β Best Practices For A Successful Verification
βοΈ The quality of the images captured improves success rates dramatically.
Before starting the verification process, here's what you need:
A valid government-issued photo ID document.
Please make sure that the ID document is not expired.
A device with a camera, if possible, use a mobile device.
Cameras on mobile devices typically take higher-quality photos than a webcam.
Below are a few best practices to help ensure that your verification succeeds:
Capture a clear image. Make sure that the images are not too dark or bright and donβt have a glare. Hold steady and allow your camera to focus to avoid blurry photos.
Please don't block any part of your ID document in the image. Ideally, we would suggest you lay it flat to take the photo.
Please don't block any part of your face. Remove sunglasses, masks, or other accessories.
Find a location with ambient lighting. Avoid spaces with strong overhead lights that cast shadows on your face or ID document. Avoid sitting directly in front of a bright light that can wash out your face and add a glare to your ID document.
π What Will I Be Asked To Do?
You will need to take a selfie.
You will need a valid government-issued photo ID document.
Specify your country of citizenship and residency.
β Why Am I Asked To Verify My Identity?
Clients of Spring can require that their customers are KYC verified. When that is the case, we will ask you to confirm your identity to get access to the platform.
π€ What Does My KYC Status Mean?
Status | Description |
Not started | You still need to start your verification process. |
Expired | After you verify your documents or selfie, you will have 24 hours to come back to complete the process. If not, it goes to expired, and you have to redo it by starting a new KYC process. |
Pending | Your verification is being processed. This process can take up to 24 hours to complete. You can return to the KYC page to see your status. |
Declined | Unfortunately, your verification has been declined. |
Approved | Your verification has been approved. You are now allowed to invest. |
π¬ Frequently Asked Questions
We've gathered some of the common questions we get below.
π Is there a minimum age requirement?
The minimum age requirement is 18 years old.
π What type of ID is recommended?
The recommended ID type for identity verification is a valid passport.
A valid passport contains all the relevant details required for ID verification and speeds up the KYC process.
Other types of IDs may be permitted depending on the country. However, using other types of ID is not recommended as this may trigger additional review and delay KYC approval.
π How long does it take?
On average, the identity verification process takes 2-3 minutes.
Spring then conducts KYC checks of your profile. Uploading a valid ID is only one step of the process and does not guarantee KYC approval.
In most cases, the KYC is approved immediately. Complex cases may take 1-5 days.
π© Which are excluded from the Spring platform?
Individuals, companies, organizations, and entities from the following countries/territories are prohibited from using the Spring platform:
Iran
Myanmar
North Korea
Russia
Crimea, Donetsk, Luhansk, Zaporizhzhia, and Kherson in Ukraine.
The basis of the exclusion list is that these countries and territories are highly exposed to sanctions risk, money laundering, and terrorist financing risks.