KYC Issue

Why do I need to KYC?

KYC (Know-Your-Customer or Know-Your-Client) allows us to identify you in order for us to fulfil Swiss legal and regulatory requirements, for example anti-money laundering requirements.

What type of ID is accepted to verify my account?

You must have a Biometric ID or Passport (aka ePassport).

Why do I need to take a selfie?

In order to fulfil our legal and regulatory requirements, we need to perform an identity check on your before registering you as a standard client with full access to the Fiat24 services. This includes comparing your selfie to your photo ID to make sure you are the one opening the account.

Can a friend open an account for me?

No. We have facial recognition during the verification process to make sure you are the person holding the identity document. You will have to take a selfie during the process so that it can be matched to your identity document. To protect the account holder, we reject all applications from 3rd parties.All personal data is encrypted and stored securely by Fiat24.

My application has been rejected, why?

As a licensed financial institution, Fiat24 accept our clients in very prudential way. If they believe your domicile, risk profile, or background doesn’t match their business focus, they may not accept the business relationship with you. For more details, please read their Terms Of Use.If you have ever had a Fiat24 account, regardless of its current status, you cannot open a new Fiat24 account.Additionally, we reserve the right to reject applications from other countries in case of doubts regarding our regulatory and security requirements.

How long will it take to open an account?

Normally less than one business day. Please note that our working hours are aligned with Central European Time (CET).

Why is my GPS location collected during registration?

In order to fulfil the legal requirements of the Swiss Banking regulator FINMA, your GPS location needs to be captured during the account opening process.

Can I register twice and have two accounts?

No, each individual should have only one account in Fiat24. If you apply for a second time with a new NFT account number, your second registration will be rejected.This applies even if the previous account has been closed, so you cannot open a new account even if you have closed the previous one.