GCash is the commonly used app and when we talk about GCash security we must hear about KYC. But a question arises What is KYC in GCash? What are the benefits of KYC and How do you verify your GCash KYC? You get everything here but only if you stay with us. GCash KYC stands for “Know Your Customer”. It is a process of identity verification that enhances the security of your daily transactions. A KYC GCash is a verified account that prevents the user from fraud and unauthorized transactions
kYC Meaning
KYC is abbreviated as “Know Your Customer”. It means that every user of the GCash is fully verified to assess strong security and all features. All the users are identified and ensure your amount from money laundering. All the users must have to implement the KYC verification. GCash plat becomes trustworthy after the KYC verification. However, it may cause a problem if the process is not properly completed.
Steps to Verify GCash KYC
Follow these steps to verify your GCash KYC;
- Open the GCash app and log in to your account.
- On the bottom right corner tap on “Profile”.
- Click on “Verify Now” and then press the “Get Started” button.
- Ready your “Valid ID card”, and press the “Next” button.
- Ready for a “Selfie Scan” and press the “Next” button.
- Prepare your information, fill in all the required fields, and click Next.
- You receive a 6-digit code at your mobile number that is registered with your GCash account.
- Enter your date of birth and confirm whether you are a citizen of the Philippines or not.
- Choose a valid card that you want to use for your verification.
- Read the tips for uploading your ID picture and tap the “Select ID” button.
- Hold your ID card and scan it.
- Now it’s time to get ready for a selfie scan and press the “Next” button.
- Capture your selfie that helps to identify you easily. Make sure to capture it without the mask, cap, glasses, etc.
- Review and verify your information. After that press the “Next” button.
- Now you are finally on the confirmation page. This page confirms that your application is fully verified.
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Required Documents for GCash KYC Verification
The applicant who wants GCash KYC verification must fulfil these requirements;
- Valid ID Card: The applicant must have a clear front and back image of a valid ID card.
- Selfie Scan: Applicant has to capture a clear image without any item that disturbs your identity verification like glasses, mask, etc. The image also matches your ID documents.
- Documents: The applicant can also attach some additional documents like bills as residence proof.
How Long Does the Verification of GCash KYC Take?
The verification of GCash KYC takes some time that varies according to the condition;
- Automated Approvals of your verification are mostly done in 24 to 48 hours.
- Manual Reviews may be delayed for 3 to 7 days if some additional documents are required.
- Due to any issue, Re-submission may take 2 or 3 days.
- Re-verification of government-initiated mass could be delayed for a longer time.
Does KYC Verification Expire?
After the full verification of your account, you don’t need to verify it again and again. You have to repeat this process unless;
- You update the registered ID documents.
- If the facial comparison fails down, then you need to re-verify your account.
- For security measures, re-verification after a period is beneficial.
- Any change in your account needs additional confirmation of KYC.
Key Points of GCash KYC
- KYC verifies your identity.
- It enhances transaction security.
- Protect the users from fraud.
- It requires your valid ID card and selfie scan.
- The process is automated but still manual reviews are required.
- Accurate information for verification is never rejected.
- Account functionalities are limited without verification.
- It almost takes 1 to 7 days for processing.