When you create your transaction, you may be prompted to provide documents to support your order (this is to satisfy compliance requirements).
The types of documents requested are generally assessed on a case-by-case basis. However, generally, the documents that required are:
- Any form of documents that proves your source of fund (SOF)
- (example: bank statement for savings; salary slip for salary)
- Any form of documents that proves your purpose of transfer
- (example: invoice for the purchase of goods and services; offer letter for education)
- Any form of a government-issued ID belonging to your recipient
Documents are generally requested on a one-off basis for similar transactions, however, it is still up to the discretion of the compliance department to request for documents. Documents are usually uploaded on the platform, but on occasions, you may be emailed by firstname.lastname@example.org for further clarifications/ documents.
Notice to Customer
Customer Due Diligence (CDD) is a requirement under the Anti-Money Laundering and Anti-Terrorism Financing Act 2001 (AMLATFA) and Money Services Business Act 2011 (MSBA). CDD shall be conducted on customer conducting any transaction.
Protection of Personal Information