In the world of financial services, everyone must do their bit to protect the banking system against financial crime. In line with our regulators the FCA (Financial Conduct Authority) and UK Government guidelines all authorised firms must have systems and controls in place to mitigate the risk that they might be used to commit financial crime. This could be money laundering, fraud, identity theft or terrorist financing to name a few.
To do this it is our responsibility to carry out customer due diligence checks when prompted by our payment providers. This additional information is on top of the standard KYC (know your customer) checks that are automatically carried out when you sign up. We appreciate that this can be inconvenient and lead to delays in withdrawing your funds but to put it frankly, it’s the law and Chip must comply with failure to do so risking fines for the company and legal consequences for our employees.
•••
To speed things up please ensure the ID document supplied meets the following criteria.
UK Driving license must include BOTH sides of the card and be sent in a clear, high quality and uncropped image.
Passports must include the ENTIRE photo page sent in a clear, high quality and uncropped image.
Scans are not accepted - it must be a photograph
These requirements must be adhered to as we run your ID through our verification partner (Onfido) for approval with rejected documents causing delays to the process.
We really appreciate your cooperation, patience and understanding while we do this and we will work as quickly and diligently as we can to get these checks completed in a timely fashion with the minimum of disruption.