Know Your Customer (KYC) & Vetting Process

Certain account types, specifically those that can receive consumer-initiated contributions, require a higher level of consumer vetting before an individual can open an account. This vetting is intended to both protect against potential fraud and to help combat broader criminal activity in accordance with federal regulations.

During the application review process additional information may be required by Lynx and our financial partners to complete the vetting process. When additional documentation is required in association with an enrollment the account enrollment status will be identified as “Awaiting Documents” along with the element that needs to be verified. The type of information that needs to verified is broken into 3 categories including Identity Verification, Address Verification, and SSN Verification. Each of these verification types have approved documents that are required to clear the verification step and allow for the account to be created, these documents are:

Verification Needed	Acceptable Documentation	Comments
Address Verification	Valid Driver's License or State ID Secondary Docs: Lease Agreement Bank Statement Insurance Statement or Bill Bank Statement	If driver license is unable to be verified, a secondary form of documentation is requested from the member for Address Verification
SSN Verification	Social Security Card Secondary Docs: W-2 1099 Filed Tax Return	If the Social Security Card is unable to be verified, a secondary form of documentation is requested from the member for SSN Verification When using a W-2 or Tax Return to validate a member's SSN the documents must be within the past two filing years
Identity Verification	Valid Driver's License or State ID Secondary Docs: Passport Military ID US Visa Card	If driver license is unable to be automatically verified, a secondary form of documentation is requested from the member for Identity Verification