"KYC on Hold" status typically means that the Know Your Customer (KYC) process for an individual or business is temporarily paused or delayed. This could happen for several reasons:
- Incomplete Documentation: The required documents for verifying identity, address, or other details might not have been fully submitted or are missing.
- Discrepancies in Information: There could be inconsistencies or errors in the information provided, such as mismatched names, incorrect addresses, or other details that need clarification.
- Additional Verification Required: The financial institution or service provider may need additional information or verification before completing the KYC process.
- Regulatory Compliance Issues: There might be regulatory concerns or compliance checks that need to be addressed before the KYC process can proceed.
- Pending Approval: The KYC process might be awaiting further review or approval by the compliance team or a third-party service.
You can reach out to the customer support team at letstalk@open.money for any clarification.