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 setup appropriate transactional limits. As a general rule, the more information we have about the customer (assuming all information we receive is consistent) the higher the transactional limits can be.
Geo-restriction compliance: we have to validate that you are operating within permitted geographical regions and not bypassing restrictions and not attempting to use our services from non-supported locations.
Accepted documents by IN1 for proof of address (POA):
You can use one of the following documents to confirm your POA:
Utility bills: recent 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: ecent 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.
How to upload the documents:
Currently, you can send us the proof of address by chatting with our Customer care team.
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.