At Rand, in line with our commitment to regulatory standards and the protection of our clients, we require all users to complete a KYC form. This involves requesting necessary information and documentation according to international regulations applied to financial entities to enhance security within the ecosystem.

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The KYC process takes only 3 minutes and is designed to protect against identity theft, fraud, and money laundering. By verifying the identity of our users, we create a safer environment for financial transactions, reducing the risk of misuse or unauthorized activity on our platform.

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Additionally, the personal information collected is secured under strict security measures in collaboration with Onfido, our partner assisting in the identity verification process. Once successfully verified, users can access a wide range of financial services without worry.

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What is KYC?

KYC, which stands for "Know Your Customer," is a regulatory requirement that Rand must follow to ensure the verification of users' identities. This process will appear once you create your account on Rand and is a mandatory requirement for using the application.

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To complete the KYC, you will be asked for the following details:

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• Personal information: full name, address, and profession.
• Identification document: either a passport or national ID card.
• Verification selfie.

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These data are safeguarded under strict security measures so that once verified, the user can enjoy a secure experience in compliance with regulations.

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How to Complete KYC?

The verification process generally takes only 3 minutes, and validation can be immediate or take up to 48 hours. Therefore, it is important to have a stable internet connection and carefully follow the instructions during the KYC process. This will help expedite verification and ensure a seamless experience.

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Before opening your account and initiating the verification process, ensure that you meet the requirements to be a Rand member:

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• Be over 18 years old.
• Be a European citizen.
• Reside in the European Union.
• Rand is only available in specific countries: Austria, Belgium, Bulgaria, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Italy, Latvia, Lithuania, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, and Sweden.

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Steps for the KYC Process:

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Step 1: Register or log in to your Rand account using our mobile application.

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Step 2: On the home screen, a banner will appear with a button that says "Start verification." Click it and follow the on-screen instructions to submit the necessary documents and information for verification. Ensure you have your national ID card or passport nearby.

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‍Step 3: Complete the questionnaire: profession, occupation, and residence. Once completed, click on the "Save and complete" button.

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Step 4: Choose your document type, add your ID number, and click the "Confirm and take picture" button.

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Step 5: Take a photo of your identification document front and back. Ensure the photo is clear and legible.

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Step 6: Take a selfie, making sure your face is within the oval. Upload the photo by clicking the "Upload selfie" button or retake it by clicking "Retake selfie."

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Step 7: Wait a few minutes for the verification to complete. Once confirmed, a screen with the message "Verification complete" will appear.

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What If Verification Fails?

If verification fails, the reasons could be:

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• Invalid ID or passport: Currently, only ID cards or passports issued within the European Union are accepted.
• Expired ID card: Ensure your ID card is not expired.
• Mismatch between the selfie and ID photo: Make sure you are using the correct identification.
• Blurry images: Ensure the images you submit are not blurry and try again.
• Unclear image: Check for reflections and ensure all details of your documents are clear and visible.
• Face not detected: Ensure your face is within the circle when taking the selfie.

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You will be notified in the app and via email if a verification error occurs. Check and retry to start using the Rand App.

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If you encounter any difficulties or have questions during the verification process, our dedicated support team is available to assist you. Contact us at support@rand.app.