Account Verification Requirements (KYC) - Australia

Easy Crypto is a registered Digital Currency Exchange (DCE) and as such we have to undertake identity verification to ensure the security of your account and the integrity of our exchange (as well as the digital currency ecosystem).  Rest assured that any information we collect is securely encrypted and used only for the purposes of verification.  You can see our Privacy Policy regarding this here.

The quick version (TLDR)

If you have an Australian Driver's License or Passport, then you will be good to go, just follow the prompts to be verified within a few hours.  You can start verification here.

The in-depth version

There are multiple categories you or your business/trust may come under. The following will summarise our requirements.  (Please note, if you are based in New Zealand or wish to apply using New Zealand documents and buy in AUD, that is acceptable, please see this section at the bottom of this article for requirements).


Individuals

Must be over the age of 18 years and based* in Australia.

Acceptable Documents for electronic verification:

  • Australian Driver's License
  • Australian Passport

Acceptable documents for non-electronic verification

  • A license or permit issued under a law of a State or Territory or equivalent authority of a foreign country for the purpose of driving a vehicle that contains a photograph of the person in whose name the document is issued
  • A passport issued by the Commonwealth
  • A passport or a similar document issued for the purpose of international travel, that: (a) contains a photograph and the signature of the person in whose name the document is issued; (b) is issued by a foreign government, the United Nations or an agency of the United Nations; and (c) if it is written in a language that is not understood by the person carrying out the verification - is accompanied by an English translation prepared by an accredited translator.
  • A card issued under a law of a State or Territory for the purpose of proving the person’s age which contains a photograph of the person in whose name the document is issued.
  • A national identity card issued for the purpose of identification, that: (a) contains a photograph and the signature of the person in whose name the document is issued; (b) is issued by a foreign government, the United Nations or an agency of the United Nations (c) if it is written in a language that is not understood by the person carrying out the verification – is accompanied by an English translation prepared by an accredited translator.

*Based in Australia: Definition: You reside in Australia as a citizen/permanent resident OR work, investment, study, tourism.


Sole Traders/Partnerships

Beneficial owner/s must be over the age of 18 years and be individual/s residing in Australia. Sole traders must complete personal identification verification and provide proof of holding a current ABN.  Partnerships require beneficial owner identification verification, proof of a current ABN and a partnership agreement.

Acceptable Documents required for Beneficial Owner electronic verification:

  • Australian Driver's License
  • Australian Passport

Acceptable documents for non-electronic verification:

  • As per individuals above

Proof of ABN document required:

  • ABN confirmation advice
  • Extract of your ABN details

Proof of partnership agreement:

  • Contract
  • Legal agreement


Companies

Beneficial owner/s must be over the age of 18 years and be Australian Resident/s.  Companies must advise of and prove beneficial owners via company structure.  Beneficial owners must complete personal identification verification.  Easy Crypto requires proof of Companies Registered Office, whether the Company is Proprietary or Public, if it is listed on a market or exchange and if it is regulated by a Governmental Body.

Acceptable Documents required for Beneficial Owner electronic verification:

  • Australian Driver's License
  • Australian Passport

Acceptable documents for non-electronic verification:

  • As per individuals above

Proof of ACN:

  • ASIC extract

Proof of Companies Registered Office

  • Bank statement with Company name and address visible
  • Correspondence with Company name and address visible
  • ASIC documents with Company name and address visible

Proof of Company Structure

  • ASIC extract with organisational chart (chart only if available to expedite verification)

Proof of Public status

  • Public document issued by company (such as annual report)

Proof of Regulator status

  • Registration number (e.g DCE number or AFSL number)

Trusts (including Self Managed Super Funds)

Beneficial owner/s must be over the age of 18 years and an Australian Resident/s.   Trusts must advise of and prove beneficial owners, prove ACN/ABN, provide trust deed and trust name and address.

Acceptable Documents required for Beneficial Owner electronic verification:

  • Australian Driver's License
  • Australian Passport

Acceptable documents for non-electronic verification:

  • As per individuals above

Proof of ABN/ACN:

  • ASIC extract
  • ABR extract

Proof of Companies Registered Office

  • Bank statement with Company name and address visible
  • Correspondence with Company name and address visible
  • ASIC documents with Company name and address visible

Verification options for New Zealand customers

New Zealand customers are welcome with open arms here in Australia too!  For instance, you may work in Australia, reside in Australia temporarily, have investments in Australia or other Australian vested interests.  To apply with us with New Zealand details we can complete the following depending on your status:

Already verified with Easy Crypto New Zealand:

  • We will complete a check with Easy Crypto New Zealand, only receiving information from the Compliance team for the purposes of ensuring your identity is verified and you have a good record with the Company
  • We will require proof of your Australian address.  Your address proof can be a bank statement or other document that has your full name and address on the one document.
  • We will ask you for proof of your Australian bank account - this document requires your name, BSB, and account number on it, all visible in the one document.
  • We may run further checks as deemed necessary to ensure you are safely on-boarded with us in Australia

Not verified with Easy Crypto New Zealand:

  • We will ask you for a New Zealand Passport or License.  This will be verified against New Zealand based identification providers for authenticity.
  • We will ask you for proof of your Australian bank account - this document requires your name, BSB, and account number on it, all visible in the one document.
  • We may run further checks as deemed necessary to ensure you are safely on-boarded with us in Australia

If you already have an account in NZ but wish to sign up for an Australian account as well (buying in AUD), head here.


Note:  Easy Crypto employees may ask to call you or complete a video call for your account security for verification.