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KYC Process

KYC Process

KYC (Know Your Client) policies are now increasingly important among banks and other financial institutions, with the goal of preventing identity theft, money laundering, financial fraud and terrorist activity.

Markets Bank maintains a zero tolerance policy towards fraud and takes all possible measures to prevent its occurrence. Any fraudulent activities will be documented and related accounts will be closed with immediate effect and the funds in these accounts will be forfeited.

Prevention

Markets Bank works through a variety of security measures and fraud controls to protect the security of any sensitive data it might obtain, such as account details and financial transactions made. We are required to request certain information from you which includes your chosen method of deposit.

Once you deposit funds the following documents are required:

We need a copy of your valid passport, driving licence, or other government issued photographic ID.. If you send us your passport, we will need to see the page which shows your picture. Make sure that the copy you send us shows the two open pages of the passport. If you send us a driving licence or other identity card, make sure to send colour copies of both the front and the back. Do not obscure any information on the documents you send us.

We will also need copies of the debit or credit card used to make your investment. Send colour copies of both the front and back of the card itself. You must leave the last 4 digits of the card number visible, as well as your name, the expiry date, and your signature on the back. We advise you to cover the CVV number on the back before sending this to us.

To verify your Markets Bank account we need your Proof of Residence document. In order to prove your address send us a utility bill, such as a gas, water, electricity, or home phone bill. You can also send us a bank or credit card statement. The document must show the same name as your passport or ID, and must have been issued within the last 2 months. Your name and address must be in Latin characters. Send a colour copy of your proof of residence to [email protected].

When Should i Provide These Documents?

To avoid any delays in processing your transactions we advise sending all of the requested documents as soon as possible. The receipt of all documents is required prior to any transactions being made to your benefit. In certain circumstances, documents may be requested before any other activities on your account, such as deposits or trades. Please note that pending withdrawals will be cancelled unless the necessary documents are received, in this case you will be notified via our system.

How Should i Send You My Documents?

You can send us a good quality photo or scan of your documents. We can also accept PDF and jpeg files. Please send it to us at [email protected].

Will My Documents be Safe With You?

Markets Bank considers the security of your documents to be of the highest priority. All documents you provide us are treated with the utmost confidentiality, all files we receive are protected using secure encryption at every step of the verification process.

Will Any Fees be Applied if KYC is Not Provided?

The verification of our clients’ accounts is an important process, which all of our clients have to go through in order to securely process their transactions. If a client will not comply with this process, then it will be considered a misuse of the account and our services. Fees may be charged to your account if the requested documentation is not provided within 5 business days of the first deposit, or within 3 business days of any subsequent deposits which might require additional documentation. We appreciate your cooperation in keeping Markets Bank a safe place to trade.

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