🪪 Why you may asked for your ID (KYC)

Last updated Nov 18, 2023

We always got your back and want you to feel safe and secure. That’s why we use Stripe, Inc. — a legit and regulated payment service provider — to handle all payments made through our platform.

Stripe is on top of keeping your cash safe while you’re trading on Rolle.

To make sure everything’s all good, Stripe might have to do a ‘Know Your Customer’ (KYC) check and ask for more of your personal information. It’s all good though, we gotta do it by law.

So, what the heck is KYC? 🤯

‘Know Your Customer’ is a procedure for verifying member identities. Because Stripe is a regulated bank, it’s required by law to apply this procedure to ensure that its services comply with anti-money laundering and counter-terrorist financing requirements.

By performing the KYC procedure, Stripe ensures that payments on Rolle:

  • Follow legal requirements
  • Meet payment security standards

The point of the KYC procedure is to identify members and make sure they’re acting fairly and legally. In other words, they’re not doing anything fraudulent or illegal.

Providing personal data might seem like a hassle, but KYC is important for maintaining a safe environment on Rolle. So, if you’re a seller, you might have to complete this procedure.

Get your seller account ready to receive money 💰

To sell on Rolle and get paid, you’ll need to provide your full name, birth date, address, and IBAN.

You’ll also need to agree to Stripe’s Terms and Conditions.

Please do this before you even send the item you sold. If you don’t, there might be a delay in receiving your payout until you provide the required information.

So, here’s the deal with the KYC thing… 🤷🏽‍♀️

If you sell items worth 1,000€ or more within a year (including canceled transactions), Stripe might ask you to provide a copy or photo of your ID. They might also ask for it if they find something suspicious about your account.

Here are the documents you can provide:

  • National ID
  • Passport
  • Driver’s license

Just make sure the document is valid, complete (both sides), and clearly visible. If there are any issues, we’ll let you know right away.

You might get asked for a copy or photo of your bank statement in two cases:

  • You reach the sales limits: you’ve sold items worth 5,000€ or more (including canceled transactions) within a year. (By the way, these thresholds are set by Stripe.)
  • You seem a bit suspicious, like if your banking details were previously used by someone else, for example.

If you need to provide any documentation, it should be a bank statement. This can be in the form of a document, screenshot of your online banking account, official email or letter from your bank, cheques, or deposit tickets or forms.

When you’re uploading your bank statement, please make sure that the following information is visible:

  • Bank logo or bank name in its unique font
  • Your bank account details (matching the ones you added on Rolle), i.e. your name and the account number
  • The date of issuance (this should be within the last 12 months)

Just so you know, Stripe won’t accept edited documents, photos of bank cards, or statements that are over a year old.

And here’s the important part: we don’t store or even have access to the documents you give us. They go straight to Stripe, which is the company responsible for handling them securely.

In some rare cases, Stripe might ask for more details, like proof of address.

Once you’ve given the documents and Stripe has analyzed them, you’ll be able to continue selling on Rolle without any problems. Easy peasy!

If you don’t provide the documents, what happens? 🤔

If you don’t provide the necessary documents, Stripe might not let you use or pay out your earnings. So make sure to get those in order!

Also, be careful not to upload any suspicious or fraudulent IDs, because Stripe will reject them. And if that happens, your Rolle account will be blocked forever. Yikes!

If you want to know more about how we handle your data during the KYC procedure, check out our Privacy Policy. And for information on how Stripe handles your data, take a look at their Privacy Policy.

If you have any doubts or questions, don’t be shy! Hit the button below to get in touch with us. We’re here to help!

We gotta make sure you’re really you. Legally speaking, of course. 😇

Stripe needs some data from you to make sure you’re legit. And we’ve got it set up so you can give them that data right here on Rolle, thanks to Stripe’s API. It’s all secure, so your info stays safe. We’re doing this because we want you to be able to make payments on Rolle using Stripe. And to make that happen, we gotta give Stripe the info they need to collect.