KYC: Know Your Customer - The Reason Why Casinos Asks for Documents

KYC: Know Your Customer - The Reason Why Casinos Asks for Documents

When depositing- and withdrawing money to and from your online casino account, you will eventually experience a "Know Your Customer"-process. Also known as KYC, this is the part where operators of online gambling establishments asks you to provide them with documents. 

If you fail to provide them with what's requested of you, you risk having your account closed and funds forfeited. 

So what's the deal with this whole "Know your customer"-thingie?

Well, that's a question every player who plays at a licensed and regulated casino will ask themselves at one point.

Most players don't understand why documents are requested and why the need of providing personal info other than name, address, email and contact number. 

In short, KYC is a process that allows businesses to verify the identity of their customers. 

As part of our casino guides series, we're going to explain why this happens. Inconvenient? Yes, but also quickly done with if you follow simple instructions. 

Know Your Customer is Mandatory

Every single UKGC (UK Gambling Commission) and MGA (Malta Gaming Authority) licensed and regulated online casino are required by law to ask their players of documents to verify their identity at some point.

If you withdraw more than €2.000 from a MGA-licensed casino, the operator is lawfully required to ask you of documentation for verification purposes before paying you the money. This can also happen to players who have not yet withdrawn money from their accounts. 

Different Types of Documents used for Verification

Depending on the extent of the verification procedure, there are different types of documents which you need to provide. It also depends on the number of deposit methods you've used to fund your player account. 

The most common documents asked for:

  • Proof of ID
  • Proof of address
  • Proof of payment method(s)

Proof of ID

In order to prove who you say you are, the operator will request proof of ID. The most common documents requested for this purpose are government issued ID such as a driver's license and passport.

TIP: To make sure your proof of identification goes as quick and smooth as possible, make sure that the full document is clearly visible. Do not cover any information or manipulate the picture / scan in any way. Please also make sure that the date is valid, as operators do not accept expired documents. 

Proof of Address

The proof of address documents are required by the operator to verify that you live where you say you do. When opening your account, you're required to provide the casino with your address.

Casinos require a document that has both your name and address on it, and the ones that are accepted are utility bills, bank statements, credit card statements or any other official document sent to you by your government. 

TIP: Make sure that the document you send is shown in full. It must be no older than 3 months from the date you send it in to the casino for verification. 

Proof of Payment Methods

Most casinos offer Credit/Debit card, Neteller/Skrill and bank account deposit methods. You have to always verify the method, which you use for deposits on online casino.

  • Credit/Debit card: To verify your card, You need to show the first 6 and last 4 digits, your name and expiry date. Other digits you can cover. From the back, you have to cover 3 digit CVC code, and your card has to be signed. Also, all 4 corners need to be visible.
  • Neteller or Skrill: Verifying this is simple. Just take a screenshot which is showing the email, account number/ID and your name.
  • Bank Account: Bank Statement or Screenshot from your online banking account showing your name and account details.

Verification Process

Most online casinos allow you to follow the process and the status of your verification via the documents upload-page. 

That's where you'll see if your documents are approved, pending or declined. If something is unclear, or you've missed some instructions, the casino will quickly notify you. It usually takes between 1-3 days to complete the process. That however entirely depends on the workload of the casino's security department. The good news is that if you have a pending withdrawal, it'll be paid out as soon as you've been verified. 

Summary of the Know Your Customer Process

The Know Your Customer process is understandably an inconvenience for you when you simply want to play. It's especially a nuisance when waiting for the money you've requested a withdrawal for. 

However, the process of know your customer is a quick one if you follow simple instructions, and is in place for the safety and security of both you and the operator your're entrusting with your own money. 

KYC is also used to prevent ID theft, underage gambling as well as used for anti money laundering purposes. 

To summarize it in a short sentence, KYC is widely adopted and used by serious and legitimate businesses that you leave money with, and is in the end of the day in place to make sure you are indeed who you say you are. 

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