Experiencing document rejection can be devastating, especially when it hinders your efforts to improve your Fido Score or secure funds for your business. There are various reasons why your documents may be denied or rejected, and we want to help you understand and eliminate these reasons to improve your Fido Score and increase your chances of securing credit with Fido. To ensure that your documents are processed quickly, please review the following list of frequent reasons for rejection to minimize the risk of rejection.
- Wrong Document: Having a wrong document is when a document is submitted in the wrong category. It is important to note that every document submitted in this process falls under specific categories, hence proper placement is key. For instance placing Utility Bill which falls under Proof of Address under Proof of Employment. It is noteworthy to mention that appropriate placement of documents plays a significant role in the approval of your documents.
- Fake Document: Documents shall be rejected based on sufficiency of information provided in the identification document. As a guide make sure that the document presented is legible and comprehensible.
- Spam: It is essential to understand that certain documents, such as selfies or images of oneself working in the field, do not contribute to improving your score. Uploading selfies or taking pictures while working does not have any impact on your Fido Score.
- Ownership Mismatch- Name: Using the right documents bearing appropriate names are necessary for easy approval. It is essential to provide names that will match in all databases. You must ensure that your name matches the name captured on your other document presented. In the case of a name change due to marriage or any other reason, kindly make the necessary legal changes to reflect in your documents before uploading. It will be key to add the affidavit to prove your identity or ownership.
- Ownership Mismatch- National ID: It is necessary that your photo ID bears the name and photograph of the person presenting it.
- Unknown Document Type: Doing checks on your documents before submitting them is essential. Putting efforts in capturing all angles of your document is vital to it being approved. Documents with no labels, titles (letter heads) are at great risk of rejection.
- Bad Image Quality: When uploading your documents, ensure to capture a clear image where all texts, numbers, images, etc can be seen well. Uploading blurred images makes it difficult to validate the credibility of the documents. These errors can go a long way to affect your document being approved. Therefore, it is crucial to review your image quality for any inconsistencies to get them fixed before uploading.
- Missing Page: Your document shall be rejected in cases of missing pages. Kindly note that having documents with discrepancies between the information provided and the supporting documents will have your document rejected. If your document gets rejected due to missing pages, you can resubmit a complete document set for approval. For instance, omitting page 3 when uploading your Form A.
- Invalid Document: This implies the document you provided is not applicable for this purpose. Uploading valid documents like your Ghana Card, tax invoices, other National IDs are not applicable in this process. Even though your National IDs are valid in your verification process with us, it is crucial to note that they are not applicable in improving your Fido Score.
- Expired Document: The concept of accepting proof of address is to gather more information on the customer's living profile. All documents presented must be within the validity period stated thereon. Documents accepted include (Water Bill, Electricity Bill, Tenancy Agreement, Mortgage Statement and Property Rate). Documents under this category must be recent; 6 months or below, bear at least two names of captured on your other presented documents. Proof of Employment usually involves documents such as ( Appointment Letter, SSNIT Statement, Pay slip, Transfer letter, Promotional letter, Introductory letter). we limit the time frame of certain documents under this category to 6 months; and this includes documents, pay slips and SSNIT statements. However with appointment letters, transfer letters, promotional letters, and introductory letters, the time frame is extended to a period of one year. Anything older than that shall be rejected. As usual, documents need to be legible, well captured, and have the same particulars as the customer uploading the document.
Also note that you are allowed to upload your MTN Momo statements, which serve as financial information. The Momo statement must be within 6 months or less. Anything older than that shall be rejected. The names on the statements must be the same as the individual uploading them as well.
Unreadable Document: This implies corrupted files and password encrypted documents or images. This means there were issues in the file that occurred during the original document generation, scanning or some other conversion process. It is crucial to check documents carefully before submitting them. Avoid using password encrypted documents also. Ensure the document is fully displayed and is not cropped; you need to submit the entire document, from beginning to end. Only submit documents that are in good condition, where the texts and images are readable.