At CoinPayments, guaranteeing the safety and compliance of our platform is a prime precedence. We require all customers to finish Identification Verification to attain this. This course of helps us meet regulatory necessities and protects our customers from potential fraud and monetary crimes.
To streamline the verification course of, we’ve partnered with main verification platforms, SumSub and RiskScreen (now KYC360), trusted by prime monetary establishments worldwide. These platforms totally adjust to GDPR and different knowledge safety rules, guaranteeing your data is safe and personal.
We perceive that verification can typically be daunting, so we’ve designed a easy, tiered method that applies to all customers, whether or not you’re a person or a enterprise. Our verification course of is easy and user-friendly, permitting you to begin transacting rapidly whereas offering further verification as your exercise on the platform grows.
On this tutorial, we’ll information you thru the completely different verification tiers, explaining the necessities and advantages at every degree. We’ll additionally reveal learn how to contact help in the event you encounter any points.
Let’s get began.
Verification Tiers
For “Whole Transaction Quantity,” we depend funds, deposits, withdrawals, and transfers in direction of the amount limits. This contains all transactions carried out on the person interface or by means of API exercise, whatever the cryptocurrency used, so long as it has a constructive Bitcoin change charge (AnyCoin/BTC) and is supported for every transaction kind.
Please notice that we could dynamically modify the verification necessities for every Stage or account kind primarily based on world AML/CTF and counterparty threat necessities (e.g., journey rule) and native compliance insurance policies (e.g., reporting and licensing). Which means not all KYC sections will apply to each person, as the necessities could differ relying on particular person circumstances and the ever-changing regulatory panorama.
Tier 1: Fundamental Verification
To begin utilizing the CoinPayments platform, all customers should full our Fundamental Verification course of, also referred to as Tier 1. This preliminary verification is designed to be fast and straightforward, permitting you to begin transacting with minimal trouble.
By finishing this tier, you may:
- Transact as much as $20,000 USD in lifetime quantity, together with deposits, withdrawals, and API exercise.
- Entry primary options of the CoinPayments platform.
To progress to the following tier and unlock larger transaction limits and extra options, you will have to offer further data and full additional verification steps, which might be lined within the Verification Necessities part of this information.
Tier 2
When your whole transaction quantity exceeds $20,000 USD (together with deposits, withdrawals, or API exercise), you’ll be required to finish Tier 2 verification. This tier is designed for customers needing larger transaction limits and extra options.
By finishing Tier 2 verification, you may:
- Transact as much as $100,000 USD in lifetime quantity, together with deposits, withdrawals, and API exercise.
- Proceed utilizing the CoinPayments platform with none fee limitations as much as the Tier 2 quantity restrict.
To progress to the following tier and unlock even larger transaction limits and extra options, you will have to offer additional data and full the required verification steps, which might be lined within the Verification Necessities part of this information.
You probably have any questions or encounter points through the Tier 2 verification course of, please contact our help crew by following the steps within the “Resolving Identification Verification Points” part on the finish of this web page.
Tier 3
When your whole transaction quantity exceeds $100,000 USD (together with deposits, withdrawals, or API exercise), you’ll be required to finish Tier 3 verification. This tier is designed for customers with important transaction volumes who require larger limits and entry to superior options.
The system will robotically activate fee limitations, and also you’ll must cross Tier 3 verification to carry these limits.
By finishing Tier 3 verification, you may:
- Transact as much as $1,000,000 USD in lifetime quantity, together with deposits, withdrawals, and API exercise.
- Proceed utilizing the CoinPayments platform with none fee limitations as much as the Tier 3 quantity restrict.
- Entry superior options and advantages tailor-made for high-volume customers.
After efficiently finishing Tier 3 verification, a banner might be displayed in your Dashboard, informing you concerning the choice to improve to a Enterprise/Company Account or stay a Private Account. This alternative lets you choose the account kind that most accurately fits your wants and necessities.
To progress to the following tier and unlock even larger transaction limits and extra options, you will have to finish the required verification steps, which might be lined within the Verification Necessities part of this information.
You probably have any questions or encounter points through the Tier 3 verification course of, please contact our help crew by following the steps within the “Resolving Identification Verification Points” part on the finish of this web page.
Tier 4
Advancing to Tier 4 requires a handbook verification course of, which begins along with your request to replace your account to both a Company or Private account. This tier is designed for customers who must function at a better degree and require tailor-made verification to satisfy their particular wants.
Do you have to select to keep up a Private account, you’ll be topic to a transaction restrict of $1,000,000 USD. In the event you require larger limits or further options, it’s possible you’ll want to contemplate upgrading to a Company account.
By finishing Tier 4 verification, you may:
- Function your account as Company or Private, relying on your small business wants and construction.
- Entry options and advantages particular to your chosen account kind.
- Transact as much as $1,000,000 USD in lifetime quantity for Private accounts, with the potential for larger limits for Company accounts.
To provoke the Tier 4 verification course of, you will have to submit a request to our help crew indicating your choice for a Company or Private account. Our compliance crew will then evaluation your request and information you thru the required steps to finish the verification course of.
As soon as our compliance crew has reviewed and accepted your request, your account might be up to date to the chosen kind (Company or Private), and also you’ll achieve entry to the corresponding options and advantages.
You probably have any questions or require help through the Tier 4 verification course of, please contact our help crew by following the steps within the “Resolving Identification Verification Points” part on the finish of this web page.
Tier 5
Tier 5 verification is the highest verification degree out there on the CoinPayments platform, designed for customers with substantial transaction volumes and particular enterprise necessities.
This tier is split into two distinct paths, relying on whether or not you’re a Private or Company account.
If you’re a Private account in Tier 4 and your whole transaction quantity has reached the $1,000,000 USD restrict (together with deposits, withdrawals, or API exercise), you may be required to finish Tier 5 verification. This enhanced due diligence course of is critical to take away the transaction restrict and guarantee uninterrupted entry to your account.
By finishing Tier 5 verification as a Private account, you may:
- Take away the $1,000,000 USD transaction restrict and proceed utilizing your account with out disruptions
- Entry personalised help and advantages tailor-made for high-volume Private accounts
- Preserve your standing as a Private account whereas working at a better degree
To finish Tier 5 verification as a Private account, you will have to offer further data and documentation, as specified within the Verification Necessities part of this information. Our compliance crew will evaluation your submission and work with you to finish the improved due diligence course of.
Upon efficiently approving your improve request, you’ll obtain e-mail affirmation, and the transaction limits in your Private account might be eliminated.
Nevertheless, Company accounts might want to full the Know Your Enterprise (KYB) course of by means of our associate, RiskScreen (now KYC360), to attain full approval. This course of is important to make sure compliance with worldwide rules and keep the safety of our platform.
To finish verification as a Company account, you will have to comply with the KYB workflow by means of RiskScreen (now KYC360), as outlined within the later part of this information. Our compliance crew will help you all through the method and guarantee a clean expertise.
You probably have any questions or require help through the Tier 4 verification course of, please contact our help crew by following the steps within the “Resolving Identification Verification Points” part on the finish of this web page.
Verification Necessities
To make sure the safety and integrity of our platform, we require our customers to finish varied verification steps. These necessities assist us adjust to world rules, forestall fraudulent actions, and keep a secure person atmosphere.
On this part, we’ll information you thru the completely different verification necessities, offering detailed directions and suggestions that can assist you full every step efficiently.
Selfie Verification
We require customers to submit a dwell selfie as a part of our identification verification course of. This step helps us affirm that the particular person creating the account is similar as the person depicted within the offered identification paperwork.
To correctly take and submit a selfie for verification, comply with these pointers:
- Guarantee that you’re in a well-lit space with a plain background.
- Maintain your system at eye degree and look immediately into the digital camera.
- Take away any hats, sun shades, or different equipment which will obscure your face.
- Make sure that your face is totally seen and never lined by hair or palms.
- Preserve a impartial facial features and hold your mouth closed.
- Seize the selfie and evaluation it to make sure it meets the above standards.
Merely face the digital camera and ensure your face is throughout the body. You too can proceed the KYC course of in your cellphone by clicking the “Proceed on cellphone” hyperlink.
If the digital camera doesn’t seize your picture correctly, you would possibly see this web page:
After finishing the selfie step, you will note a affirmation display indicating that you’ve accomplished the necessities:
In case your selfie is rejected, evaluation the offered suggestions and retake the selfie following the rules above. In the event you proceed to face points, contact our help crew for help.
Telephone and E-mail Verification
To reinforce the safety of your account and be sure that we will talk with you successfully, we require customers to confirm their cellphone quantity and e-mail handle.
Ideas for a profitable cellphone and e-mail verification:
- Double-check that your cellphone quantity and e-mail handle are entered accurately.
- Guarantee that you’ve entry to the cellphone quantity and e-mail handle offered.
- A digital cellphone quantity or a disposable e-mail handle is probably not accepted for verification functions.
- Whitelist the CoinPayments e-mail handle to stop verification emails from being marked as spam.
Finishing cellphone and e-mail verification helps defend your account from unauthorised entry and ensures you obtain vital communications from our crew.
Proof of Handle (POA)
As a part of our verification course of, we require customers to submit a legitimate Proof of Handle (POA) doc. This step helps us affirm your residential handle and adjust to regulatory necessities.
To submit your Proof of Handle (POA), please present one of many paperwork listed on the next display:
Please be sure that your Proof of Handle (POA) doc meets the next standards:
- The doc should be issued throughout the final 3 months.
- Your full identify and residential handle should be clearly seen.
- The doc should be in a format that can’t be simply altered, equivalent to a PDF or a transparent {photograph}.
When you’ve submitted your Proof of Handle (POA), our crew will evaluation your doc and e-mail you as quickly because the verification is full.
In case your Proof of Handle (POA) is rejected, you’ll obtain an e-mail with the rationale for the rejection and directions on resubmitting a legitimate doc.
You probably have questions or encounter points whereas submitting your Proof of Handle (POA), please contact our help crew for assist.
Supply of Funds (SOF)
Supply of funds (SOF) refers back to the origin of the cash utilized in a selected transaction. As a part of our dedication to sustaining a safe and compliant platform, we require customers to offer details about their SOF throughout verification.
When finishing the Industrial Questionnaire or the Account Improve for Retailers Questionnaire, you may be requested to specify your Supply of funds (SOF) from among the many following choices:
- Income
- Securities
- Royalties/Dividends from Branches
- Monetary Help from State/Worldwide Our bodies
- Loans/Credit
- Crypto Forex Buying and selling/Mining
- Actual Property
- Investments
- Different (please point out)
Please choose the choice that the majority precisely represents the first supply of the funds you’ll use to carry out transactions on the CoinPayments platform.
In case your Supply of funds (SOF) will not be listed among the many out there choices, please select “Different” and supply a quick clarification.
Offering correct details about your Supply of funds (SOF) is essential for sustaining the integrity of our platform and complying with regulatory necessities.
You probably have a number of sources of funds, please choose probably the most important or related one. In some instances, our compliance crew could request further documentation to confirm your Supply of funds (SOF).
For enterprise accounts (Service provider accounts), you may be required to offer details about your organization’s supply of funds. This may occasionally embody income from gross sales, investments, loans, or different business-related revenue.
Please contact our help crew for steerage when you have any questions or issues about offering your Supply of funds (SOF) data.
Industrial Questionnaire
As a part of our verification course of, you’re required to finish a questionnaire. This questionnaire is designed to collect important details about you and your small business.
Finishing the Industrial Questionnaire is a vital step within the verification course of and by offering the requested data, you reveal your dedication to transparency and assist us keep a trusted, compliant platform for all our customers.
Please be sure that all data offered within the Industrial Questionnaire is correct, full, and up-to-date. Our compliance crew will evaluation the submitted questionnaire and will request further documentation or clarification if wanted.
You probably have any questions or issues whereas filling out the Industrial Questionnaire, please contact our help crew for assist.
Upgrading to a Company Account
In the event you’re a enterprise or service provider requiring larger transaction limits, further options, and enhanced help, upgrading to a CoinPayments Company account could be the fitting alternative.
Advantages of upgrading to a Company Account:
- Increased Transaction Limits: Company accounts have entry to considerably larger transaction limits in comparison with Private accounts, permitting you to course of bigger volumes of funds and transfers.
- Devoted Help: As a Company account holder, you’ll obtain precedence help from our devoted crew of specialists, guaranteeing that your inquiries and points are addressed promptly.
- Customised Options: Company accounts can entry tailor-made options and integrations designed to streamline fee processing and reporting for companies.
- Lowered Charges: In some instances, Company accounts could also be eligible for diminished transaction charges, serving to you get monetary savings in your fee processing prices.
KYB (Know Your Enterprise) – Step-by-Step Information
To improve to a Company account, you’ll want to undergo our KYB verification course of. KYB is obligatory and ensures CoinPayments complies with monetary rules and reduces dangers to its purchasers. It includes verifying the identification of enterprise entities, assessing their popularity, and evaluating potential dangers.
By conducting KYB checks, companies can defend themselves in opposition to monetary losses, authorized penalties, and reputational harm.
To provoke the KYB course of, comply with these steps:
Step 1
To begin your KYB course of, please go to https://www.coinpayments.internet/kyb and click on on the “Improve to a Company account” button.
Fill out the shape.
After filling out the shape, our compliance crew manually evaluations your entry and schedules a name to debate the advantages of upgrading. In the event you resolve to proceed, a hyperlink to begin verification with our associate RiskScreen (Now KYC360) might be emailed to you.
Step 2
Click on “Ship Verification Code for RiskScreen (Now KYC360)“, you’ll obtain a novel verification code in your registered e-mail inbox. This code is required to proceed with the Know Your Enterprise (KYB) course of by means of our associate, RiskScreen (Now KYC360).
You must have obtained an e-mail containing a novel verification code. This code serves as a two-factor authentication (2FA) measure to make sure the safety of your account and the KYB course of.
Please verify your registered e-mail inbox for the verification code. The e-mail containing the code might be despatched to the identical handle you used to create your CoinPayments account.
After you have situated the e-mail with the verification code:
- Enter the code within the designated discipline.
- Click on “Submit” or “Confirm” to proceed with the KYB course of.
Please notice that the verification code is exclusive for every request and can expire after a brief interval. The code proven within the picture, “371477”, is for reference solely and won’t work on your particular verification.
In the event you haven’t obtained the e-mail with the verification code, please:
- Examine your spam or spam folder.
- Wait a couple of minutes, as there could also be a slight delay in receiving the e-mail.
In the event you nonetheless haven’t obtained the code, click on on “Ship a brand new verification code” to request a brand new one.
In the event you proceed to expertise issues receiving the verification code, please contact the CoinPayments help crew for additional help.
After you have efficiently entered the verification code, it is possible for you to to proceed with the KYB course of.
Step 3
After receiving the verification code out of your registered e-mail, present the required basic, personnel, enterprise, and monetary data, together with particulars of authorised individuals, administrators and supreme useful proprietor(s).
Disclose political publicity and full KYC steps for every Director or UBO.
Signal to substantiate the information submitted by your organization/crew is genuine.
Step 4
As a part of the KYB course of, you may be required to add legitimate paperwork which can be no older than three months and in English. These paperwork assist us confirm your small business’s identification, construction, and monetary standing. Please guarantee that you’ve the next paperwork prepared for add:
- Incorporation paperwork
- Proof of handle of UBO and/or consultant (not older than 3 months)
- Article of Affiliation/Memorandum of Affiliation
- Extract from Commerce Registry (not older than 3 months)
- Listing of certificates of shareholders (not older than 3 months)
- Listing of certificates of Administrators (not older than 3 months)
- Firm construction if there are greater than 2 layers (not older than 3 months)
- Newest monetary assertion of the corporate
Please notice that the paperwork marked with an asterisk (*) are obligatory, whereas the others could also be relevant relying in your firm’s construction and jurisdiction.
When making ready your paperwork for add, be sure that they meet the next standards:
- All paperwork should be legitimate and up-to-date and issued throughout the final three months.
- Paperwork should be in English. In case your authentic paperwork are in one other language, please present an authorized English translation.
- Scans or images of paperwork should be clear, legible, and full. Low-quality or partial pictures could delay the verification course of.
Step 5
After importing your paperwork efficiently, you’ll see a “Information Assortment Progress – Full” notification.
This display confirms that your data and paperwork have been submitted for evaluation. At this level, it’s possible you’ll safely shut the window.
Notice: If further paperwork are wanted primarily based in your firm’s nation of incorporation, area, or possession construction, we are going to promptly request them to expedite the onboarding course of. In case your submission meets our preliminary necessities, you’ll obtain an e-mail with hyperlinks to confirm firm shareholders and/or representatives.
Step 6
After your service provider account has been reviewed and accepted, you’ll obtain an e-mail informing you about your account standing and offering additional directions.
Within the e-mail, you will see that KYC hyperlinks for every of your organization’s Administrators and Final Helpful Homeowners (UBOs). Every Director and UBO should efficiently full and cross the KYC course of on your service provider account to obtain last approval.
If any Director or UBO fails to cross the KYC course of, your service provider account may also be rejected. Subsequently, it’s essential that each one Administrators and UBOs full their KYC verification promptly and precisely.
As soon as all Administrators and UBOs have efficiently handed their KYC verification, your service provider account will obtain last approval, and you may be notified by way of e-mail.
You probably have any questions or issues concerning the Director/UBO KYC course of or your service provider account standing, please contact our help crew for assist.
Resolving Identification Verification Points
In the event you encounter any points with identification verification, such because the add of unsupported paperwork or poor high quality of submitted information, and the issue can’t be simply resolved by means of your verification dashboard, please comply with the steps under to contact our buyer help crew for help.
Step 1
Go to https://www.coinpayments.internet/supwiz and choose “Login/2FA/KYC Points” from the Help Wizard’s concern classes.
Step 2
Click on on “KYC Points” to proceed to the following step.
Step 3
Learn and ensure your settlement to the help guidelines by checking the field offered.
Step 4
After agreeing to the help guidelines, copy the help code generated by the system. You’ll need this code when creating a brand new help ticket at https://coinpay.freshdesk.com/
Fill out the help kind with particulars concerning the points you’ve gotten and fasten any related information or pictures. Make sure that to incorporate the help code you copied in Step 3.
As soon as your help ticket is submitted, a buyer help consultant will contact you to help with resolving your account verification concern.
In the event you haven’t begun your KYC course of but, please log into your account at https://www.coinpayments.internet/login to get began.
Our help crew is devoted to serving to you resolve any identification verification points it’s possible you’ll encounter. We admire your cooperation and understanding all through the verification course of.
If further paperwork are wanted primarily based in your firm’s nation of incorporation, area, or possession construction, we are going to promptly request them to expedite the onboarding course of. In case your submission meets our preliminary necessities, you’ll obtain an e-mail with hyperlinks to confirm firm shareholders and/or representatives.