What is KYC and Why Do We Ask for Your ID?

If you’ve ever tried to send money and been asked for your passport or ID, you’ve probably wondered:

Why do I need to do this? What is KYC anyway?

Let us explain it simply.

What is KYC?

KYC stands for Know Your Customer.

It’s a process that financial institutions (like SwiftTransfer) use to verify your identity before allowing you to send or receive money. KYC is required by regulators—like the Financial Conduct Authority (FCA) in the UK—to help prevent:

• Money laundering

• Fraud

• Terrorist financing

• Identity theft

It’s a security layer that protects both you and the financial system.

What Does SwiftTransfer Ask For?

To follow KYC rules, we ask for basic documents when you:

• Sign up

• Try to send over a certain amount (e.g., £250 or more)

• Update your personal details

We may request:

• A valid passport or national ID

• A selfie to confirm it’s you

• Proof of address (only in certain cases)

Don’t worry—our system is encrypted and your documents are safe with us.

Why It’s Important for You

KYC protects you by:

• Stopping someone from using your identity

• Making sure your money doesn’t get blocked or delayed

• Keeping SwiftTransfer compliant, so we stay licensed and trustworthy

We know it can feel like a hassle—but it’s one of the main reasons why your transfers stay secure and fast.

How Long Does KYC Take?

With SwiftTransfer, most users complete KYC in under 5 minutes.

You can upload your ID using your phone, and we’ll guide you step by step.

Our Promise: Fast, Fair & Compliant

We do KYC because we have to—but we do it with care.

Our goal is to keep the process:

• Simple

• Private

• Transparent

We’ll never ask for more than what’s necessary, and we’re always here to help you through it.

Questions? Our WhatsApp support team is ready to assist—day or night.