Regulation
KYC Verification Explained: Why We Check Your ID
📅 May 2026·⏱ 4 min·✍️ LanovaPay Team
KYC stands for "Know Your Customer" — it's a legal requirement for all UK financial services companies. Here's why we do it and what to expect.
Why KYC Exists
UK law requires money transfer companies to verify the identity of every customer. This prevents money laundering, terrorist financing, and fraud.
What We Check
- Government-issued photo ID (passport, driving licence, BRP)
- Proof of UK address
- Biometric liveness check (a quick selfie)
How Long Does It Take?
Our digital KYC process takes under 5 minutes. Most verifications are completed instantly. In rare cases, manual review may take up to 24 hours.