Bity, being compliant with Swiss regulation frameworks that aims to prevent money laundering, has defined proper know-your-customer (KYC) procedures. Therefore, we request specific documentation depending on the volume you wish to unlock.
NOTE: If you want to buy, sell or swap cryptos, you can do that up to 1,000 CHF per day (KYC-less). For higher amounts, you need to get verified (full KYC).
Please note that, due to regulatory requirements, we can only onboard residents of Switzerland.
Required documents:
A copy of a valid ID. The ID should include an MRZ code and your signature. An example of the MRZ code can be found below:
To verify your residence, you can:
If at home: Use the geolocation data from your computer or phone.
If not at home: Provide proof of residence with your full name and address. Acceptable proof includes:
Utility bills: Landline telephone, internet, gas, water, or electricity bills.
Bank statements: Must clearly display your IBAN/bank account number and recent transaction history (within the past three months).
Note: All proof of residence documents must be issued within the last three months.
The 6 steps below explain the account verification process after you have created your Bity account.
Once that's done you will be able login, access your Dashboard and click on the button Individual
Once that's done, the verification process begin:
Identity (step 1/6)
You will first need to select the type and issuing country of your identity document. (please note that for legal reason only ID card and Passport are accepted)
On this page, you will need to take a photo of your identity document and then proceed.
Tip: If you choose to use a passport, you will have the option to scan the NFC chip embedded in the document (available on most biometric passports).
📲 Scanning the NFC chip can allow you to be instantly verified and skip the usual purchase order or video verification step.
However, in some cases, due to compliance requirements, you may still be asked to complete video verification, even after an NFC scan.
On the next step, you will perform a liveness check. Please follow the on-screen instructions carefully.
Residence (step 2/6)
For the next step, you will need to verify your residence address. If you are at home, you can activate geolocation. Otherwise, please provide a proof of residence document.
Financial and Professional situation (step 3/6)
This step consists of three parts and will ask you questions about your financial and professional situation.
Politically Exposed Person (step 4/6)
In this step, you will be asked to declare if you are a Politically Exposed Person (PEP). If yes, you will need to provide further information.
Confirmation of your information and Beneficial owner (step 5/6)
In this step, you will be asked to confirm that all the information you have provided is accurate and that you are the sole beneficiary of the funds associated with this account.
SMS verification (step 6/6)
Finally you will need to validate everything by validating your phone number. you will receive a code by sms and will need to enter it.
That's it! Now, all you have to do is to execute a purchase order and send us the funds from a bank account under your name . As soon as the purchase order is confirmed as executed we'll be able to upgrade your account.
Why You Might Need to Re-Verify Your Account
There are several potential reasons why you might be asked to verify or reverify your Bity.com account:
Reaching Account Limits: If your account reaches its assigned transaction or account limits, you will be prompted to complete the verification process again even if it was previously verified. This is necessary to continue using Bity.com services. Conflicting dashboard messages might also appear in this scenario, but as long as your account verification is confirmed, re-verification is generally not required unless limits are reached.
Security Updates or Regulatory Changes: Verification requests may also be triggered by periodic security enhancements or changes in regulatory requirements. In such cases, all users might be expected to reconfirm their information to align with the latest standards.
Inconsistencies in Existing Information: If there are discrepancies or missing details in your current verification data, the system might flag your account for re-verification. It is essential to resolve this promptly by updating the incomplete or inconsistent information.
regulations Reviews: Occasionally, verification reviews, such as when you place a new order, could trigger a re-verification notification. These reviews are part of the routine risk management processes in place to safeguard your account.