When transacting on Treasury, there's one important detail to keep in mind, which is that the name on your bank account must match the name registered in your KYC data.

It might seem like a small thing, but this detail plays an important role in making sure your transactions, from adding a bank account to withdrawing funds, go through safely and without any issues.

Why Does Your Account Name Need to Match Your KYC Data?

KYC, or Know Your Customer, is the identity verification process you go through when registering on Treasury. Through this process, Treasury confirms that the account truly belongs to you and is safe to use for transactions.

That's why any bank account you add to your Treasury account also needs to use the same name as the legal name in your KYC data.

For example:

• Name on KYC: Jonathan Tan
• Bank Account Name: Jonathan Tan

This is considered a match ✅

However, if the names differ, for example:

• Name on KYC: Jonathan Tan
• Bank Account Name: Tan Jonathan

Then your transaction may be delayed or unable to be processed during verification ❌

Why Does This Matter?

Matching your account name with your KYC data helps prevent issues and ensures a smoother transaction experience.

1. Keeping Your Transactions Secure

Treasury needs to ensure that funds are only sent to accounts belonging to verified users. This is important for reducing the risk of fraud or unauthorized transactions.

2. Avoiding Delays in Fund Withdrawals

If your account name doesn't match your KYC data, the system will need to carry out additional verification. As a result, the withdrawal process will take longer.

3. Making the Verification Process Easier

A matching name helps the verification process move faster, which means your transactions can be processed more smoothly.

What Happens If the Names Don't Match?

If the name on your bank account doesn't match your KYC data, the following issues may occur:

• The account fails verification
• The fund withdrawal process is delayed
• Additional documents are required to complete the verification process. As a result, your withdrawal request may be delayed. 

To avoid any disruptions to your transactions, make sure your account details are correct from the start.

Make Sure to Check These Things

Before adding a bank account on Treasury, make sure that:

• The account is strictly registered under your own name
• The account name matches your KYC data
• The account is still active and able to receive transfers

This quick check can help you avoid any issues when transacting.

A Simple Step for Safer and Smoother Transactions

Ensuring that your account name matches your KYC data is a simple yet important step in maintaining secure and seamless transactions.

Before adding a bank account or initiating a withdrawal, please take a moment to verify that your account details are accurate. This helps prevent delays and ensures that your transactions are processed efficiently.

Accurate information plays a key role in your overall experience with Treasury. We recommend reviewing your details to ensure all transactions proceed smoothly.