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Introducing: Faster verification with IDScan

December 18, 2017

New IDScan announcement

Now it’s even easier to join CurrencyFair and start saving today!

Faster verification!

We are delighted to introduce IDScan – a new feature that makes it faster and easier than ever before to set up an account with CurrencyFair.

What does this mean for me?

It means you can use IDScan anywhere in the world to upload your identification documents and get verified quicker. Your account then opens faster and you can start saving on your exchanges sooner.

Why do I need to be verified?

As a fully regulated Financial Services company, CurrencyFair is subject to regulations. Each country/region that we operate in has detailed requirements in terms of what information we need to know about our customers. In the majority of instances we require documentation as proof of identity and/or address. This information enables us to verify your details, creating a secure experience for you and all our other users.

In some instances, IDScan will be able to instantly verify both ID and address documents, meaning you can get started with CurrencyFair right away.

When can I use ID scan?

When exchanging funds of over €1,000 (or the currency equivalent), your account will need to be verified. For Australian residents however, account verification is required for all new customers.

Wherever you are in the world, IDScan can help speed up the process of verifying your documents.

How does IDscan work?

IDscan authenticates many forms of ID. For photo identification, we can accept your passport, driving licence or a government issued ID card. Please ensure all documents are on their expiry date.

For proof of address, we can accept documents such as a bank or credit card statement, a utility bill, or a revenue/tax document. For a full list of accepted documents, see here

You are then ready to start exchanging money with CurrencyFair.

What devices does it work on?

This will currently work on all devices to guide you through the process of taking a correctly sized and high quality image. It is not yet available on the CurrencyFair iOS and Android apps.

What if IDscan doesn’t work – how do I get my account activated?

You can still scan and manually upload saved images of the required documents. With CurrencyFair we always give you options.

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