---
title: What is KYC?
description: KYC stands for ‘Know Your Customer.’ It’s a process used by financial institutions to verify the identity of their customers. This helps ensure security and prevent fraud.
url: "https://www.bananacrystal.com/faq/what-is-kyc/"
updated: "2024-07-15"
category: BC Debit Card / KYC
---

# What is KYC?

KYC stands for ‘Know Your Customer.’ It’s a process used by financial institutions to verify the identity of their customers. This helps ensure security and prevent fraud.