Facing document rejection can be frustrating, especially if it affects your access to business funds. Knowing why documents get rejected can help improve your chances of credit approval with Fido. Check out the common reasons for rejection to speed up the process and reduce the risk of being denied.
Do’s
✔️Upload the complete record of the business registration details for Business registration Form.
The name on the document should match the Business name and customer name provided during registration.
✔️ ️Upload a recent 2-month statement ( extraction period of the statement is equal to or greater than 60 days).
✔️Upload documents in PDF format
✔️Submit documents under the right category
✔️ Delivery/service address must match the address provided by the customer during KYC and in 2 other instances on receipt, especially for Business Utility Bills
✔️ The time period of the bill (which must be within the last 6 months)
✔️The creation date of the document must be no more than 10 days after the license/certificate’s issuance date
Don’ts
❌Don’t upload selfies, images, documents that are not required.
❌ Don’t upload a torn, crumpled, stained, or blurred document.
❌ Don’t upload corrupt files or password-encrypted documents/images.
❌ Don’t upload document with no labels, Titles or brands.
❌ Don’t upload document with missing page(s) especially Business registration Form.
❌ Don’t upload expired documents or those that do not meet the required validity period.