Onboarding and KYC

The objective of KYC guidelines is to prevent banks from being used, by criminal elements for money laundering activities. It also enables to understand our customers and their financial dealing.

Follow these steps to successfully complete your KYC process.

Step 1: After logging in to your Welf.com account, to initiate the KYC, please click “start KYC” at the top of the Dashboard page. You will be forwarded to a new page from our verification partner Sumsub.

Step 2: To prepare for this process, please prepare the following:

• A mobile phone with up-to-date software.

• A valid ID card, passport, or driver's license.

• Upload proof of address (no screenshots), not older than 3 months, with your full name stated on it, and must be one of the following document types:

  • Correspondence with an acknowledged government agency

  • Bank statement (day/week/month/year overview)

  • Credit card statement (day/week/month/year overview)

  • Utility bills linked to your address: e.g. gas, water, electricity, or internet bill.

Step 3: After you’ve completed Sumsub’s verification procedure you will be informed on whether your KYC was successful or not. In case you are not approved due to your proof of address, please take a look at this article for potential reasons and solutions.The verification process typically takes around 5 minutes to complete.

Step 4: After finalizing the KYC process on Sumsub, you will be directed back to the Welf.com dashboard. You will also receive an email informing you about the outcome of your KYC process.