Account onboarding
Identity may be checked before an account is approved or platform functions are enabled.
AML & IDENTITY VERIFICATION
Why identity checks may be part of your account journey.
Canadian providers may need to understand who is opening an account, how it will be used and where funds originate.
WHEN KYC BEGINS
Verification happens before sensitive account activity.
The timing depends on the responsible provider, risk assessment and requested service.
Funding and withdrawal
Ownership of a bank account or payment method may be verified before accepting or releasing money.
Trading activity
Unusual transactions or a material change in account use may lead to further questions.
Periodic review
Expired documents or changed personal information may require the account record to be refreshed.
INFORMATION REQUESTED
Only what is relevant to the check.
A provider may request your legal name, date of birth, residential address, occupation, government-issued identification and information about the source or intended use of funds.
Additional questions can be required for businesses, trusts, politically exposed persons or transactions that need clarification.
Do not email sensitive documents without direction
Use the secure verification channel identified during onboarding. Never provide a password, authentication code or banking PIN.
WHO PERFORMS THE CHECK
The responsible party must be identified.
Depending on the service, verification may be conducted by the account provider or a specialised identity-verification service acting under contract.
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01
Notice
You should be told which organisation requests the information and why it is needed.
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02
Secure collection
Documents and biometric or device data, if used, should move through the identified secure service.
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03
Assessment
The provider compares supplied information with reliable sources and may ask for clarification.
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04
Decision and retention
Access may be approved, limited or declined. Records are retained according to legal and operational requirements.
How this connects to security
Identity verification can also be used during account recovery or review of a suspicious transaction. The process should remain consistent with the controls described on the Security page.
Your responsibilities
Provide accurate, current information and respond through official channels. Attempting to avoid checks, use another person's documents or disguise the source of funds may result in restriction or closure.
Privacy and third parties
Third-party verification providers receive only the information necessary for their role under applicable arrangements. Categories, purposes and rights are described in our Privacy Policy.
YOUR NEXT STEP
Build a more considered investment plan.
Request access to review available tools, eligibility and onboarding with a Corvenhall specialist.
By creating an account, you agree to our Privacy Policy and Terms of Use.