# KYC Verification

#### **Why KYC is Required**

KYC verification ensures that:

* You are a **real individual or business** eligible to receive payments.
* Peaxel complies with **anti-money laundering (AML)** and **counter-terrorism financing (CTF)** regulations.
* All transactions are secure and traceable.
* Fraud and identity theft risks are minimized on the platform.

#### **When You Need KYC**

You must complete KYC verification before you can:

* Withdraw funds from your **Peaxel Cash Wallet**
* Participate fully in cash-based rewards

Freecards are temporarily **borrowed** and cannot be sold until your account is verified.

***

#### **Step-by-Step KYC Process**

1. **Link Your Stripe Connect Account**
   * Go to the **Cash Wallet** section in Peaxel.
   * Click **“Activate Stripe”**.
   * You will be redirected to the Stripe Connect onboarding page.
2. **Provide Personal Information**\
   Stripe requires the following details:
   * Full legal name
   * Date of birth
   * Home address
   * Contact email and phone number
   * Nationality
3. **Verify Your Identity**\
   Upload a **government-issued ID**:
   * Passport
   * National ID card
   * Driver’s license\
     Make sure the ID is **clear, legible, and not expired**.
4. **Submit Banking Information**
   * Provide your **IBAN** or bank account details to receive payouts.
   * Currency can be EUR or USD.
5. **Stripe Verification & Approval**
   * Stripe reviews the submitted documents and banking info.
   * Verification usually completes **within 24–48 hours**.
   * Once verified, your account is **activated** and you can request withdrawals.

***

#### **Tips for Smooth KYC Approval**

* Ensure all personal information **matches your ID** exactly.
* Use a **high-quality scan or photo** of your documents.
* Make sure your bank account is **in your name**.
* Avoid using temporary email addresses.
* Complete all fields carefully; incomplete submissions may delay approval.

***

#### **After KYC Activation**

Once your Stripe account is verified:

* You can **withdraw rewards** directly from your Peaxel wallet.
* Funds are sent to your bank account (IBAN) according to your country’s processing times.
  * Immediate transfers for supported countries
  * Up to 48 hours for others
* Freecards can now be **fully owned and sold**.
* All transactions are logged in the **Transactions History** for transparency.

***

#### **Security & Privacy**

* Stripe encrypts and protects your personal and banking information.
* Peaxel does **not store sensitive ID or banking info** outside of Stripe.
* KYC compliance ensures **safe and legitimate cash payouts** for all managers.


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