via professional KYC companies to enable an efficient and timely response to customers. Please follow the steps below.

1. Accepted Identification Documents (Identification document with more than six/ 6 months validity)

Australian Citizens and Residents:

  • Passport
  • Driver’s License

International/ Non-Australian Citizens:

  • Passport
  • Proof of Address (Any proof of address documents that is in a different language other than English requires certified translation into English.) 

2. Proof of address documents must be: (issued within the latest three/ 3 months)

  • Including visible details such as your name, residential address, date of issue and document issuer;
  • Officially issued (e.g. physically mailed, electronic statements);
  • In full-page; 
  • Clear

Acceptable proof of address documents:

  • Council rates
  • Utility bill (e.g electricity, water, gas, internet, tv)
  • Landline bill (not including mobile phone bills)
  • Financial institution statement (e.g bank account, loan, credit card)

Unacceptable proof of address documents:

  • PO Box as postal address
  • Residential address and postal address are not the same
  • Owned by company (applicable for individual applicants only)
  • Unofficial documents (e.g. email alerts, online account details)
  • Mobile phone bills
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