KYC Policy

Payroid converts customer-held value (gift cards, supported digital assets) into naira and pays bills from customer wallets. Nigerian law, including the Money Laundering (Prevention and Prohibition) Act 2022 and CBN customer due diligence requirements, obliges us to identify our customers, understand their activity, and keep records of both. Verification is also how we protect customers: payouts only go to bank accounts that match the verified identity on the Payroid account.

Verification is tiered. Each level unlocks higher daily and monthly limits, shown in the app under Account › Account limits. The exact limit numbers are enforced server-side and may change with regulatory guidance.

• Level 1: contact. A verified email address (proven by signing in with a one-time code) and a Nigerian phone number on the profile.
• Level 2: identity. A Bank Verification Number (BVN) or National Identification Number (NIN), checked against the national registry through a licensed identity-verification provider. We store only the last four digits of the number, the registered name, and the verification result. We never keep the full BVN or NIN.
• Level 3: face and address. A live selfie matched against the Level-2 identity, and a proof of address (utility bill or bank statement issued within the last three months). Both are reviewed by Payroid's compliance team; automated tooling may assist but a person makes the decision.

• Registry checks (BVN/NIN) complete in seconds and promote your level automatically on a match.
• Human-reviewed steps (selfie, address) are usually decided the same day. The app shows the state of each submission: pending, approved, or not approved.
• If a submission is not approved we say so in the app and you can resubmit. We do not silently discard submissions.
• We may ask for additional information where the law requires enhanced due diligence, for example unusually large volumes relative to your profile.

• Verification evidence (selfie, address document) is stored encrypted; access is restricted to authorised compliance staff and every access is logged.
• Identity numbers are never stored in full. We keep the last four digits plus the provider's verification reference.
• KYC records are retained for at least five years after the relationship ends, as the Money Laundering Act requires. Closing your account does not delete these records; that is a legal obligation, not a choice.
• Our Privacy Policy (payroid.co/privacy) covers the wider data picture.

• Submit only your own identity documents.
• Keep your profile details (name, phone) accurate, because payouts match against them.
• One account per person. Accounts found to be duplicates, opened with someone else's identity, or used on behalf of an unverified third party may be restricted and reported.

Write to support@payroid.co and put “KYC” in the subject. Complaints about a verification decision are escalated to a reviewer who was not involved in the original decision.