List of acceptable KYC documents

Know your customer (KYC) is a process where a business verifies the personal details of potential customers and confirms the person is exactly who they’re claiming to be. The KYC process is mandatory in certain industries, including the financial services sector. However, KYC onboarding processes can differ between industries. For this reason, KYC in banking is slightly different to KYC in estate agency or gaming. 

KYC processes have helped companies and service providers reduce instances of fraud and money laundering. Plus, the introduction of eKYC (also known as online/digital KYC) has made the KYC process much simpler and convenient for customers. Now, the process is fast, smooth, and cost-effective for businesses. This means that many KYC challenges associated with the process have largely been overcome.

With online KYC, the user is asked to upload a picture of an officially valid document (OVD), which a piece of software scans. The document’s details are checked against government databases for validity and accuracy. They are also run past an intelligent predictive system to rank the client’s risk profile.

In this guide, we’ll cover 23 acceptable types of KYC documents that customers can provide when businesses follow KYC best practices.

Types of KYC documents

Each government and regulatory body has its own list of OVDs for KYC. However, generally speaking, there are three different types of KYC documents. These are identity proof documents, address proof documents, and income proof documents.

Identity proof documents

Identity proof documents are used to confirm that the individual is real and is legally allowed to access a service. Generally speaking, an original of one of these ten documents is considered an OVD for proof of identity purposes:

1. National ID card
2. Passport
3. PAN card
4. Voter card
5. Driving license
6. Central or state government ID
7. Letter from a recognized public authority or servant
8. Banking book with photo ID
9. Employee ID card
10. University or education ID card

The document you can provide will depend on the service you’re attempting to access. For example, a bank may insist on a passport or driver’s license, rather than a university or education card, as these documents are issued by the government.

In order to be valid for KYC purposes, an identity proof document must contain the following pieces of information:

• Full name
• Document number
• Residential address
• A clear image of the document holder’s face
• Date of birth
• Document issue and expiry date

Address proof documents

Proof of address documents are often used to confirm the address of the person submitting the required information (as the name suggests). In most instances, a customer must provide a KYC document for proof of name and another KYC document for proof of address. This means it is often not possible for the customer to provide a single KYC document as proof of both name and address.

Examples of address proof documents include:

• Passport
• Voter card
• Driving license
• Electricity bill or phone bill with address
• Bank account statement
• Gas bill with address
• Credit card statement
• House purchase deed
• Rental or lease agreement
• Employer’s certificate for residence

These documents can also contain the name of a spouse or housemate

Income proof documents

Finally, these documents are used to confirm the income or salary of the individual in question. On occasion, these documents can also be used to confirm that the person is employed by a certain company.  

Examples of income proof documents include:

• Income tax returns
• Salary slips/pay slips
• Bank statements

List of identity proof KYC documents

If you need to prove your identity before you open a new account with a business or access a service for the first time, you can usually provide any (or more than one of) the following documents:

National ID card

National identity cards (sometimes also known as national identity documents) are compulsory in around 100 countries worldwide. In a further 100 countries around the world, national ID cards are issued on a non-compulsory basis.

However, it must be noted that some countries do not issue ID cards at all. Notable examples include Australia, Japan, and the United Kingdom.

Passport

Passports are official travel documents that are issued by the government. These documents are designed to confirm the personal identity and nationality of the passport holder. It is typical for passports to contain the full name, photograph, place and date of birth, signature, and the expiration date of the passport.

PAN card

Permanent account number cards (more commonly known as PAN cards) are issued by the income tax department in India. As these cards are government-issued, they can be used as identity proof KYC documents.

Voter card

Many countries around the world now issue voter cards (or voter ID cards) to citizens. If you live in a country where voter ID cards are issued, then this card can be used to confirm your identity.

Driving license

Although driving licenses are used to confirm that an individual is allowed to operate one or more types of motorized vehicle, these documents can also be used to verify identities. This is particularly true in countries that do not issue mandatory national ID cards.

Central or state government ID

Any ID that’s issued by a central government or a state can also be used as proof of identity. These documents vary on a country-by-country basis.

Letter from a recognized public authority or servant

In the same manner, letters from recognized public authorities and servants can also usually be used as KYC documents. However, some businesses have different interpretations of what is meant by a ‘recognized public authority or servant’ and may require further information to be supplied.

Banking book with photo ID

Banking books can also be used as identity proof KYC documents. However, they must also be supplied with photo ID so the company can verify that the person providing them with the information is also the account holder.

Employee ID card

Employee ID cards are issued by an individual’s employer. As they’re not government-issued, many businesses will not accept them as a sole proof of identity. However, these cards can often be used as KYC documents when they’re used alongside another form of identification.

University or education ID card

As above, university or education ID cards can usually be accepted as KYC documents when used alongside another form of documentation. They’re often used to prove that the individual is a full-time student or is studying towards a qualification.

List of address proof KYC documents

If you need to prove your address before you access a service, then the following KYC documents are usually valid:

Passport

Although a passport is usually used as an identity proof KYC document, it can also be used as an address proof KYC document.

Voter card

As can a voter card.

Driving license

And so can a driving license.

Electricity bill or phone bill with address

You can also prove your residence by providing the company in question with an electricity bill or phone bill that contains your address. However, the bill you provide must be no more than six months old.

Bank account statement

Much like an electricity bill or a phone bill, a bank account statement can also be used to confirm an address. When using a bank account statement as a KYC document, you may need to provide a physical copy issued by the bank rather than a PDF or a screengrab.

Gas bill with address

Gas bills can also be used as address proof KYC documents, as long as they’re no more than six months old and contain the person’s full current address.

Credit card statement

Credit card statements are accepted as proof of address KYC documents. Like with bank statements, they usually need to be physical copies that have been issued by the credit card company.

House purchase deed

If you’re a homeowner, you can use a house purchase deed to prove your residential address.

Rental or lease agreement

Rental or lease agreements can be used to prove your address. With a rental or lease agreement, you may also need to provide three months of rental receipts.

Employer’s certificate for residence

If you’re employed, then most companies will also provide a certificate for residence. Your employer will include some basic information about you and your employment status and provide details of your address.

List of income proof KYC documents

If required, income proof KYC documents can be issued by employers. You may also be able to provide tax summaries. Options include:

Income tax returns

In order to prove your income, a company may ask you to provide them with a copy of your submitted income tax return.

Salary slips/pay slips

Similarly, if you need to prove how much you earn from a single employer, you can provide a company with copies of your salary slips or pay slips. Companies will usually ask for pay slips that cover the past three months and use an average of your earnings.

Bank statements

Finally, if you need to prove that your incomings are more than your outgoings, then you can supply a company with copies of your bank statements.

See how Veriff’s KYC compliance solutions can help you - book a demo

If your company needs to implement KYC processes and verify the identities of its customers, then we can help you.

Our AML screening tool will reduce risk for your business at every turn. It helps you maintain regulatory compliance while also improving your customer conversion rates. By employing our identity verification service alongside politically exposed person (PEP) and sanctions checks as well as media screening and ongoing monitoring, it provides you with a complete view of your customers and their risk profile.

To discover more about how our solution can help your business comply with AML and KYC regulations, speak to our experts today. We’d love to provide you with a demo that shows exactly what our AML screening solution can do for you.