KYC

know your customer concept

Perhaps you’re wondering what KYC Verification is and why it’s important. Let’s say you recently won a sizable sum at an online casino. You have already begun to consider how you will spend your entire budget, is it correct? Possibly a new car, a trip, or even a sizable new house in the event that you strike it rich. The casino then notifies you that your payout is on hold and that you must supply the required KYC documentation in order to validate your account. Of course, this is incredibly frustrating. But why would an online casino need these records? And is sending your documents online secure? Do they want to keep your winnings from you? There may be a number of questions that come to mind. But relax; it’s not quite as horrible as it seems. Every genuine online casino is required to conduct a “Know Your Customer” (KYC) check by its regulation. We will go through all the details of the procedure in this guide.

Why Online Casinos Must Verify Your Account

Sending sensitive papers to an online casino may seem intrusive or unsettling, but when the operator requests account verification, it establishes their credibility. Legally, an online casino must have access to consumer information. The regulatory agencies that grant a casino a licence require this (s). Generally speaking, the higher the KYC rules, the more security you will have, which is a good thing from our perspective. Therefore, there is nothing to be concerned about. Online casinos have no intention of delaying the payout of your winnings or doing anything similar. They are merely adhering to the procedure to make sure they are in compliance with the regulations set forth by the regulating body. In fact, if an online casino doesn’t ask you to verify your account, you should be more concerned about its legitimacy.

The Maltese Gambling Authority (MGA) and the United Kingdom Gambling Commission (UKGC), to name just two, both issue licences to trustworthy casinos. However, there are a lot more reliable online gaming licences available. If you’re interested in learning more, you may find more details in the respective parts of our website.

What KYC Documents You Have to Provide

Although each reputable online casino has its own authentication process, they are typically pretty similar. The majority of the time, they need two documents: a copy of your passport, driver’s licence, or national ID card, as well as verification of your address. In rare circumstances, it can also be necessary to provide confirmation of ownership of the payment method being used for both deposits and withdrawals. This depends on where you are, where the casino has a licence, and possibly how much money you have won. For instance, if you win a significant jackpot, the casino in issue must take the necessary steps to ensure that the money actually reaches the winner’s bank account.

Most of the time, the KYC verification procedure doesn’t take very long at all, and the internal document verification is completed in less than 24 hours. It could take a few working days at some online casinos, although this is more of an exception than the rule. Let’s examine each form of document in more detail.

Proof of Identity

Of course, the verification of your identity comes first. An online casino has a responsibility to stop money laundering and to stop minors from using a false identity to play. As a result, they request to see a copy of an ID card, driver’s licence, or passport as identification. Only photo IDs that are legitimately issued by the government may be used for that. A birth certificate might also be acceptable in some circumstances, however, some licences do not allow this.

For instance, you can use your smartphone or tablet to take a picture of the paper or scan it. The same is true for all other documents. Ensure that the photo contains all four corners of the document and that your ID and all other information are clearly visible. By doing this, you avoid having to transmit your documents again and stop the online casino from rejecting them due to blurriness. Please be advised that only legitimate IDs issued by the government are accepted. The online casino will not be able to accept the document as valid if it has expired.

customers person identy

Proof of Address

You are required to enter your home address while creating an account. So, as part of the verification procedure, the casino requests confirmation that you actually reside there and that using their website to gamble is legal where you are located. There are many different types of documents that can be used for address verification. A utility bill or bank statement with your complete address on it is frequently utilized. Of course, if any sensitive information on the document is not necessary for the verification process, you can blacken it.

It is crucial that the document bears your name and address and is no more than three months old. The date of issue must also be included because of this. Please be aware that, in the majority of jurisdictions, a mobile phone bill cannot be used as a legitimate proof of address. You may always get in touch with customer service to learn more about the kinds of documents that the casino of your choosing accepts.

info users list

Proof of Payment Method

payments methods

A casino wants to verify if the player is also the owner of the payment method or account being used to make deposits or withdrawals. Because of this, they may occasionally request documentation supporting the payment method(s) you’re utilizing. Depending on the payment method you choose, there are various ways to accomplish this:

You can capture a screenshot of the online banking page where your name, account number, and bank logo are displayed if you use online banking to play at the casino. Another option is to submit a bank statement with the same details.

You can snap a screenshot of your account where your name, email address, and the payment to the casino are visible if you use an electronic wallet (or eWallet), such as Skrill or Neteller, for instance.

If you’re using a credit card, all you need to do is take a photo of the card, which should include your name, the first six, and the last four, of the credit card that was used at the casino. Before sending in your proof of payment method, be sure to blacken all the required digits between the first and last numbers for your own protection. Some online casinos may additionally provide you with the option of providing a credit card statement that includes the disputed transaction, your name, and the card number.

Preventing Underage Gambling

An online casino must perform KYC Verification. But why specifically? To stop kids from gambling is one of the primary motivations. Identity documentation stops this. It is comparable to a typical physical casino. You won’t be allowed entry if you can’t produce a legitimate ID card. Some gaming authorities are enforcing even stricter age restrictions. They demand that a casino verify a player’s age before even opening an account. This could be accomplished by requesting documents or using a unique database. The UKGC, for instance, is one of the regulators who do this.

Preventing Money Laundering

Governments and law enforcement agencies regularly monitor online casinos. Because of this, reputable online casinos make every effort to maintain a solid reputation. For instance, by stopping the laundering of illicit funds. That is yet another significant factor why an online casino requests your documentation for KYC verification. This stops crooks using anonymous accounts from using online casinos to launder money.