Central KYC Registry: Who Qualifies and What You Get
Learn how the Central KYC Registry simplifies your financial life by providing a one-time identity verification for all financial institutions.
The Central KYC Registry is a centralized system that stores your identity and address details so you do not have to submit the same documents every time you interact with a new financial institution.
Who it's for
This system is used by all financial market participants to verify the identities of their customers.
What you get
Instead of undergoing a new identity verification process every time you open a new account, you benefit from a one-time KYC (Know Your Customer) process. This single verification is shared across various financial institutions, making it easier to manage multiple investments and bank accounts.
What it costs you
There is no cost to you for this service. The process is usually handled directly by your broker or your bank.
The catch to know
If your KYC status is marked as 'on-hold', you will be unable to make any new investments until the status is updated.
How to apply
- Provide your required identity and address documents to your financial service provider.
- Ensure your provider submits these details to the central registry.
- Check your status with your broker or bank to ensure your verification is complete and active.