TELA allows you to start managing your business without completing KYC verification immediately.
When you create an account, you can use TELA as a Tier 1 user without KYC. As you complete verification, your account can be upgraded to access additional financial features, including a dedicated TELA account number.
What Is KYC?
KYC (Know Your Customer) is the process of verifying your identity to help:
Confirm the identity of business owners
Prevent fraud and impersonation
Protect users and customers
Support secure transaction processing
Meet applicable regulatory and compliance requirements
TELA uses KYC information to verify your identity and provide access to features that require additional verification.
TELA Account Tiers
TELA currently supports different levels of access depending on your verification status.
Tier 1 — Start Without KYC
You can start using TELA without completing KYC verification.
With a Tier 1 account, you can:
Create and manage your business
Add and manage products
Manage inventory
Record sales and expenses
Manage customers
Create and share your storefront
Receive orders through your storefront
Use business management tools
Access available reports and business insights
Use other features available to Tier 1 users
No KYC is required to get started.
What is not available on Tier 1?
The main limitation for Tier 1 users is that a dedicated TELA account number is not created for the account.
If you want a dedicated account number and access to features that require identity verification, you will need to complete KYC.
Tier 2 — Complete KYC
Completing KYC upgrades your account and allows TELA to provide additional financial functionality.
To complete KYC, you may be required to provide your:
1. BVN — Bank Verification Number
Your BVN is used to verify your identity and help protect your account against fraud.
BVN verification may be required for features involving dedicated financial accounts and transaction processing.
2. CAC Registration — Optional
If you operate a registered business, you may provide your CAC details, including:
CAC registration number
Registered business name
CAC information helps TELA associate your registered business with your account.
CAC registration is not required for every user to complete KYC.
What Do I Get After Completing KYC?
After successful verification, your account can be upgraded to the appropriate verified tier.
Depending on your account and the features available to you, this can include:
A dedicated TELA account number
Access to additional financial features
Increased transaction functionality
Business identity verification
Additional features that require verified account information
TELA may introduce additional features for verified users over time.
Do I Need KYC to Use TELA?
No.
You can create an account and start using TELA without completing KYC.
You will initially have access as a Tier 1 user.
However, if you want a dedicated TELA account number, you will need to complete the required KYC verification.
How to Complete KYC
When you are ready to upgrade your account:
Log in to your TELA account.
Open Account Settings.
Select Verification.
Enter your required verification details.
Submit your information.
Wait for verification to be completed.
Verification may take approximately 1 minute, depending on the verification process.
Is My Information Safe?
TELA takes the security of your personal and business information seriously.
Your verification information is:
Securely handled
Used for verification and applicable compliance purposes
Protected using appropriate security measures
Not publicly displayed on your profile
TELA works with appropriate technology and financial service partners where required to support secure verification and financial services.
What Happens If I Don't Complete KYC?
Nothing prevents you from continuing to use TELA as a Tier 1 user.
You can continue managing your business and using the features available to your tier.
However, you will not have a dedicated TELA account number until you complete the required verification.
You can complete KYC at any time when you need access to the additional features available to verified users.
Need Help With Verification?
If you experience problems during verification:
Make sure the information you provide is accurate.
Ensure your BVN details match your identity information.
Check that your CAC information is entered correctly if you are providing it.
Make sure you are using the latest version of the TELA app.
Contact TELA Support if the issue continues.
You can start using TELA today without KYC and complete verification when you're ready for additional features.