Duka Log

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A small change to how I fund the account, and it is entirely about the paperwork rather than the money.

The reason M-Pesa ends up being the default here is not loyalty to it. Cards issued locally get declined often enough to be unreliable, and international wires take days. M-Pesa settles in minutes using the balance already on the phone, and there is no deposit fee on the broker side. The transaction charge on the M-Pesa end still applies, so the amount that arrives is not always the amount you sent, and that difference is worth noting somewhere.

Two things have to be in place before any of it works. The account has to be verified with KYC already completed, and the line has to have enough balance to cover both the deposit and the transaction charge. Then it is a matter of approving the prompt on the phone and entering the PIN.

Here is the habit I have settled on. The moment the confirmation message arrives, I copy the code into the same note where I keep everything else, along with the date and the amount actually sent. Not after the balance updates. Before. If anything goes wrong, that code is the first thing anyone asks for, and it is much easier to find in a note than by scrolling back through months of messages.

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I had assumed the only thing that could lock you out of a trading account was doing something wrong. Turns out there are two separate things, and one of them happens by doing nothing at all.

A freeze is a temporary hold, usually for a compliance or verification reason. Dormancy is different. That is what happens when an account sits with no trading and no transactions for a long stretch. Nobody flagged you. You just went quiet, and the account went quiet with you.

The freeze reasons are the ones worth knowing in advance. Expired or incomplete ID documents. A mismatch between the name on your profile and the name your M-Pesa is registered under. Or a routine security check triggered by unusual activity.

That M-Pesa one keeps coming up. It is the same detail that blocks withdrawals, and it is the one people never think to check because the line has been in a relative name for years.

The housekeeping is not complicated. Verify early, keep the ID current, use a line registered in your own name, and log in from time to time so the account does not go dormant.

More on both cases here: account freezes and dormancy explained.

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Most of the verification problems I hear about are not really document problems. People upload a clear ID, it gets rejected, and nobody explains why. Nine times out of ten the answer is that a name somewhere does not match.

There are three places your name lives: the trading profile you typed in when you signed up, the ID you upload, and the line your M-Pesa is registered under. All three have to agree. If your ID says one thing and your M-Pesa says another, verification may still pass, but the withdrawal will not go through later. That is the worse outcome, because by then you have money sitting there.

So before uploading anything, check the M-Pesa registration first. It is the one people never think to look at, and it is the one that is hardest to change in a hurry.

The rest is mundane. National ID or passport, not expired, all four corners in frame, good light, no glare. Proof of address only if you are asked for it, and it needs to be recent. Approval is usually quick once the details line up.

One thing worth knowing: you can deposit and trade before verifying. It is only the withdrawal that is gated. That is why the mismatch stays invisible for weeks and then surfaces at the exact moment you want your money out.

Full document list and the rejection reasons are here: verification and KYC, explained properly.