KYC Policy

INTRODUCTION

Giftershire operating through the website giftershire.com, is dedicated to upholding the highest standards of integrity, transparency, and compliance in the gift card reselling sector. This Know Your Customer (KYC) policy has been established to align with our commitment to regulatory obligations and legal standards.

PURPOSE

The aim of this KYC policy is to ensure adherence to the applicable Money Laundering Regulations and legal requirements within the gift card reselling industry. KYC procedures are implemented for transactions involving the purchase of gift cards valued at 500 EUR or more. This applies to all purchasing methods: Buy for Myself and Buy for a Friend.

CUSTOMER IDENTIFICATION

All customers participating in gift card transactions exceeding 500 EUR must complete a comprehensive identification process.

Before any transaction is initiated, Giftershire will collect and verify key customer information, which includes, but is not limited to:

  • Full legal name

  • Residential address

  • Date of birth

  • Contact details.

The verification process requires the submission of valid documents:

Government-Issued ID:

  • Passport

  • Driving License

  • National Identity Card (if applicable)

Proof of Address:

  • Utility Bill (e.g., electricity, water, gas)

  • Bank Statement

  • Council Tax Bill

National Insurance Number:

Provide your National Insurance number, which serves as a unique identifier for tax and social security purposes.

Proof of Income:

  • Payslip

  • P60 or P45

  • Tax Return (if self-employed)

Business Documentation (for business clients):

  • Companies House Registration Certificate

  • VAT Registration Certificate (if applicable)

  • Business Bank Statement

Customer Selfie:

A selfie of the customer holding their identification document is required for additional verification.

Corporate Clients:

Additional documentation may be required, such as Articles of Incorporation and information regarding beneficial owners.

Additional Documents for Non-Residents:

Giftershire is committed to protecting the privacy and security of customer information throughout the identification process. Customers must provide accurate and current information to ensure a smooth and compliant transaction process. Any discrepancies may lead to additional verification steps or suspension of the transaction.

DOCUMENT VERIFICATION

Customers engaging in transactions over 500 EUR must submit valid government-issued identification documents. These documents should clearly display the customer’s photograph, full legal name, date of birth, and other pertinent information.

Giftershire utilizes approved verification methods to assess the authenticity of submitted documents, including advanced document scanning technology and comparisons against reputable databases.

RISK ASSESSMENT

Giftershire employs a comprehensive risk-based approach to identify and evaluate risks linked to customers engaging in gift card transactions exceeding 500 EUR.

Customers will be classified into risk categories, such as low, medium, or high risk, based on transaction volume, frequency, and behavior.

ONGOING MONITORING

Continuous monitoring mechanisms are implemented to dynamically reassess customer risk levels over time, ensuring that risk classifications remain up-to-date.

RECORD KEEPING

Giftershire maintains detailed records of customer identification and transaction details to ensure transparency and compliance. All records are retained for a specified duration as mandated by applicable laws.

STAFF TRAINING

Giftershire acknowledges the importance of well-informed staff in executing effective KYC practices. Regular training programs ensure that employees are knowledgeable about the latest regulatory requirements and best practices.

REPORTING SUSPICIOUS ACTIVITIES

Giftershire has established a system for reporting and escalating suspicious activities. All staff members are required to promptly report any identified or suspected suspicious activities.

LEGAL COMPLIANCE

Giftershire strictly follows all legal requirements concerning the reporting of suspicious activities and maintains thorough documentation of compliance efforts.

REGULAR POLICY REVIEWS

The KYC policy undergoes regular reviews to ensure its alignment with changes in regulations and industry best practices.

CUSTOMER COMMUNICATION

Giftershire is dedicated to transparency and customer understanding. Customers are informed of KYC requirements and can reach out to support at info@giftershire.com.

CONCLUSION

This KYC policy will be reviewed and updated regularly in accordance with changes in legislation and internal procedures at Giftershire.