At Vestd we run ID checks against certain users of a company.
- When a company joins Vestd we will run a check against the person setting up the company, we will also run an ID check against all Admin users of the company. (see below)
- We also run checks against a company's Persons of Significant Control. These are people with a large shareholding or some other level of control over a company.
Directors, shareholders and Admin users with limited control of a company won't get checked as they don't have the ability to make any changes or have been invited by a previously ID checked user. If the Admin user setting up the company is not a Director, and then a Director ID document would also be required.
We use a variety of partners to complete ID checks but you will typically be asked to share a photo of your ID documents and a photo of yourself. If you are asked to share images of more than one document it is essential the names on the documents match.
The ID checks we run are known as soft ID checks, these don't have an impact on your credit record.
Why does Vestd request ID verification for Admins?
Here at Vestd, we take your data protection and the management of your share schemes seriously. As an FCA-regulated company, we have a responsibility to know and verify anyone who has permissions that allow them to make changes to your sensitive information.
Our team, content and app can help you make informed decisions. However, any guidance and support should not be considered as 'legal, tax or financial advice.'