You probably already know that if you want to open an account in iCard digital wallet, you have to go through the process of verifying your identity. We are doing this to make sure that no one is trying to misuse your identity or money. Before providing us with a valid ID document, you will also need to complete our mandatory short KYC (Know-Your-Customer) questionnaire. In it, you should point out why are you opening the account in iCard and also give us more information about you.
You are probably wondering why it is necessary to provide us with such data to open an account in the digital wallet. As licensed electronic money by the Bulgarian National Bank, iCard must request such information from each client, as any other financial institution like the traditional banks. The difference is that with iCard, you don’t need to go to a bank or fill out documents on paper – now everything is happening fast, easy and online. The personal information you provide to us prevents the risk of misuse by a third party and helps us ensure the complete security of all our users.
How to open an account?
The process of opening an account may sound complicated, but with an iCard, it will only take you a few minutes and you can start it at any time. The only thing that you need is your phone. What steps do you need to follow to open an account in the digital wallet?
The first step is to download the iCard app, to register by entering basic information about you: names, phone number, email and date of birth. This way you will have access to your new digital wallet, but you will not yet have an account and you will not be allowed to perform financial transactions.
Once you’ve confirmed your email, it’s time to fill out our short questionnaire. Then you should verify your identity by providing a valid ID document and after that, we will scan your facial features. Right after we check your information, your first account will be opened and you will be able to take advantage of all iCard services. The standard data verification process takes from a few hours to 2 business days (depending on whether we need additional information from you or not).
How to fill out the questionnaire?
The questionnaire, which is part of the verification process, contains 8 questions, and it will take you only a few minutes. It is important to check that you have given the correct information before proceeding to the next question. What information is included in the questionnaire, and how should you fill it in?
1. Financial information
The first four questions you need to answer are related to the use of opening your account and details about your finances. You will need to indicate what is the main use of your account. Then you need to tell what your main source of income is, what annual turnover you expect and what is your occupation. Please note that you can only choose one answer to each question.
2. Citizenship and tax liability
The next two questions are about the country/countries in which you have citizenship and the countries where you are tax liable. You can mark up to 10 countries on each of the questions. For some countries, you also need to provide your tax ID number, if you have one (depending on the country where you pay taxes).
3. Politically exposed person
The seventh question is connected to the political exposure of you and the members of your family. You must tell whether you or your close relative is a politically exposed person. (a person who is entrusted with a prominent public function). If this is true, you should then indicate the public function that the person holds. If the answer is about a family member, you should also point out the relationship between you two.
4. Specified U.S. person (US)
In the last question, you must fill whether you are a “Specified U.S. person“. A “specified US person” is a person who is US individual – for example, a citizen, resident, green card holder, etc. If your answer is “yes”, you must also enter your social security number.
Why open an account with iCard?
Do you wonder whether to open an account in iCard? Do it now and manage your finances entirely through your phone. Registration, which is the first step of opening the account, is free and can be started at any time. If you’re still unfamiliar with its features, check out some of the unique benefits you get when you become a client of iCard:
- You do not have to go to a bank, wait in lines and waste time;
- As a verified client, you can easily open up to 18 IBAN accounts in 6 different currencies for free;
- You receive 2 virtual cards and the opportunity to order 1 physical card for free;
- You make free internal money transfers and fast transfers around the world (SEPA, SWIFT);
- Top-up prepaid services through the app;
- Digitize all your loyalty cards of favourite brands;
- Get the opportunity to order one of our premium cards – Visa Infinite or iCard Metal;
The innovative technologies we work with provide the highest level of security for our clients to both their personal data and the funds in their accounts. Be sure that all data you provide to us will be fully protected. Enjoy the freedom of making payments because you will take care of everything else.
Learn more about iCard: https://icard.com/en
Download iCard, verify your identity and enjoy complete freedom in payments:
Please add some updates in the near future, for example, as adding some European countries and some Arab countries
With regard to identity verification, try not to request additional documents. Passports and proof of residence addresses suffice for successful identity verification, or conduct a short questionnaire and send it to all customers to see how satisfied they are with your services. Are there any suggestions for making some additions and updates to your bank? Thank you.
Hello, Mourad,
Thank you for your feedback. The opinion of every client of iCard is important to us. Please note that we provide services in all EEA countries under EU passport rules and need to comply with strict local and pan-European regulations before unlocking access to financial operations. That’s why sometimes we request additional documents.
If you have any questions, don’t hesitate to contact us.