Why does Yoco insist on Identification?
The Financial Intelligence Centre Act (38 of 2001) or ‘FICA’ was introduced to help fight financial crimes such as money laundering and the financing of terrorist activities in South Africa. The Act requires Yoco to identify persons correctly or, to ‘FICA’ the person, through verifying or obtaining proof of a person’s identity (i.e. your Identity Document or Passport).
Suitable Identity Documents:
To verify your identity, we need a clear photo of your original and valid (not expired) Identity Document — uploaded to your Yoco App or Business Portal.
You can use any of these documents:
South African IDs:
Green ID book, or
Smart ID card, or
Barcoded Passport
*Note - Not drivers' licenses.
International IDs:
Passport, and Work Visa (valid, not expired).
If you submit a Document that can expire (especially International IDs/ Passports), please note that you’ll need to repeat this step every time your documents are renewed so we always have the current, valid version.
How to Submit your Identity Document:
Log in to your Yoco App or Business Portal. The email you used to sign up is your username, with the password you created.
Select 'Complete Setup' from the navigation menu on the left-hand side via desktop, or on your home screen for mobile.
Select 'Confirm your identity'.
4. Select which document you'd like to scan. Make sure you take a clear image when scanning your document, and only use the original:
If you're using your South African smart card, you'll need to scan the front and the back.
If you're using your South African green book, please turn your camera horizontal to scan.
5. You'll then be prompted to take a selfie to compare with your upload:
6. You'll finish the process by submitting the identification and selecting "Done" to go back to the Complete Setup screen:
That's it! Look out for an email from Yoco letting you know your identification process has been approved, or with any next steps.
Have you added your bank details? We'll need this before we can activate payout. Click here to add your bank details.