At Uphold, we believe in transparency and building trust with our valued users. In order for our firm to remain a safe and secure platform, Uphold must adhere to various requirements set forth by regulators. KYC (Know Your Customer) Periodic Reviews are one of the many obligations we have to fulfil in order to operate as a regulated financial institution.
What is a KYC (Know Your Customer) Periodic Review?
KYC (Know Your Customer) periodic reviews are not an indication of any specific concern with an account, they comprise routine checks that we must conduct to ensure our customer’s information is up-to-date.
What information will I be asked to provide?
The information we may request will vary depending on a variety of factors including but not limited to your account usage, financial status, and information previously submitted.
During these reviews, you may be asked to:
- Update your personal information (e.g., address, employment status, financial status)
- Confirm your source of income and nature of transactions.
- Respond to questions about your Uphold account activity and purpose.
- Provide documentation such as
- ID Verification
- Proof of your Residential Address
- Source of Wealth
Why do I need to provide this information?
Uphold must continuously collect updated information from all customers to ensure our records are up-to-date and to remain compliant with regulatory requirements.
What happens if I don’t provide the required information?
If you do not comply with our request, we may be forced to restrict your account or exit our relationship with you. We are keen to avoid these situations, so we ask that you help us to keep your account in good standing by providing the information requested as soon as possible.
How will I receive requests to update my information?
Uphold requests customers to provide information via the Uphold app or via Customer Support ticket. Please rest assured when you receive an email request from support@uphold.com, it’s us!