Registration with MoneyPolo – How verification Works
Opening an account with MoneyPolo is easy, quick and beneficial. Initial registration is made on our official website, where you will be asked a set of basic questions. After this you will receive several emails from us that will guide you through the entire verification process. You won’t ever be left wondering what to do next or what the status of your registration is.
The main part of the whole registration process is verification. Verification of a customer’s identity is crucial – please see our previous post where the importance of verification is clearly outlined. But, how does MoneyPolo verification work, and what steps are necessary to take in order to get your account up and running? Like everything else at MoneyPolo, we like to keep this as simple and as pain-free as possible.
Stages of Verification
Firstly, you will need to fill in a straightforward questionnaire and verify your phone number and email – a 3-minute job at the most. Then, you will proceed to identity verification. There are two stages of identity verification, each opening access to a wider range of options and functions. This 2-step process ensures that your account is safe during setup, preventing unauthorized access to your funds, and complying with international financial regulation. Knowing these procedures is essential – you may have heard of numerous cases of fraud using electronic phishing attacks on bank accounts as criminals try to find out users’ passwords and details to attempt to empty customer accounts. A watertight verification process makes such attacks not worth attempting.
Please also keep in mind that MoneyPolo will never ask you for your password or login – we simply need to set up a connection between your identity and your account so that we are able to keep your account details and activity as safe as possible. All the data is encrypted, backed up with the best and most up-to-date technologies, and regulated and protected by UK financial legislation that is considered the leading benchmark for financial services across the entire world.
Primary Verification – Typically, the First and Last Step
Primary Verification is the first step in the verification process, and in most cases the only one necessary. You will be asked to upload a scan or a photo of a verifiable identification document, and an official proof of your address. It is a simple procedure, the same as uploading and attaching a document to an email, but in our case, to our secure Account Management System, my.moneypolo.com. You also have the option to upload these documents securely through our mobile app, which is even easier. This type of verification is called 1+1 Verification, and it is sufficient for most of the major services offered by MoneyPolo, including MoneyPolo prepaid cards and the MoneyPolo Payment Account.
When you experience the benefits of using a MoneyPolo account, you might find you want the freedom to work with even greater amounts of money. In this case, another type of Primary Verification is required, known as 2+2 Verification. It is fundamentally similar to 1+1, but 2 different proofs of identity and 2 proofs of address (an internet bill and/or tenancy contract for example) are required.
Secondary Verification – Gain Unlimited Service
To gain even greater freedom and access to take advantage of all MoneyPolo services, completion of our Secondary Verification process is required. Secondary verification confirms identity through notarized paper copies of documents sent via regular mail, in addition to scanned versions. It can be part of a 1+1 or 2+2 step verification, meaning one notarized identification document + one original proof of address, or 2 of each.
For the fastest way to complete the verification process, documents sent via regular post should be sent after the successful completion of Primary Verification. A record of your application will be in our system and we can relate hard copy documents to your confirmed account in no time at all. As standard, you will be notified at every stage of the verification process.
Additional Protection – Why?
When the validity of documents provided expires, we might ask you for an up-to-date copy. This is called “recurrent verification”, and the process of submission is the same. Recurrent verification ensures the continuing security of your account.
The logic behind these requirements is simple. If you need to manage higher amounts of money from your account, you need to be additionally protected. With higher levels of verification we are able to provide high-level security and peace of mind. It’s like living in a nice, respected community – you want your neighbors to be nice, reliable people, and as a result be sure your community is a safe place to conduct your daily business. MoneyPolo stands for just that. We have created and now maintain a secure platform for trustworthy people who respect both their own and others security. If this is you, we are happy to have you on board.
To sum everything up, verification allows access to MoneyPolo services, and each level of verification broadens your possibilities with MoneyPolo. Primary 1+1 Verification with scanned document verification provides initial access to services. Primary 2+2 Verification provides a wider range of options to work with your account. To further expand your user experience and range of services, Secondary 1+1 Verification where you provide hard copy confirmations, and finally, Secondary 2+2 Verification, give you unprecedented access to a comprehensive and sophisticated suite of financial services, and simply everything we have to offer.