KYC simply means: Know Your Customer
It is a government regulation that requires that financial institutions must obtain adequate information of its customers to enable them to have a robust overview of their activities. Financial institutions are expected to record some Personally Identifiable Information (PII) of its users and examples of PII are verified phone number, full name, gender, date of birth, house address, passport, etc.
As a responsible financial institution, Paga ensures to have all or some PII of a customer before their very first transaction.
There Are 3 Levels To It
Depending on the information a Paga wallet customer is able to provide, government regulation requires that all Paga accounts should be categorized based on transaction/balance limits below:
How To Increase Your Limits
Paga doesn’t have a physical office/branch like your regular bank where you go to fill those long forms with multiple pages — so we have made it pretty simple to enter/upload your account KYC information by yourself.
You can do this in 3 steps on the Paga App
That’s it and you are good to go 🚀
Don’t have a Paga account? Download the app & register for free today 🧡