At CoinPayments, guaranteeing the safety and compliance of our platform is a high precedence. We require all customers to finish Identification Verification to realize 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 high monetary establishments worldwide. These platforms absolutely adjust to GDPR and different information safety rules, guaranteeing your data is safe and personal.
We perceive that verification can generally be daunting, so we’ve designed a easy, tiered strategy that applies to all customers, whether or not you’re a person or a enterprise. Our verification course of is simple and user-friendly, permitting you to start out transacting shortly whereas offering extra verification as your exercise on the platform grows.
On this tutorial, we’ll information you thru the totally different verification tiers, explaining the necessities and advantages at every degree. We’ll additionally reveal find out how to contact help for those who encounter any points.
Let’s get began.
Verification Tiers
For “Complete Transaction Quantity,” we rely funds, deposits, withdrawals, and transfers in direction of the quantity limits. This consists of 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 alternate fee (AnyCoin/BTC) and is supported for every transaction kind.
Please be aware that we might dynamically alter the verification necessities for every Stage or account kind primarily based on international AML/CTF and counterparty threat necessities (e.g., journey rule) and native compliance insurance policies (e.g., reporting and licensing). Because of this not all KYC sections will apply to each person, as the necessities might range relying on particular person circumstances and the ever-changing regulatory panorama.
Tier 1: Fundamental Verification
To start out 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 simple, permitting you to start out transacting with minimal problem.
By finishing this tier, you’ll be able to:
- 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 subsequent tier and unlock larger transaction limits and extra options, you will want to offer extra data and full additional verification steps, which will probably be lined within the Verification Necessities part of this information.
Tier 2
When your complete 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’ll be able to:
- 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 subsequent tier and unlock even larger transaction limits and extra options, you will want to offer additional data and full the mandatory verification steps, which will probably be lined within the Verification Necessities part of this information.
You probably have any questions or encounter points in the course of the Tier 2 verification course of, please contact our help workforce by following the steps within the “Resolving Identification Verification Points” part on the finish of this web page.
Tier 3
When your complete 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 vital transaction volumes who require larger limits and entry to superior options.
The system will robotically activate fee limitations, and also you’ll have to cross Tier 3 verification to raise these limits.
By finishing Tier 3 verification, you’ll be able to:
- 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 will probably 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 subsequent tier and unlock even larger transaction limits and extra options, you will want to finish the mandatory verification steps, which will probably be lined within the Verification Necessities part of this information.
You probably have any questions or encounter points in the course of the Tier 3 verification course of, please contact our help workforce 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 guide verification course of, which begins together with your request to replace your account to both a Company or Private account. This tier is designed for customers who have to function at a better degree and require tailor-made verification to fulfill their particular wants.
Do you have to select to take care of a Private account, you’ll be topic to a transaction restrict of $1,000,000 USD. In the event you require larger limits or extra options, you could want to contemplate upgrading to a Company account.
By finishing Tier 4 verification, you’ll be able to:
- Function your account as Company or Private, relying on your corporation 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 want to submit a request to our help workforce indicating your choice for a Company or Private account. Our compliance workforce will then assessment your request and information you thru the mandatory steps to finish the verification course of.
As soon as our compliance workforce has reviewed and authorised your request, your account will probably be up to date to the chosen kind (Company or Private), and also you’ll acquire entry to the corresponding options and advantages.
You probably have any questions or require help in the course of the Tier 4 verification course of, please contact our help workforce 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 complete transaction quantity has reached the $1,000,000 USD restrict (together with deposits, withdrawals, or API exercise), you’ll 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’ll be able to:
- 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 want to offer extra data and documentation, as specified within the Verification Necessities part of this information. Our compliance workforce will assessment your submission and work with you to finish the improved due diligence course of.
Upon efficiently approving your improve request, you’ll obtain electronic mail affirmation, and the transaction limits in your Private account will probably be eliminated.
Nevertheless, Company accounts might want to full the Know Your Enterprise (KYB) course of by means of our companion, RiskScreen (now KYC360), to realize full approval. This course of is crucial to make sure compliance with worldwide rules and preserve the safety of our platform.
To finish verification as a Company account, you will want to observe the KYB workflow by means of RiskScreen (now KYC360), as outlined within the later part of this information. Our compliance workforce will help you all through the method and guarantee a easy expertise.
You probably have any questions or require help in the course of the Tier 4 verification course of, please contact our help workforce 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 numerous verification steps. These necessities assist us adjust to international rules, forestall fraudulent actions, and preserve a secure person setting.
On this part, we’ll information you thru the totally different verification necessities, offering detailed directions and suggestions that will help 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 verify that the particular person creating the account is identical as the person depicted within the offered identification paperwork.
To correctly take and submit a selfie for verification, observe these tips:
- Guarantee that you’re in a well-lit space with a plain background.
- Maintain your system at eye degree and look immediately into the digicam.
- Take away any hats, sun shades, or different equipment which will obscure your face.
- Ensure your face is absolutely seen and never lined by hair or palms.
- Preserve a impartial facial features and hold your mouth closed.
- Seize the selfie and assessment it to make sure it meets the above standards.
Merely face the digicam and ensure your face is throughout the body. You can too proceed the KYC course of in your telephone by clicking the “Proceed on telephone” hyperlink.
If the digicam doesn’t seize your picture correctly, you may see this web page:
After finishing the selfie step, you will notice a affirmation display indicating that you’ve got accomplished the necessities:
In case your selfie is rejected, assessment the offered suggestions and retake the selfie following the rules above. In the event you proceed to face points, contact our help workforce for help.
Telephone and E mail Verification
To reinforce the safety of your account and be certain that we will talk with you successfully, we require customers to confirm their telephone quantity and electronic mail handle.
Suggestions for a profitable telephone and electronic mail verification:
- Double-check that your telephone quantity and electronic mail handle are entered accurately.
- Guarantee that you’ve got entry to the telephone quantity and electronic mail handle offered.
- A digital telephone quantity or a disposable electronic mail handle might not be accepted for verification functions.
- Whitelist the CoinPayments electronic mail handle to stop verification emails from being marked as spam.
Finishing telephone and electronic mail verification helps shield your account from unauthorised entry and ensures you obtain necessary communications from our workforce.
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 verify 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 certain that your Proof of Handle (POA) doc meets the next standards:
- The doc have to be issued throughout the final 3 months.
- Your full identify and residential handle have to be clearly seen.
- The doc have to be in a format that can not be simply altered, corresponding to a PDF or a transparent {photograph}.
When you’ve submitted your Proof of Handle (POA), our workforce will assessment your doc and electronic mail you as quickly because the verification is full.
In case your Proof of Handle (POA) is rejected, you’ll obtain an electronic 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 workforce for assist.
Supply of Funds (SOF)
Supply of funds (SOF) refers back to the origin of the cash utilized in a specific 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 Business Questionnaire or the Account Improve for Retailers Questionnaire, you’ll be requested to specify your Supply of funds (SOF) from among the many following choices:
- Income
- Securities
- Royalties/Dividends from Branches
- Monetary Assist from State/Worldwide Our bodies
- Loans/Credit
- Crypto Foreign money 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) shouldn’t be listed among the many out there choices, please select “Different” and supply a short rationalization.
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 vital or related one. In some instances, our compliance workforce might request extra documentation to confirm your Supply of funds (SOF).
For enterprise accounts (Service provider accounts), you’ll be required to offer details about your organization’s supply of funds. This may increasingly embrace income from gross sales, investments, loans, or different business-related earnings.
Please contact our help workforce for steerage you probably have any questions or issues about offering your Supply of funds (SOF) data.
Business 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 corporation.
Finishing the Business 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 preserve a trusted, compliant platform for all our customers.
Please be certain that all data offered within the Business Questionnaire is correct, full, and up-to-date. Our compliance workforce will assessment the submitted questionnaire and should request extra documentation or clarification if wanted.
You probably have any questions or issues whereas filling out the Business Questionnaire, please contact our help workforce for assist.
Upgrading to a Company Account
In the event you’re a enterprise or service provider requiring larger transaction limits, extra options, and enhanced help, upgrading to a CoinPayments Company account is perhaps the best 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 Assist: As a Company account holder, you’ll obtain precedence help from our devoted workforce 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 want to undergo our KYB verification course of. KYB is obligatory and ensures CoinPayments complies with monetary rules and reduces dangers to its shoppers. It includes verifying the identification of enterprise entities, assessing their status, and evaluating potential dangers.
By conducting KYB checks, companies can shield themselves in opposition to monetary losses, authorized penalties, and reputational injury.
To provoke the KYB course of, observe these steps:
Step 1
To start out 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 workforce manually opinions your entry and schedules a name to debate the advantages of upgrading. In the event you determine to proceed, a hyperlink to start out verification with our companion RiskScreen (Now KYC360) will probably be emailed to you.
Step 2
Click on “Ship Verification Code for RiskScreen (Now KYC360)“, you’ll obtain a singular verification code in your registered electronic mail inbox. This code is required to proceed with the Know Your Enterprise (KYB) course of by means of our companion, RiskScreen (Now KYC360).
You must have obtained an electronic mail containing a singular 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 electronic mail inbox for the verification code. The e-mail containing the code will probably be despatched to the identical handle you used to create your CoinPayments account.
Upon getting situated the e-mail with the verification code:
- Enter the code within the designated subject.
- Click on “Submit” or “Confirm” to proceed with the KYB course of.
Please be aware 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 in your particular verification.
In the event you haven’t obtained the e-mail with the verification code, please:
- Test your spam or unsolicited mail 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 workforce for additional help.
Upon getting 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 electronic mail, present the required common, 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 verify the info submitted by your organization/workforce is genuine.
Step 4
As a part of the KYB course of, you’ll be required to add legitimate paperwork which can be no older than three months and in English. These paperwork assist us confirm your corporation’s identification, construction, and monetary standing. Please guarantee that you’ve got 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)
- Record of certificates of shareholders (not older than 3 months)
- Record 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 be aware 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 getting ready your paperwork for add, be certain that they meet the next standards:
- All paperwork have to be legitimate and up-to-date and issued throughout the final three months.
- Paperwork have to be in English. In case your authentic paperwork are in one other language, please present an authorized English translation.
- Scans or images of paperwork have to be clear, legible, and full. Low-quality or partial photos might 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 assessment. At this level, you could safely shut the window.
Be aware: If extra 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 electronic mail with hyperlinks to confirm firm shareholders and/or representatives.
Step 6
After your service provider account has been reviewed and authorised, you’ll obtain an electronic mail informing you about your account standing and offering additional directions.
Within the electronic mail, you’ll find KYC hyperlinks for every of your organization’s Administrators and Final Useful House owners (UBOs). Every Director and UBO should efficiently full and cross the KYC course of in your service provider account to obtain ultimate approval.
If any Director or UBO fails to cross the KYC course of, your service provider account may even 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 ultimate approval, and you’ll be notified through electronic 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 workforce 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 recordsdata, and the issue can’t be simply resolved by means of your verification dashboard, please observe the steps beneath to contact our buyer help workforce for help.
Step 1
Go to https://www.coinpayments.internet/supwiz and choose “Login/2FA/KYC Points” from the Assist Wizard’s challenge classes.
Step 2
Click on on “KYC Points” to proceed to the subsequent 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 will have this code when creating a brand new help ticket at https://coinpay.freshdesk.com/
Fill out the help type with particulars concerning the points you’ve and connect any related recordsdata or photos. Ensure 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 challenge.
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 workforce is devoted to serving to you resolve any identification verification points you could encounter. We admire your cooperation and understanding all through the verification course of.
If extra 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 electronic mail with hyperlinks to confirm firm shareholders and/or representatives.
