About account verification
Account verification is necessary for our payment provider's legal KYC (Know your customer) obligations to fight fraud, money laundering and the financing of terrorism.
Know your customer (KYC) is the process of a business identifying and verifying the identity of its clients. Know your customer policies are globally important to prevent identity theft, financial fraud, money laundering and terrorist financing.
KYC is legally required for any provider of financial services. At Flattr, our payment service provider MANGOPAY SA (seated in Luxembourg) takes care of all transactions. MANGOPAY SA, not Flattr, receives all KYC information. The KYC information is stored only on MANGOPAY's servers.
To be able to receive money from Flattr you have to provide a basic set of account details. To be able to withdraw said money you need to perform a full account verification. This is done by supplying one or more documents pertaining to the Flattr account holder. The process differs a bit depending on account type (if you are an individual, organization or business) but is always the way for us to verify that the account holder exists and is the one stated in the account details.
You can do this at any time and you are never required to verify your account, but you cannot withdraw any revenue if you do not.
In some special cases, additional documents may be requested, in most cases related to our/your bank taking extra precautions by verifying some details. We will contact you directly in these rare cases.
If you want to read more the KYC article on Wikipedia is a good starting point.