In order to go any further with your Karatbars business you need to upload ID or identification documents to make sure that you are a legitimate person. These documents are known as KYC or Know Your Customer documents. You need 2 documents.
Just be aware you won’t be able to receive any gold or receive any affiliate commissions until these have been uploaded and verified by Karatbars staff.
Here is a video that explains step by step what to do.
The first thing to do is log into your account. Then click on profile from the top tab and when the dropdown list flows down click on “KYC”.
The first document is one with a photograph that proves who you are. This is usually a passport of drivers license and in some countries may be a country ID, as long as it has your photograph on it and matches the name you have registered with. This form of ID must have a photo, your name and your date of birth.
The second document is a proof of address and may be a utility or phone bill or a bank statement. The address on this bill must match the address you have entered in your Karatbars registration form and must be less than 6 months old. This is the address your gold will be delivered to.
These 2 documents must be in 2 separate files and can be in JPG, GIF, PNG or PDF format. You can scan them or if you have a phone with a camera you can just take a picture.
Also be aware the files must be less than 10 MB in size. 10 MB is actually quite a large file so it shouldn’t be a problem. However, if you have created a JPG and it is too large you can convert it to a PDF which will generally make it smaller. If you have a PDF and it is too large try saving it as a reduced size PDF.
If you are not sure of the size of your document right click on the document and a property box will open up and you can check the size here as well as the document type.
If you need any help in reducing file sizes don’t hesitate to contact us and we will help you.
Once you have your 2 ID files ready you need to upload them.
Click on the dropdown box that says “KYC Document Upload” then select “Proof of ID”. Click on Browse and locate where the document is stored on your computer. Then click “Upload Chosen File”. Once the file has uploaded it should show up below the “KYC Approved” line with the date, type of ID, name of file and will show as pending.
You can now repeat this process with your “proof of address ID”
Make sure you upload your photo ID under “Proof of ID” and your address ID under “Proof of Address” else they won’t get approved and you will have to re upload them.
Sometimes it only takes a few hours to get your ID approved but sometimes it may take a few days depending on how busy Karatbars is and how clear your ID is. Also it may depend on where in the world you live and the time zone because you may be uploading your documents when Germany is asleep or on a weekend and you will have to wait for Karatbars working hours.
As always if you have any problems don’t hesitate to contact us so that we can help you.
John and Linda