To keep your account secure and comply with financial regulations, Bayse requires Know Your Customer (KYC) verification for deposits, withdrawals, and certain account activities.
This helps protect your funds and ensures a safe platform for all users.
Why KYC Is Important
KYC helps to:
Prevent identity theft and fraud
Ensure only you can access and withdraw your funds
Stop unauthorized or third-party transactions
Enable smooth deposits and withdrawals
How it Works
Bayse uses a tiered KYC system designed to protect users while keeping the process simple.
This system verifies your identity early and prevents misuse of bank accounts for deposits.
KYC Tier 1- Basic Verification (Required for First Deposit)
When you attempt your first naira deposit, you will be asked to complete Tier 1 verification.
What You Need:
Your BVN or NIN
Your Date of Birth
How It Works:
Your identity is securely verified and stored
Every time you make a deposit, the name on the bank account is checked against your verified identity
What This Means:
If the name matches, your deposit will be successful
If the name does not match, the deposit will be automatically refunded to the sender’s bank account
This ensures that you can only deposit using accounts that belong to you.
KYC Tier 2 - Full Verification (For Higher Withdrawals)
Tier 2 verification is required when:
You reach a certain threshold in withdrawals, or
You choose to verify your account manually from your profile
What You Need:
Your BVN and NIN
A face verification (selfie check)
What You Get:
Higher withdrawal limits
Full access to all platform features
How to Complete KYC
You can complete your verification at any time:
Go to More → Profile → Verify Account
Enter your details and upload required information
Submit for verification
Most verifications are completed within 24 hours.
Deposit Rules You Should Know
You must deposit using a bank account that matches your verified identity.
Deposits from third-party accounts are not allowed
Any deposit with a name mismatch will be automatically refunded
Withdrawal Access
After completing Tier 1, you can trade and withdraw up to ₦100,000 cumulatively
To withdraw beyond this, you must complete Tier 2 verification
Important Notes
Your information is securely stored and protected
You can choose to complete full verification anytime from your profile
Verification helps prevent fraud and keeps your funds safe
Need Help?
If you experience any issues during verification, please reach out via the in-app support channel with details of the issue.