KYC Requirements: What You Need to Know to Verify Your Identity Online

When you sign up for a bank, crypto exchange, or neobank, you’re asked to submit your ID, proof of address, and sometimes a selfie. That’s KYC requirements, a set of rules financial institutions follow to verify your identity and prevent fraud. Also known as Know Your Customer, it’s not optional—it’s the gatekeeper for almost every digital financial service today. Without it, you can’t open an account, trade crypto, or even send money internationally through most platforms.

KYC requirements tie directly to AML compliance, anti-money laundering laws that force companies to track where money comes from and who’s using it. These rules aren’t just about stopping criminals—they’re about keeping your money safe. If a platform skips KYC, it risks being shut down by regulators. That’s why even the most user-friendly apps like Revolut or Chime ask for your driver’s license or utility bill. It’s not bureaucracy; it’s protection.

But KYC isn’t just about documents. It’s also about digital identity, how your personal data is collected, stored, and matched across systems to confirm you’re really you. Some platforms use facial recognition, others scan your ID with AI, and a few even track your typing rhythm. The goal? Make it easy for you to prove who you are—and hard for someone else to impersonate you. And while it feels invasive sometimes, it’s the reason you don’t get hacked every time you log in to your investment app.

What you won’t find in most KYC guides is how messy it gets when you live in multiple countries, use cash-heavy businesses, or have a common name. That’s why the posts below cover real-world cases: how embedded finance apps handle KYC differently than traditional banks, why some crypto platforms reject users over minor document errors, and how small businesses navigate KYC when using virtual cards or procurement tools. You’ll see how compliance costs shape what services are even available to you—and why some neobanks are faster than others at onboarding.

There’s no getting around KYC requirements if you want to use modern financial tools. But understanding them means you can prepare better, avoid delays, and spot when a platform is overreaching. Below, you’ll find practical breakdowns of how KYC works across different services, what documents actually matter, and how to protect your data while still getting access to the tools you need.