Fast and Easy KYC with Persona
Personal Information You Will Need
Acceptable Supplementary Documents
Why Completing KYC is Important
What is KYC?
KYC (Know Your Customer) is a mandatory process that verifies the identity of individuals to prevent fraud, money laundering, and other financial crimes. It ensures that businesses understand who their customers are and comply with regulatory requirements.
At Float, all users, administrators, and beneficial owners must complete KYC to access and use our products. This process is a regulatory requirement mandated by FINTRAC (in Canada) and FinCEN (in the United States).
Fast and Easy KYC with Persona
We use Persona for automated KYC verification. If no issues arise, the process will only take a few minutes.
- If there are any issues or if Persona cannot complete the verification, our team will manually review your case within 3 business days.
- You can pause your session and return to complete it within one week.
- You have up to 5 attempts to complete the verification.
In some cases (e.g., if you use a foreign ID or provide a PO Box address), you may be asked to submit additional documents.
- A bill or bank statement (PDF format) from the last 60 days works best.
To better understand the KYC verification process and the technology behind it, you can learn more about Persona on their official website. They provide comprehensive resources and insights into how their identity verification solutions work. Visit Persona's website for more information.
Personal Information You Will Need
To complete your KYC verification, you will need to provide:
- First Name
- Last Name
- Birth Date
- Phone Number
- Address
- US Citizenship Status
- Country of Residence
- Social Security Number (SSN) – Required only if you are a US citizen
Accepted ID Documents
To successfully complete the ID verification process, you can use the following documents:
Canada
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Driver's License
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Passport
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Permanent Residence Card
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Photo ID Card
USA
- Government-Issued ID
- Passport
- Driver’s license
- Residence Permit
Rest of the World
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Passport
-
Driver’s license
If you do not have any of the listed documents, please contact our team at support@floatfinancial.com for assistance.
ID Document Quality Criteria
To ensure a smooth KYC verification process, your ID document must meet the following criteria:
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Legibility: The document must clearly display your full legal name, date of birth, and date of issue.
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Validity: The ID must remain valid for at least 30 days from the date you submit it to Float.
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Complete Visibility: Ensure that the entire document is visible, including all edges and data strips (if applicable, such as in passports).
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Clarity: All photos and details on the document should be sharp and easy to read, without glare or reflections.
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Original Images: Only original images are accepted; screenshots or digital copies are not permitted.
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Colour Requirement: The document must be in full colour—black and white images are not acceptable.
Acceptable Supplementary Documents
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Name Requirement:
- Documents must display the legal name.
-
Proof of Address (must be dated within the last 60 days):
- Documents must reflect address. Accepted documents are:
- Utility bill (e.g., water, electricity, gas)
- Bank statement
- Government correspondence (e.g., tax documents, official letters)
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Format:
- Documents should be in common formats (e.g., PDF, JPG, PNG).
- Ensure documents are clear and legible.
Why Completing KYC is Important
Completing KYC is essential to meet the regulatory requirements of FINTRAC and FinCEN. Without it, users will not be able to access Float cards or services.
We are committed to making this process seamless, so you can start using Float with confidence and without delay!
Troubleshooting & Support
- If there are any issues or if Persona cannot complete the verification, our team will manually review your case within 3 business days.
- If we require more information, our KYC team will reach out to you directly.
- If you do not wish to complete KYC through Persona, reach out to our team at help@floatfinancial.com for assistance.
Commonly Asked Questions
Is there an alternative to Persona?
If you prefer not to use Persona for your KYC verification, we offer an alternative through the dual-method process. This method requires you to provide an ID and a bill or bank statement from the last 60 days.
If you have any questions or need assistance, please reach out to our team at help@floatfinancial.com.
Why is employee identification required?
We understand that this might seem confusing! At Float, we prioritize compliance with regulations to protect your business and maintain the highest security standards. Identification of employees is part of our Know Your Customer (KYC) process, which is mandatory for holders of prepaid cards under FINTRAC regulations.
For more details, you can find the requirements linked here.
If you have any questions or need assistance, please reach out to help@floatfinancial.com.
We’re here to help you every step of the way! Your peace of mind is our priority.
Why is identification for directors or UBOs required?
We understand this requirement may raise questions! At Float, we are committed to ensuring the highest level of compliance and security for your business.
Identification of directors and Ultimate Beneficial Owners (UBOs) is a crucial part of our Know Your Business (KYB) process, which helps us meet regulatory standards and protect against fraud.
If you have any questions or need assistance, please reach out to help@floatfinancial.com.
We’re here to help you every step of the way! Your peace of mind is our priority.