Before we can open a savings account for you with our bank partner, BBVA, we need to go through the Know Your Customer (KYC) process. This means collecting your legal information in order to verify your identity.
The required legal information includes: your legal first and last name, date of birth, social security number, and legal address. Most of the time, the verification process happens in a few seconds, and we're able to open your new savings account immediately.
Sometimes, particularly if you've entered different legal information from what is verified across multiple government databases, we're required to ask for additional information from a legal form of identification like a state ID or a passport. This additional review process can be manual and take up to 5 business days to verify.
Catch will inform you directly, if we are unable to support you as a user, due to KYC. This means we're unable to open a new savings account for you, most likely due to incorrect legal information, your response to Catch's required regulatory questions, or prior banking history.
If you believe there was an error in this process or that you entered your legal information incorrectly, please login to your Catch account, visit your profile page, review and edit any personal information that could be incorrect. Please also reach out with any questions.