In line with the UK’s (Amended) Money Laundering and Terrorist Financing Regulations 2019, we perform identity and residence KYC (Know Your Customer) verification checks. Opening a Coinfloor Account is similar to opening a bank account and in the financial services industry, these procedures are standard.
The documentation submitted for each client application receives a thorough inspection and database verification. The database enquiry does not have any impact on credit score and will not impair your ability to raise credit as it is not equal to a credit check.
Our procedures are regularly revised and adjusted to minimise the impact to the customer and to improve our overall service.