What is KYC?
Registration or KYC “Know Your Customer” is a mandatory verification procedure carried out by banks and financial institutions to guard against illegal activity. Banking providers require this process to ensure the safety of all customers on the platform.
Why does Dibbs need all of this information?
We require that all users submit ID verification in order to be compliant with our banking partner's KYC and AML(Anti Money Laundering) requirements. These details are required in order to ensure the security of all users on Dibbs.
Why do I need to upload my SSN?
In order to be compliant with our banking partner, a SSN is required to verify a user's identity. Without providing a SSN, you cannot register for Dibbs.
Why is KYC taking so long?
Our approval process typically takes just a few minutes. In rare cases, however, our banking provider must manually verify the user's identity which can sometimes take a few weeks. The status that I'm seeing is that some of your profile information couldn't be automatically approved, so they need to verify it manually. Unfortunately, these rare instances are out of our control as our banking provider controls the kyc process. We understand how frustrating the wait is, and we apologize for the delay. You will receive an email once your submission has been manually approved. Thank you for your patience!
Who is Primetrust?
Primetrust is our banking provider. Primetrust is a technology driven financial institution that provides compliance, identity verification and processing services.