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Author Topic: Utility Bills for Exchanges...  (Read 580 times)
btcto
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March 12, 2013, 01:25:19 PM
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Why do people bother with utility bills, etc?  Are they required anywhere but in the USA?  I live in Canada, should I be required to sell my soul to the company to make trades?
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March 12, 2013, 03:40:03 PM
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Providing utility bills as proof of address is standard practice around the world in any businesses that are required to Know Your Customer.
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March 12, 2013, 11:59:29 PM
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Providing utility bills as proof of address is standard practice around the world in any businesses that are required to Know Your Customer.

Just as flinging a stick with a strip of leather at a horse was standard practice for transportation at one point in time (i.e., a buggy whip)..

In this day when so many people are sharing residences to reduce spending, very few people as a percent of the population have their name show up on a utility bill.    It might even be seen as one of the vestiges of a patriarchal social system.  If a person has no credit and never has his or her name on a utility bill as a poor substitute for credit, that person has less power to participate in the economy.   Statistically this affects more women than it does men.  

So essentially it could be argued that this litmus test of having a utility bill in your name before you can engage in commerce is a form of discrimination (intentional or not) against women.
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March 14, 2013, 07:18:27 AM
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Yes definately, the utility bill is not good for many people.  At least most places accept other things such as a diving licence, bank statement etc. Although again, some people have nothing at all to prove address.
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March 14, 2013, 12:05:23 PM
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Although again, some people have nothing at all to prove address.

In Nigeria they just dumped ID proof KYC requirements for low value bank accounts (i.e., under about $1K max balance).  Accountholders can open an account via mobile or online, without verifying ID (they have to give their name & D.O.B., but no ID necessary).
 - http://www.thisdaylive.com/articles/cbn-unveils-implementation-strategy-for-three-tiered-kyc/140700/
 - http://www.cenbank.org/out/2013/ccd/3%20tiered%20kyc%20requirements.pdf
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October 14, 2013, 10:54:38 AM
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In my sig you will find a bank account with an attached VISA card that can hold 2500€ without any kind of KYC.
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October 14, 2013, 01:21:51 PM
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most of sites just not relying on utility bills they mostly asking for driving licsence and ID card which are more better

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