KYC Checks and High-Value Donations

Enthuses Know Your Customer checks and obligations for high value donations

Emma Smith avatar
Written by Emma Smith
Updated over a week ago

“Know Your Customer” obligations

Our regulators require payment providers to collect certain information from account holders to prevent abuse of the financial system, and this requirement varies from country to country. When an account is created, the system will prompt the user to provide the required details for that country. You must keep the details in your Account current by promptly updating your information with any changes.

The information payment providers are required to collect differs from country to country, and typically includes (but is not limited to):

  • The individual creating the account

  • The business associated with the account

  • Any individuals who ultimately own or control that business

We may also reach out periodically to confirm that information on your account is still accurate.

High-Value Donations

Donations Over €15,000

For donations that exceed €15,000, we are required to conduct more thorough checks.

Why are additional checks necessary?

We are committed to transparency and accountability. We want to ensure that all donations we process are legitimate and comply with our policies and values. Therefore, for larger donations, we need to conduct more thorough checks to verify the source of the funds and ensure that they align with UK Law.

What does the process involve?

If your donation exceeds €15,000, our team will reach out to you to request additional information. This may include documentation to verify identity and proof of income. We may also conduct background checks to verify the legitimacy of the donation.

How long does the process take?

The duration of the process may vary depending on the complexity of the donation and the information provided. However, we strive to complete the checks as quickly as possible to minimise any delays in processing donations.

Thank you for your understanding

We understand that the additional checks may cause some inconvenience, but we appreciate your understanding and cooperation in this matter.

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