In order to open a Nook wallet, your directors and UBOs will need to pass through certain verification checks to verify their identity. We are required by regulations to carry out these checks. They are important to help prevent fraud from taking place and are ultimately in place to protect you.
What checks do we carry out?
We require at least one director to verify their identity, and, depending on the nature of your company, all UBOs with over 10%, 15% or 25% of the company will need to be verified.
Once you have set up an account in Nook, we'll guide you through who needs to be verified and how to do it but in summary you will be asked to upload the following documents:
1. a selfie; and
2. a photo document to verify your identity. Please note this must be a photo and cannot be a scan.
In certain circumstances, you might be asked to upload additional documentation and we'll let you know if this is the case.
If you have any questions on the verification process, please contact us at support@nook.io