On sign up, we collect some personal information to help us identify who you are.
It's important we do so as we are a regulated money service business and this is a requirement for operating our kind of service in Canada.
It’s the law.
Once you submit your information, we run an identity check that is known as a "soft pull”.
A soft pull is restricted only to Name, Address, and Date of Birth in order to match the information found on the credit bureaus’ database. The nature of this pull is that only you, as the owner of your credit bureau report, can see this inquiry. It does not affect your credit score.
If the check passes, your identity will automatically be verified on Shakepay. If it fails, we'll need you to share some documents to help verify your identity.
Please Note: Customers can only open one personal Shakepay account.
Why do I have to verify my identity?