How To Complete KYC Verification

Contents

Part 1: Why does Yellow Card need to verify my identity?

Part 2: How do I Complete My Yellow Card KYC Step By Step

Part 3: KYC Documentation Required Per Country for Individuals & Businesses

Part 4:Common Errors that May Occur when doing KYC Verification


Part 1: Why does Yellow Card need to verify my identity?

Yellow Card Financial is a company whose mission is to bring financial inclusion to everyone. As we do this, we are committed to protecting the integrity of our company by ensuring that no illegal or illicit activity is carried out on our platforms.

This is why we require KYC (Know Your Customer) information from our users - to ensure that our customers can easily buy, sell or store cryptocurrencies safely on our platforms.

All personal information and details we request from our customers as they sign up and trade on Yellow Card are in compliance with KYC and AML (Anti-Money Laundering) requirements of the countries we operate in. In countries that do not require us to strictly collect KYC information, we nevertheless collect this information as an internal safety measure that ensures we are always abiding by local laws and international standards pertaining to protecting our customers.

Note: All collected information is confidential and kept safe; we do not share your personal information with third parties.

Yellow Card has also added the ability for KYC verified accounts to enjoy higher daily withdrawal/deposit limits through our tier system.

Our Daily and Lifetime Trading Limits are as follows per country:

Country (CUR) Tier 1 Tier 2 Tier 3
Country - GHANA (GHS) Daily: 2000 Lifetime: 10000 Daily: 60,000 Lifetime: 1,000,000 Daily: 500,000 Lifetime: Unlimited
Country - NIGERIA (NGN) Daily: 50,000 Lifetime: 350,000 Daily: 2000000 Monthly: 10000000 Daily: 50000000 Lifetime: Unlimited
Country - KENYA (KES) Daily: 50,000 Lifetime: 250,000 Daily: 500,000 Lifetime: 1 Million Daily: 1 Million Lifetime: Unlimited
Country - CAMEROON (XAF) Daily: 50,000 Lifetime: 500,000 Daily: 3 Million Lifetime: 15,000,000 Daily: 10 Million Lifetime: Unlimited
Country - TANZANIA (TZS) Daily: 5 Million Lifetime: 25 Million Daily: 25 Million Lifetime: 250 Million Daily: 150 Million Lifetime: Unlimited
Country - SOUTH AFRICA (ZAR) Daily: 15, 000 Lifetime: 15,000 Daily: 100,000 Lifetime: 1 Million Daily: 1 Million Lifetime: Unlimited
Country - BOTSWANA (BWP) Daily: 5,000 Lifetime: 50,000 Daily: 100,000 Lifetime: 500,000 Daily: 1,000,000 Lifetime: Unlimited
Country - UGANDA (UGX) Daily: 4,000,000 Lifetime: 50,000,000 Daily: 200,000,000 Lifetime: 500,000,000 Daily: 700,000,000 Lifetime: Unlimited
Country - RWANDA (RWF) Daily: 2000000 Lifetime: 2000000 N/A N/A
Country - ZAMBIA (ZMW) Daily: 20,000 Lifetime: 50,000 Daily: 50,000 Lifetime: 150,000 Daily: 500,000 Lifetime: 2 Million
Note: The KYC information we request may vary from country to country based on the particular country’s laws and regulations.

We strongly encourage every customer to submit their verified KYC information. In instances where login details are forgotten or lost, this information will be used for quick account recovery.

Part 2: How do I Complete My Yellow Card KYC Step By Step

Tier 1 Verification

Your very first verification will be your email verification. This is required to start using your Yellow Card account and gain access to Tier 1. 

Our Tiers are designed to provide every user with both daily and lifetime trading limits. Tiers currently range from 1 to 3 for individuals and a 4th for businesses. Each Tier upgrade is based on a unique set of requirements per country that must be met in order to be approved.

Please note that it may take several business days to complete your verification due to the large number of requests we receive.

Tier 2 Verification

To get your verification for Tier 2 approved first begin by logging into your Yellow Card account.

On the homepage, you can simply click on the “Do a lot more by increasing your limits” link or simply click on the drop-down arrow beside your name on the top right corner of the web page.

Among the drop-down options, select “Settings”

Scroll down to Tier 2 and click on “Verify Identity Documents”

You will be required to submit a set of documents depending on the country in which you reside.

After providing those documents they will be reviewed between 1/2 business days. During that period, we may also reach out to you via our official email in order to clarify any anomalies.

Note: Please be wary of perpetrators who pose as Yellow Card employees in order to steal your information or defraud you in some other ways.

Tier 3 Verification

You will only be allowed to proceed to get verified for Tier 3 only after submitting and getting approved for Tier 2 verification.

To get verified for Tier 3, you need to visit the “Settings” page once more just as shown above. Scroll down to Tier 3 and click on “Verify Identity Documents” just as shown below:

Again, you will be required to submit a set of documents depending on the country in which you reside.

After providing those documents they will be reviewed between 1/2 business days. During that period, we may also reach out to you via our official email in order to clarify any anomalies.

Part 3: KYC Documentation Required Per Country for Individuals & Businesses

Yellow Card is a multinational company that exists across several countries. Since each of these countries have unique laws, we are required to collect information that may vary from country to country. The information that we collect may also be used to keep our users safe from fraudulent activities.

Yellow Card collects information about you based on your Tier. Each Tier, with the exception of Tier 1, requires a unique set of documents per country. 

Tier 1

The documents required for Tier 1 mainly consist of general basic registration data. It is the same for all countries Yellow Card operates in and includes: 

  • Phone Number 
  • Email 
  • Full Name 
  • Date Of Birth

Verification Process: You will be required to verify this yourself by simply opening your email and clicking on an email we will send you.

Tier 2

The documents required for Tier 2 verification may vary per country

Ghana

  • Proof of Residency/ Proof of Residential Address
  • Proof of source of funds (Bank statement)

Zambia

  • Proof of Residency/ Proof of Residential Address
  • Proof of source of funds (Bank statement)

Uganda

  • Proof of Residency/ Proof of Residential Address
  • Proof of source of funds (Bank statement)

Botswana

  • Proof of Residency/ Proof of Residential Address
  • Proof of source of funds (Bank statement)

South Africa

  • Proof of Residency/ Proof Of Residential Address
  • Proof of source of funds (Bank statement)
  • Verified FICA documents

Rwanda

  • Proof of residency/ Proof of Residential Address
  • Proof of source of funds (Bank statement)

Tanzania

  • Proof of Residency/Proof of Residential Address
  • TIN document
  • Proof of source of funds (Bank statement)

Cameroon

  • Proof of residency/ Proof of Residential Address
  • Proof of source of funds (Bank statement)

Kenya

  • Proof of residency/ Proof of Residential Address
  • Proof of source of funds (Bank statement)

Nigeria

  • Government Issued ID
  • Proof of Residential Address
  • Proof of source of funds (Bank statement)
Verification Process: After submitting your documents, they will be reviewed by our internal compliance team and verified within 1/2 business days if satisfactory.

Tier 3

Tier 3 will require additional documentation and may also vary per country

Ghana

  • Proof of Income
  • TIN (inputted number)
  • Proof of Occupation/ Business
  • Employer's address/Business Address
  • CTC of Proof of source of funds (Bank statement)

Nigeria

  • National Identity Number (NIN)
  • CTC of Proof of source of funds (Bank statement)
  • Proof of Occupation/Business
  • Employer's Address/Business Address

Kenya

  • Proof of Occupation/ Business
  • Employer's Address/ Business Address
  • CTC of Proof of Source of Funds (Bank Statement)

Cameroon

  • No Conviction Document
  • CTC of Proof of Source of Funds (Bank Statement)
  • Proof of Occupation/Business
  • Employer's address/Business Address

Tanzania

  • CTC of Proof of Source of Funds (Bank Statement)
  • Proof of Occupation/Business
  • Employer's Address/Business Address

South Africa

  • No Conviction Document
  • CTC of Proof of Source of Funds (Bank Statement)
  • Proof of Occupation/Business
  • Employer's address/Business Address
  • Two-factor authentication should be activated for more than 31 days.

Botswana

  • No Conviction Document
  • CTC of Proof of Source of Funds (Bank Statement)
  • Proof of Occupation/Business
  • Employer's address/Business Address

Uganda

  • Employer's address/Business Address
  • Source of Funds
  • Proof of Occupation/Business
  • CTC of Proof of source of funds (Bank statement)

Zambia

  • Reference Letter (employer or government body)
  • Employer's address/Business Address
  • Source of Funds
  • Proof of Occupation/Business
  • CTC of Proof of source of funds (Bank statement)

Rwanda

  • Employer's address/Business Address
  • Source of Funds
  • Proof of Occupation/Business
  • CTC of Proof of source of funds (Bank statement)

Tier 4/OTC

Tier 4 will require the following documentation and may also vary per country

Ghana

  • Certificate of Incorporation & Certificate to Commence Business, Forms 3 & 4
  • ID card of directors & key contact person
  • Residential Address Confirmation Documents of three Key Directors, all
  • Signatories and all Shareholders with 10% or more interests.
  • Proof of Correspond (GhanaPostGPS address)
  • Proof of Address of company
  • WBen for foreign directors
  • Notarised docs
  • TIN of Company and Directors.
  • Board Resolution Letter on the Company’s Letter Head or with a Seal of the Company.

Nigeria

  • Board Resolution authorizing the opening of the account and approving the account signatories.
  • Copy of the company certificate and other incorporation documents.
  • Residential address of the directors.
  • Bank Verification Number of signatories of directors
  • Notarized Valid identification of the directors such as international passport, driver's license, etc.
  • Tax Identification Number for the company
  • Notarized Utility bill of business addresses such as the Power Holding Company of Nigeria (PHCN), water bill, Lagos Waste Management Authority (LAWMA), etc.
  • Notarized Evidence of Special Control Unit Against Money Laundering (SCUML) registration for companies categorized as DNFI.
  • Notarized Ultimate Beneficial Owner Document showing the percentage of ownership.

Kenya

  • An Original and Copy of the Company’s Certificate of Incorporation – The certificate must have scannable QR Codes.
  • Memorandum and Articles of Association
  • A Board Resolution Letter on the company’s official letterhead authorizing the opening of the OTC account with Yellow Card – signed by the Director(s).
  • KRA Pin Certificate or Tax-Exempt Certificate for the Company.
  • Identification documents of all directors of the Company and any Shareholders owning 25% or more. These documents include; KRA Pin Certificate plus an Original and Copy of a National Identity Card (ID) or a Valid Passport.
  • A duly signed Company Registration Form (Form CR1) – for companies incorporated after the enactment of the Companies Act 2015.
  • Form CR2 Memorandum for a Company with share capital.

– Or, Form CR3 Memorandum for a Company limited by Guarantee.

– Or, Form CR4 Memorandum for a Company whose liability is unlimited;

  • Form CR8 showing the residential address of the Directors of the Company.
  • An updated Form CR12 that shows the list of Directors and Shareholders of the Company

Cameroon

  • Company articles of association as required by OHADA (notarized)
  • Certified sketch map of business location
  • Notice of publication of statutes
  • General Assembly Minutes constituting the company (required only for Public Limited Companies)
  • Valid Business license
  • Taxpayers number (valid taxpayer’s card)
  • Tax certificate (certificate of non-indebtedness)
  • Company stamp
  • Valid National Identity Cards or Passports of the signatories (photocopy needed also)

Tanzania

  • Memorandum and Articles of Association (MERMART)
  • Certificate of Incorporation/Registration
  • Valid business license (Where applicable)
  • TIN (Tax Identification Number)
  • Means of ID of Directors
  • A Board Resolution Letter on the company’s official letterhead authorizing the opening of the OTC account with Yellow Card – signed by the Director(s).
  • Proof of Address of Directors
  • Shareholders Certificate

South Africa

  • Certified ID or Passport of all three Directors  
  • Proof of Physical Address of all Directors
  • Company Registration documents  
  • Share Certificate
  • Tax clearance of corporate entity (Registration and SARS docs)
  • A Board Resolution Letter on the company’s official letterhead authorizing the opening of the OTC account with Yellow Card – signed by the Director(s).

Botswana

  • Certificate of Incorporation
  • Share certificates
  • Directors Ids/passports
  • Form 2 (Company physical address and postal address)
  • Form 3 (Evidence of Directors Residency)
  • Tax Receipt/Certificate or Tax Identification Number
  • A Board Resolution Letter on the company’s official letterhead authorizing the opening of the OTC account with Yellow Card – signed by the Director(s).

Uganda

  • Certificate of incorporation
  • Memorandum and Articles of Association (MERMART)
  • Company form 20 (Particulars of Directors)
  • A Board Resolution Letter on the company’s official letterhead authorizing the opening of the OTC account with Yellow Card – signed by the Director(s).
  • Company form 18 (shows location of business)
  • ID cards of Directors
  • Tax Registration Certificate or TIN

Zambia

  • Company registration documents (PACRA documents) and Company profile.
  • TIN/Tax Certificate (ZRA Tax form)
  • Identification documents for directors(NRC or passport)
  • Proof of Address for Business and all Directors.
  • A Board Resolution Letter on the company’s official letterhead authorizing the opening of the OTC account with Yellow Card – signed by the Director(s).

Rwanda

  • Certificate of Incorporation
  • Share certificates
  • Directors Ids/passports
  • Form 2 (Company physical address and postal address)
  • Form 3 (Evidence of Directors Residency)
  • Tax Receipt/Certificate or Tax Identification Number
  • A Board Resolution Letter on the company’s official letterhead authorizing the opening of the OTC account with Yellow Card – signed by the Director(s).

Part 4: Common Errors that May Occur when doing KYC Verification

The following are some of the most common errors that may occur which may lead to your verification being denied by our KYC team. We encourage you to carefully review all documents to ensure that they are in accordance with what exactly is required of you.

Images may be unclear

This is perhaps the most common error customers face while submitting their KYC documents. Please ensure that you have good lighting to enable us to see all the information shown on your documents.

Documents should be clean, clearly scanned without any watermarks, redactions, or other obscurities. If our system cannot read any part of your document, you will have to resubmit.

Unoriginal Copies of Documents

Please endeavor to send us original copies of your tax identification number form and a statement of income account showing your residency address. Unoriginal copies may be rejected.

Image Presentation

The full page of your document displaying all outer corners of the paper should be submitted.

My Income Statement was Rejected

Your income document should contain your full name, the issuing company’s name and logo should be visible, your current address, and document issue date in order to verify your documents.

Why am I unable to upload documents?

Your network may be the cause of this. Please check your internet connection or refresh your page 

Documents not acceptable for Yellow Card KYC submitted

Your documents may not have been what we required. Please see here for all documents that we accept for verification for each Tier per country.

Acceptable address verification documents are:

Utility bills (for heating, electricity, water, cable, landline telephone, sewer, gas, etc.), an original printed statement from your financial institution (bank, credit/debit card, mortgage, insurance, investments – please note that we do not accept statements from purely online financial institutions),

A signed and stamped letter from your financial institution confirming your account with them, your address, and your full name, any government-issued correspondence (including tax documents, court documents), your valid identity document, as long as it contains the address registered on your Yellow Card account. Important requirements for address verification documents:

The document should be issued within the last 90 days. The full pages of your document displaying all outer corners of the paper should be submitted. The document should contain your full name, current address, and document issue date. The issuing company’s name and logo should be visible.Тhe document should be submitted in a *.jpg, *.jpeg, or *.png file format. We cannot accept screenshots. Please submit a copy of the original document.

Note: The name on both documents should match.

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