At Grow, we take your privacy and security seriously. This article explains our identity verification process, why it's necessary, and how we handle your sensitive information.
Why We Collect Identification Information
As registered tax agents, we are required under the Tax Agent Services Act 2009 to verify the identity of our clients. This helps prevent fraud and ensures compliance with Australian tax laws.
Importantly, strong identity verification processes help prevent fraudulent SMSF registrations and unauthorised transfers.
Our Identity Verification Process
We use Stripe's identity verification product to collect and verify your identification documents securely. This process involves:
1. Uploading primary identity documents (driver's license or passport)
2. Live capture using biometric security to prevent fraudulent verifications
Once all required documents are submitted and verified, your account will be activated within up to 3 business days. If you do not receive confirmation within this timeframe, please contact our support team.
Steps if Verification Fails
In case electronic identity verification fails, you will need to provide an independently certified copy of your ID. Ensure that the certified document includes the following:
The date of Certification (not older than 12 months at the time of acceptance)
A statement: "I certify that this is a true copy of the original document which I have sighted"
The signature of the certifying officer
The full name of the certifying officer
The certifying officer's provider/registration number (if applicable)
The certifying officer’s profession/qualification and years of service (as required) Each document must be certified separately. Refer to the applicable certification guidelines for a list of eligible professions and further details.
How We Use Your Information
Your verified identity information is used to:
1. Comply with legal requirements
2. Prefill bank and broker applications (when requested by you)
3. Provide certification for superannuation transfers (upon request)
Responding to Automated Emails
If you receive an automated email requesting additional information after already providing the documents, you can disregard the email. Grow will review your submission and confirm once your account is approved and activated.
Data Storage and Security
We only store the verification result in our database, not your ID documents or numbers.
Sensitive identity data remains with Stripe, our trusted verification partner.
Access to verification data is strictly limited to a tiny cohort of authorised Grow employees who have undergone police checks.
Stripe data can only be accessed from Grow-controlled devices with multi-factor authentication or a biometric passkey.
Third-Party Applications
When your identity information is used to prefill applications for banks or brokers:
We do not retain copies of these applications.
Once finalized, the applications are not accessible to Grow employees.
For information on how third-party providers handle your data, refer to their data collection and privacy policies.
Requesting Data Deletion
You can request the redaction of your ID data at any time. This is a manual process conducted by authorized Grow employees.
Special Considerations for Superannuation Transfers
In cases where you request certification of your ID document for transferring superannuation:
This is the only instance where sensitive ID verification documents are temporarily moved into Grow's systems
Once you download your certified ID document, you can request their deletion from our systems
Best Practices for Handling ID Information
We strongly recommend against emailing sensitive ID documents
Once you've provided the necessary documents to third parties, delete all copies from your devices and emails
Regularly review and update your identity information to ensure accuracy
Questions or Concerns?
Please contact our customer support team if you have any questions about our identity verification process or how we handle your data.