What is KYC, and why we ask for your NIN
KYC means Know Your Customer. It's how money apps confirm you are who you say you are. Here's what JOYET asks for, why, and how your data is kept safe.
When you join a money app, you're asked to verify your identity. This is called KYC, short for Know Your Customer. It can feel like a hassle, but it protects you more than you might think.
Why KYC exists
- It stops people opening accounts in your name.
- It makes fraud and scams harder, because accounts are tied to real, verified people.
- It's required for financial services that move money in and out of the banking system.
What JOYET asks for
JOYET uses tiers. The more you verify, the more you can do.
- Tier 1: a new account with basic details. Good for getting started.
- Tier 2: verify your NIN (National Identification Number). This raises your daily limit.
- Tier 3: a government ID, a selfie to match your face to the ID, and proof of address (for example a recent utility bill or bank statement). This unlocks full access and the highest limits.
You can see your current tier and how much you can spend today on your Account tab.
Why the NIN?
Your NIN is how Nigeria identifies a person. Checking it against official records is the quickest way to confirm that the name on your JOYET account is really yours.
How your data is kept safe
- Your documents are stored privately. They're never public, and only a small number of authorised staff can view them.
- Every staff view is logged, so there's a record of who looked at what.
- We don't sell your personal data.
Watch out for fake "verification"
JOYET only asks for documents inside the app. If someone on WhatsApp, Telegram or email asks for your NIN, BVN, ID or selfie "to verify your JOYET account", it's a scam.
JOYET is launching on Android and iPhone. Join early access on joyet.site and we'll send you the download link first. Questions? Email hello@joyet.site.
