When you open a bank account, you usually need to take some documents into the bank branch. NALA is no different.
As a financially regulated company, we are required by law to know exactly who has accounts with us. This is known as 'Know Your Customer' (KYC) or 'Customer Due Diligence' (CDD) in the banking world. Verifying your identity helps us combat money laundering, and keep everyone’s money safe.
The type of verification may vary depending on where you’re sending money from, and how much you send. This is because each country you can send from has different laws that we need to comply with.
Usually, we’ll only need to know your name, address and date of birth. Sometimes, we may also require further information, such as the purpose of your transfer and the source of funds.
Watch this video to learn more!