Why do you need my BVN, bank account details and personal information?

Why do you need my BVN, bank account details and personal information?

To comply with KYC/Anti-money laundering laws both in Nigeria and around the world with our partners, we need some of your personal information.

This includes your Name, Address, BVN/Banking Details and records verifying your identity. This is to keep you, the platform and the markets safe and free from bad actors. This information is also required for appropriate oversight by both local and global regulators.

All website traffic is encrypted and protected by using AES bank level encryption. This provides security between your device and our servers ensuring your personal and transaction details are always kept private.

    • Related Articles

    • How do I fund my account instantly through bank transfer?

      With your virtual account number, you can fund your global or local wallet in one simple, quick transfer - it’ll only take seconds.  Here’s how to retrieve your virtual account number on Chaka: i. Update your Chaka app (if you have not updated it ...
    • SmartInvest: How do I download my account statement?

      To get your monthly portfolio statements, follow these steps: Step 1: Click Account at the bottom of your screen, then proceed to click Statement on the account page Step 2: Click Statement on the page and proceed to download your statement for the ...
    • How to get verified and start trading on Chaka

      Now that you’ve signed up on the Chaka App, It’s time to verify your brokerage account. To get verified for your local and global trades, you are required by regulatory authorities to complete the KYC process. What is KYC? Know Your Customer (KYC) is ...
    • How Do I Receive Dividends on Local Stocks?

      Nigeria’s capital market regulator, the Securities and Exchange Commission (SEC), require that Registrars pay investors' dividends to their bank accounts. Investors are required to fill their respective Registrar's e-mandate form (you can download ...
    • Why were my verification documents not accepted?

      Our US & Nigerian brokerage partners require that we verify your identity to safely open your brokerage account. Here are a few reasons why your documents might not be accepted:  Rejected Info  Photo ID Photo ID 1. Blurry Document The details on the ...