All Collections
Legal & Compliance
Safe Haven MFB
KYC on Safe Haven and How It Works
KYC on Safe Haven and How It Works
Written by Blessing
Updated over a week ago

What is KYC (Know your customer)?

KYC refers to verifying customers' identities to prevent fraud, money laundering, and illegal activities. On Safe Haven, completing your KYC obligation unlocks additional benefits.

There are three (3) levels of KYC on the SafeHaven account:

Level 1 (Phone Number Accounts)

Single Transaction Limit: N10,000

Daily Transaction Limit: N50,000

Level 2 (BVN Accounts)

Single Transaction Limit: N100,000

Daily Transaction Limit: N200,000

Level 3 (Full KYC Accounts)

Single Transaction Limit: N1,000,000

Daily Transaction Limit: N10,000,000

The transaction limit on your Safe Haven account is determined by your KYC details. To increase your transaction limit, simply update your KYC information.

How to update your KYC

To update your KYC information and increase your transaction limit, please follow these steps:

Step 1: Sign In to your Safe Haven MFB account.

Visit the Safe Haven MFB website and sign in using your login credentials.

Step 2: Navigate Settings.

Click on Settings on the left-hand side of your screen on a desktop or click on the hamburger menu button at the top left-hand corner of your screen.

Step 3: Upload Documents

From the options provided on your screen, click on Document Upload and go ahead to upload the required documents to complete your KYC update. These documents are a Passport photograph, National ID card, Signature, and Utility bill/account statement.

Ensure you have uploaded all the necessary documents to reach the highest KYC level, once your documents have been reviewed and approved by the compliance team, your account will be updated. Have further questions or need assistance? Please don't hesitate to reach out to our customer service team via email at [email protected] or send us a message via Intercom or Twitter (@safeHavenBank).

Did this answer your question?