To verify your identity and ensure account security, financial institutions typically require proof of address, which involves submitting a document showing your name and current address.
Why is proof of address necessary?
Identity verification: all financial institutions are required to collect sufficient evidence to confirm the identity of the customer and their place of residence.
Risk assessment and transaction limits: every customer is assigned a risk category, and the amount of information we have about the customer as well as the consistency of the information we receive allows us to assess the potential risk of the customer relationship and set appropriate transactional limits. As a general rule, the more information we have about the customer (assuming it all is consistent) the higher the transactional limits can be.
Geo-restriction compliance: we have to validate that you are operating within permitted geographical regions or not bypassing restrictions and not attempting to use our services from unsupported locations.
Documents accepted by IN1 as proof of address (POA):
You can use one of the following documents to confirm your POA:
Utility bills: electricity, gas, water, or any other recurring bills issued within the last 3 months.
Internet, phone, insurance bills, or invoices: recent service bills issued within the last 3 months.
Bank or credit card statements: recent statements with your name and address, issued within the last 3 months. You can mask the amounts on the bank account statement, but your name and address must be clearly visible.
Official government documents: documents such as a driving license, passport, or national ID card.
Rental or lease agreements: currently valid rental contracts or lease agreements.
Please ensure that the document includes your full name and address.
FAQ:
When should I send my POA?
When it's time to review your proof of address, you'll receive a push notification in the app and an email. If needed, we'll send you 2 more notifications and emails as a reminder later on. You'll also see a banner at the top of your Home page prompting you to submit your documents, along with an orange dot on your Profile picture indicating that action is required.
How can I send my POA?
You can submit your proof of address right in the app! Just tap the banner on your Home page and follow the instructions.
Alternatively, head to your Verification center in the Profile section of your Home page and upload it from there.
How do I know if my POA has been approved?
Once our team reviews and approves your document, you'll get a push notification and an email from us. You can also check the status in your Verification center.
What happens if I don't submit proof of address?
If you don't submit proof of address within 30 days from the request, your operations and functions of the IN1 app will be limited. Continued refusal to provide the proof of address may lead to your account being terminated by us. We suggest uploading your proof of address as soon as you have the chance.