KYC (Know Your Customer)
KYC (Know Your Customer) is a regulatory obligation for Payment Institutions, as per the European Directive 2015/849 of the European Parliament and the Council of May 20, 2015, on the prevention of the use of the financial system for the purposes of money laundering and terrorist financing.
KYC validation is an absolute requirement when opening a Lemonway account, and the onboarding process is a crucial stage for confirming the end-user identity and performing due diligence. Our process is automated, allowing a payment account to be verified in a matter of seconds.
- A first valid identification document of the person willing to open the payment account:
- Identity card (both sides for European countries only)
- Passport
- Residence permit (both sides for France only)
Important:
For all the following account types, a bank statement document will be requested for all outgoing transfer requests. In this case, an IBAN must be registered in the banking information of the payment account.
- The end-user is required to validate their identity and provide official government documents.
Note
💡 Migration to new Onboarding system. For current Lemonway customers in order to migrate, please contact your account manager to help you with your migration to our new onboarding system.
2. If the onboarding page is filled-in using a mobile device the process will not alter, however if the end-user is using a computer they will be asked to finish the process by their mobile phone.
3. The end-user scans the QR code from their phone (copies the link or link via SMS).
4. Choose your document: The end-user will have to first select the issuing country of their identification from the drop-down menu. They will then be presented with the accepted documents for the selected country, for example if the end-user selects France as an issuing country the options are:
- National Identity Card
- Passport
- Residence Permit
5. Allow camera access: The end-user then must enable their mobile camera to take the required pictures of the document they selected.
6. The end-user is required to validate their identity. We use a process called liveness that requires access to the end-users mobile device to create a short video of their face.
Note
📘 If the end-user is continuing the ID verification on a mobile device, they will presented with a screen that informs them that the mobile session is linked the computer session.
7. To finalise the onboarding process the end-use must read and sign the Lemonway terms and conditions with an QES (Qualified Electronic Signature) document.