What is KYC?

KYC (Know Your Customer) refers to a series of measures and procedures implemented by financial institutions, payment service providers, and other related organizations to understand the identity and background information of their customers. KYC requires institutions to conduct necessary investigations and verifications of their customers to ensure they are compliant with relevant regulations and their customers are who they claim to be.

Why is KYC necessary?

KYC is a compliance requirement for financial institutions and other related organizations. According to Australian Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) regulations and related provisions, financial institutions and regulated entities are required to conduct KYC on their customers and take necessary measures to identify and prevent money laundering, terrorism financing, and other illegal activities.

KYC helps protect customers from fraud and abuse. By requiring customers to provide valid identification and other necessary information, financial institutions can ensure the protection of customers' interests and prevent them from becoming victims of fraudulent activities.

How to complete KYC?

Step 1：Fill out Personal Information

Please provide basic information of the main applicant for your account, who must be an authorized signatory of your account.

Based on your exchange needs, please select the currency you wish to exchange and provide an estimated annual transaction amount (please use the currency you hold as a reference).

For example, if your exchange requirement is from Canadian Dollars (CAD) to Australian Dollars (AUD), the estimated transaction amount should be in Australian Dollars (CAD). Once you have filled in the required information, please click "Next".

Step 2：Upload Documents

Please prepare the following documents and ensure that the images are clear and legible.

• Primary identification document (government-issued)
• Secondary identification document (including personal name and residential address)

Please note that the file size should not exceed 5MB and must be in JPG, PNG, or PDF format.

Examples of primary identification documents:

• Australian or overseas driver's license or learner's permit (including digital driver's license)
• Australian passport
• Australian government-issued proof-of-age card
• Foreign passport issued by a foreign government or the United Nations
• International travel document issued by a foreign government or the United Nations
• National identity card issued by a foreign government or the United Nations
• Foreign birth certificate or citizenship certificate
• Government-issued concession cards such as senior's concession card, healthcare card, or seniors health card

Note: If travel documents or identification documents are in a foreign language and the person verifying the documents does not understand the language used, the customer must provide an authorized English translation.

Examples of secondary identification documents:

• Notice from the Australian Taxation Office or other government agencies (such as Centrelink) that includes the individual's name and residential address - issued within the past 12 months
• Council rate notice or utility bill (such as water, gas, or electricity bill) containing the individual's name and residential address - issued within the past three months
• For individuals under 18 years old, a letter issued by the school principal - issued within the past three months - detailing the individual's name, residential address, and their attendance at the school, or student card (if available)

If necessary, our customer service team will contact you to collect additional photo identification documents.

Step3：Review Application

Please review the information you previously provided on this page to ensure its accuracy. If any changes are required, please click "Edit" to update your information.

Once you have confirmed that everything is correct, please click "Next".

Step 4：Submit Application

Before you officially submit your KYC, please carefully read the Account Terms and Conditions.

By creating an account, you indicate your agreement with the terms and policies outlined in the above-mentioned documents. Please ensure that you fully understand and accept these documents before proceeding.

To better verify your identity, we will conduct electronic identity verification and authentication. In the final step, please enter the full name of the account holder for confirmation (ensure that this name matches the name on the official identification document).

Then, click "Submit" to proceed.

Upon successful submission of your KYC, you will receive a notification message confirming the submission. Once your KYC verification is completed and approved, you will receive a notification message.