General Questions
Q1: What is KYC?
A: KYC stands for Know Your Customer, a process used to verify the identity of customers to ensure they are legitimate and to prevent fraud and money laundering.
Q2: Why has Baxi implemented a new KYC process?
A: Baxi has implemented a new KYC process to enhance security, protect user accounts, and comply with regulatory requirements.
Q3: What information/documents are required for KYC?
A: The required information/documents may include your full name, address, date of birth, valid identification documents (e.g., national ID card, driver’s license), and a clear selfie for identity verification.
KYC Process and Benefits
Q4: How do I complete the KYC process on Baxi?
A: To complete the KYC process on Baxi, download the app, sign up, and navigate to the KYC section. Provide the requested information/documents and follow the step-by-step instructions for verification.
For Baxi POS, the sales agent will assist as soon as the required documents are provided.
Q5: What are the benefits of completing the KYC process?
A: By completing the KYC process, you can enjoy higher transaction limits, enhanced security, and access to additional features and services within the Baxi app.
Q6: How long does the KYC verification process take?
A: The KYC verification process is typically completed within a few business days. You will receive a notification once your KYC status has been confirmed.
Assistance and Support
Q7: What should I do if I encounter issues during the KYC process?
A: If you encounter any issues during the KYC process, please reach out to our customer support team at [ 01-700-8571] or email us at customerservice@mfsafrica.com. We’re here to assist you and resolve any concerns.
Q8: Is my personal information safe during the KYC process?
A: Yes, Baxi takes data privacy and security seriously. Your personal information is encrypted and handled in accordance with industry best practices and relevant data protection regulations.
Q9: Do I need to complete KYC again if I already did it before?
A: If you have already completed the KYC process before, you may not need to go through it again. However, in some cases, a periodic re-verification may be required as per regulatory guidelines.
Q10: What are the risks of not completing the KYC process?
A: There are a few risks associated with not completing the KYC process. First, you may not be able to access all the features and services of the Baxi app. Second, your account may be restricted or even closed. Third, you may be at risk of fraud or identity theft.
We hope these FAQs provide clarity on the new KYC process. If you have any further questions, feel free to contact us via 01-700-8571 or +234-81-772-19404 on WhatsApp.