Verifying your business (KYC)

KYC confirms who you are so Crate can raise your payout limits. Submit your BVN for Tier 1, add your CAC details for Tier 2, and unlock higher daily withdrawals.

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KYC — Know Your Customer — is how Crate confirms that the person collecting payments is really you. It's a one-time identity check that protects every merchant on the platform from fraud, keeps Crate compliant with Nigerian financial regulations, and — most usefully for you — raises how much you can withdraw each day.

You don't need KYC to start selling. You need it when your sales grow past the default limits and you want larger, faster payouts.

The two tiers

Crate follows the Central Bank of Nigeria's tiered framework, so there are exactly two levels:

Tier 1 — verified with your BVN. Unlocks up to ₦1,000,000 per day. The account you withdraw to must match your profile name.
Tier 2 — Tier 1 plus your CAC business name and RC number. Unlocks up to ₦5,000,000 per transaction and ₦10,000,000 per day, and lets you withdraw to a business account.

What you'll need

For Tier 1, just your 11-digit BVN. For Tier 2, also have your registered business name and RC number from your CAC certificate ready. If you don't have CAC registration yet, do Tier 1 now and come back for Tier 2 after you register — nothing is lost.

After you submit

Your submission goes into review and the KYC page shows a "Submission under review" note while our team checks it. We email you the outcome within 24–48 hours. Once approved, your higher limit is live immediately — there's nothing else to switch on.

Note: After verification, the name on your account is locked to match your BVN. That's a fraud safeguard. If something needs correcting, contact support.

1

Open KYC verification

From the dashboard sidebar, open KYC under your finance tools. You'll see the verification tiers and the daily payout limit each one unlocks.

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2

Compare the tiers

Tier 1 needs only your BVN and lifts you to ₦1,000,000 a day. Tier 2 adds your CAC business name and RC number and unlocks ₦5,000,000 per transaction and ₦10,000,000 a day. Start where you can today — you can always upgrade later.

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3

Enter your BVN

In Submit verification, type your 11-digit BVN. That alone qualifies you for Tier 1. The name on your BVN becomes the verified name on your account.

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4

Add CAC details for Tier 2 (optional)

If your business is registered, add your business name (CAC) and RC number to go straight for Tier 2. No CAC yet? Leave these blank, complete Tier 1, and upgrade once you're registered.

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5

Submit for review

Click Submit for review. Crate confirms your submission and our team reviews it. You'll get an email with the decision within 24–48 hours, and your new limit takes effect as soon as you're approved.

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