KYC, or Know Your Customer policies are incredibly important to us. If you’ve not yet read our Regulation page, we encourage you to see just how important these processes are. KYC isn’t just an important process to everyone here at EvincoInvest as it’s become widely important, especially where banks and other financial institutions are involved.
KYC is a preventative process which is in place to prevent identity theft, money laundering, financial fraud and terrorist activity. At EvincoInvest , we hold a zero-tolerance fraud policy. In fact, any fraudulent activity will be recorded, but we won’t stop there. All associated EvincoInvest trading accounts which reflect any fraudulent activity will be immediately closed, and any funds pertaining to these trading accounts will be lost. Depending on our internal investigation into the fraudulent activity, we may alert the necessary authorities.
Security & Prevention
At EvincoInvest , it’s our aim to secure the integrity of all sensitive data we obtain. Sensitive data can include your account information and the transactions you make. We employ a variety of security initiatives and fraud controls to ensure the utmost security when it comes to protecting your data. Protecting all your electronic transactions requires us to be supplied with certain data from you. This can include your selected deposit method, which you provide within the EvincoInvest Client Area.
Depositing Funds
When depositing funds into your EvincoInvest account, we require the following documents:
- A valid copy of your passport, with the page that shows your picture as well as your signature, if you have been required to sign your passport. If you don’t have a passport, we can accept a valid government issued ID. We can also accept a valid driving license, but we will need to see your photograph on both the government issued ID as well as your valid driving license. When providing us with your government ID or driving license, we’ll request that all pictures you send us are colour images, and that you have taken pictures of the front and back.
- As part of our KYC processes, we also require a colour photo of the debit or credit cards you’ve used when making a deposit into your EvincoInvest account. Once again, we require you to take pictures of the front side of the card with the first 6 and last 4 numbers on display. As you can see from the image below, we do require you to hide certain aspects of your debit or credit card. These include the middle numbers, but we’ll have to see the backside of your debit or credit card, as this houses your signature. We need you to ensure that you cover the C.V.V. numbers when sending us the picture of the front and back of your debit or credit card, as seen in the same image below.
- When it comes to finalising our KYC processes here at EvincoInvest, we will need your POA, or Proof of Address. Without your POA, we cannot approve your trading account, and this means you will not be able to trade the. Your POA is vitally important to us, but it’s easily done as all you have to do is provide us with a utility bill, local authority tax bill, or a bank statement which has the same name as your passport, your ID, or driving license. You should also be aware that the address on the POA document you provide to us shouldn’t be older than 3 months. To provide us with your POA, simply email us a colour picture of the documents we’ve listed above to [email protected].
When do you need to provide these documents to the EvincoInvest Back Office Team?
On average, it takes approximately ten minutes to gather all the documents we require. The faster you can get these necessary documents to us, the faster we can carry out our KYC checks and approve your trading account.
We also require the receipt of all the essential documents before being able to issue any withdrawal requests. Some circumstances may require us to request these documents before allowing any other activities in your trading account, such as deposits or trades, therefore, we advise that you take the KYC process as seriously as we do. Please note that as we have mentioned above, if we do not receive the required documents, we will not be in a position to carry out the necessary KYC checks. This will result in any pending withdrawals being cancelled and credited back to your EvincoInvest trading account. We will notify you in such an event, but we would have also notified you well in advance before this would have even occurred.
Sending us your KYC documents?
Simply scan your documents using a multitude of phone apps which then turn your scans into PDFs. If you prefer, you can take a high-quality digital camera picture and send the images via mail to [email protected].
Are my documents safe and secure with EvincoInvest ?
EvincoInvest holds the security of documentation with the highest priority. We also treat all client documents we receive with utmost respect and confidentiality. All and any files we obtain are fully protected using the highest levels of encryption at every step of the review process. Our IT infrastructure is capable of 256-bit encryption and we have never suffered any leaks nor exposure.
Will I be charged if I don’t provide you with my KYC?
Here at EvincoInvest , we take the verification of all our clients’ trading accounts very seriously. Each and every one of our clients undergoes the KYC procedure. If a client makes a deposit and does not provide the KYC documentation we require, we process any type of funds these clients have deposited back to them. If a client does not wish to undergo our KYC process, we consider this a misuse of their trading account and of the brokerage services we provide. Upon further review of their account, we will charge a weekly fee of 5% if the given time frames shown below are not respected:
- Documents after first deposit: 5 business days time limit to submit.
- Declaration of Deposit (DOD) after every additional deposit: 3 business days.
We know that our stringent KYC policies aren’t to everyone’s liking, but we are building a safe FX brokerage brand here at EvincoInvest , and so we thank you for your cooperation in helping us build a better future for yourself and for all EvincoInvest clients.