KYC and Compliance

There are two levels of user verification, also called API levels: Light (default) and Regular.

  • Light (default) verification requires basic information provided during the user creation process.
  • Regular verification requires identity proof which allows users to handle unlimited funds freely.

Light verification

Every user provides basic information to create a profile in our system. This will enable him to handle funds freely under certain limits.

Here is the information which we require:

Person type Required infos Required KYC documents
Natural user: Individual Email - Email
First name - FirstName
Last name - LastName
Country of Residence - CountryOfResidence
Birthday - Birthday
Nationality - Nationality
None
Legal user: Legal entity Business Name - Name
Generic business email - Email
First name of the legal representative - LegalRepresentativeFirstName
Last name of the legal representative - LegalRepresentativeLastName
Birthday of the legal representative - LegalRepresentativeBirthday
Nationality of the legal representative - LegalRepresentativeNationality
Country of residence of the legal representative - LegalRepresentativeCountryOfResidence
None

Regular verification

Allows for unlimited cash-in or cash-out (per user, per year)

In addition to the information provided for “light” verification, the following is the information you are required to collect from your users to allow them to go over the default limit. Users will need to provide at least one document proving their identity.

Person type LegalPersonType Required infos Required KYC documents
Natural n/a n/a ID Card or Passport (1) or driving licence for UK, USA and Canada (a passport is required outside of SEPA area) - "IDENTITY_PROOF"
Legal Business Headquarters address - HeadquartersAddress
Legal representative email - LegalRepresentativeEmail
Legal representative address - LegalRepresentativeAddress
"IDENTITY_PROOF"
"ARTICLES_OF_ASSOCIATION"
"REGISTRATION_PROOF"
"SHAREHOLDER_DECLARATION"
Legal Organization As above "IDENTITY_PROOF"
"ARTICLES_OF_ASSOCIATION"
"REGISTRATION_PROOF"
Legal Soletrader As above "IDENTITY_PROOF"
"REGISTRATION_PROOF"

Note that you can change the LegalPersonType once it has been set (although if the user doesn't have the required KYC documents for the new value listed in the table above, their KYC level will be downgradedt)

Note: In some exceptional cases, our Legal team will ask for extra documents if they suspect the user of illegal activities or political exposure.

KYC documents

Here are the required documents for regular verification. Please find below the details for each required document.

Document type Usage
"IDENTITY_PROOF" ID Card, Passport or driving license for SEPA area. Passport or driving licence for the UK, USA and Canada. For other nationalities a passport is required.
In the case of a legal user, this document should refer to the individual duly empowered to act on behalf of the legal entity. ID card: Front AND Back (Valid) OR Passport (Valid)
"ARTICLES_OF_ASSOCIATION" Certified articles of association (Statute) - formal memorandum stated by the entrepreneurs, in which the following information is mentioned: business name, activity, registered address, shareholding…
"REGISTRATION_PROOF" Extract from the Company Register issued within the last three months
In the case of an organization or soletrader, this can be a proof of registration from the official authority
"SHAREHOLDER_DECLARATION" Send information referring to the shareholder declaration
"ADDRESS_PROOF" Proof of address. Confirmation of residence: Less than a year old. Can be: Residential Registration Form, Water/electricity/gas/telephone bill, Tax certificate, Householder insurance, Confirmation of real estate ownership

These documents can be refused for various reasons - see details at the end of the Errors page.

To download our document listing end-users' required KYC documents per country, please click here

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