WHAT FOR?
In the beginning, an account at Xendpay is not verified. Verifying means, for the client, that he benefits from several advantages (see changes below) as well as improves the security of his account:
WHY?
Every financial company is in danger of becoming victim of fraud. It is not impossible to steal card details of a person. But proofing the identity of this person is much harder. Xendpay wants to offer the best possible care for its customers which includes making all possible efforts to increase the safety of the customers. So Xendpay protects andybody who has registered as a client by inserting the step of verification.
On top of that we are obliged to guarantee the best possible security of our clients by legal requirements (EU and UK). As Xendpay is authorized and regulated by the FCA it is mandatory to act in accordance with applicable regulations.
HOW?
In order to verify the account of a client it is necessary to proof that Xendpay is dealing with a genuine person and not with somebody with criminal intentions. So some documents and information about the payment(s)is required:
1.Proof of the identity of the client
The client can choose a document from this list:
- Passport
- EEA National ID card
- EU national resident permit
- EEA photo card driving license
2. Proof of address of the client
To guarantee that the address is correct we can only accept documents which are not older than three months. Furthermore the document must be a non-online document. The client can choose a document from this list:
- Bank statement or utility bill
- Local authority tax bill
- Correspondence from a regulated financial sector firm
- Confirmation from the electoral register
- Solicitor’s letter confirming recent house purchase
- NIHE, Council or private rent card, tenancy agreement
- Benefit book or correspondence from benefits agency
- Correspondence from HM Revenue & Customs
3. Information about the payment
Some general facts about the transactions to create additional protection against fraud:
- Destination currency: Which currency shall be paid on the recipient’s account?
- Destination country: To which country shall the money be sent?
- Amount of money: Either for the only payment or the yearly amount (if there are regular payments)
- Relationship to beneficiary: Is it a payment to e.g. a family member, a supplier etc.
- Purpose of transfer: What is the reason for the transfer (e.g. family support, living expenses etc.)
- Occupation of the client:
After these steps the account is much better protected against criminals and you can benefit from many new features!
VERIFY YOUR ACCOUNT NOW
In order to benefit from the new settings you will need to verify your account. It’s a free process that we strongly recommend as it will help us to protect you better.
Do you need more information about these changes? You can contact us with your enquiry. We are here to help!
