What is dip chip?

Modified on Wed, 31 Jan 2024 at 03:34 PM

Dip chip is an electronic verification process that is commonly used nowadays by many financial institutes or companies as a part of their customer verification (Know Your Customer or KYC) for account registration by inserting an ID card into a dip chip machine which can then send the information from the card to the designated system. The dip chip verification is designed to help increase the accuracy and speed of the data verification process. Currently, our customers can complete the dip chip at Counter Service at a 7-Eleven store.

Why dip chip?


As Bitkub is considered a financial entity, we are obliged to follow the regulations, which include the customer verification policy, of the regulators. The dip chip system is one of the policies that are under the supervision of the Anti-Money Laundering Office of Thailand (AMLO) which Bitkub, as well as many other banks and financial institutions, has implemented into our policy in order to improve the accuracy and speed of the data collection and verification for our customers.

How dip chip works


The process of how you can submit your data for account verification via the dip chip method is convenient and fast. Please see the instructions below.

  1. After you fill in all the information on your Bitkub account until you reach the page where the QR code for the dip chip is generated, please bring your Thai national ID card to a Counter Service together with the generated QR code within 24 hours.
  2. Once you are at the store, inform a 7-Eleven cashier at the counter that you need to do a dip chip to open an account with Bitkub.
  3.  The cashier will scan your QR code from your Bitkub account or your screenshot.
  4.  Insert your Thai national ID card into the machine provided at the counter.

    An example of the dip chip machine

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  1. After the card reading is complete, remove your ID card from the dip chip machine, and the cashier will then take a photo of you.
  2.  If the cashier checks and finds that the information received from your ID card is successfully collected and the photo is of good quality, they will print out a slip as proof for you.
  3.  Wait for the notification email to inform you of the update or the result of your account verification.

What should I do if my dip chip fails?


In case your dip chip verification is not successful, please check the possible reasons for rejection below.

  • The Thai national ID that you use to verify by dip chipping must be valid. (Your Thai national ID card must be valid or cover at least 60 days until the expiration date of the card.)
  • The first name and last name on the ID card must be the same as stated on the Bitkub account that you use the QR code for dip chipping.
  • Make sure that your information on Bitkub is correct and completely filled in before dip chipping.
  • The QR code that you use for dip chipping must be correct and still valid at the time of scanning (such as the code has not yet expired, or the code has not been used or scanned before). If you click ‘Back’ from the page where the QR code is generated or log out from your Bitkub account, you will need to get a new code as the old code will be canceled.


Do foreigners who reside in Thailand or Thai nationals who live abroad need to verify with the dip chip?


Currently, the dip chip system is supported only for gathering information from Thai national ID cards, therefore, only Thai nationals who reside in Thailand can undergo this process.


Other related information about dip chipping

  • The name and last name on the ID card and one on the Bitkub account must match.
  • Please use only your own Thai national ID card and dip chip at the Counter Service by yourself. In case the process is done by someone else, the photo of the person taken at the store will differ from the one on the card. This can lead to rejection.
  • Only Thai national ID cards are acceptable to verify with the dip chip system. (Other types of cards are not acceptable.)
  • The QR code that you will use to verify with the dip chip system must be valid at the time of scanning (valid up to 24 hours after the code is generated).

Remark: You can learn more about Dip Chip account verification at a Counter Service on Bitkub Application/Website here How to verify an account via Dip chip at a Counter Service?

 

(Video (in Thai) resource: https://www.youtube.com/watch?v=Zys0R4jJ9aE


Reference: 
https://www.sec.or.th/Documents/PHS/Attach/576/hearing-37-2562-s02.pdf

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