Summary:

When you purchase cryptocurrency using local currency like dollars or euros, in most cases you’ll need to verify your identity. This article covers questions related to the identity verification process when using our payment service provider MoonPay, including verifying your address, proof of income, and more.

Why do I need to verify my identity?

How long does verification take?

How can I speed up my verification?

What are account limits?

How do I increase my transaction limit?

How do I verify my identity?

How can I verify my residence address?

What is a proof of income / source of funds check and why do I have to do it?

How do I verify my proof of income / source of funds?

Why did my card verification fail?

How can I verify my payment card?

How can I verify my Apple Pay card?

How can I verify my Google Pay card?

How can I verify my Samsung Pay card?

What if my ID is expired?

There is no code on my bank statement. What can I do?

How can I verify a virtual credit card?

I don't have my bank card right now. Can I still be verified?

Why do I need to verify my identity?

Identity verification is required in order to remain compliant with Anti-Money Laundering (AML), countering the financing of terrorism (CFT) and Know Your Customer (KYC) regulations internationally. You can find complete details on MoonPay's policy in this regard here.

How long does verification take?

Most verifications are processed automatically, but if you've submitted a document or image that doesn’t meet the requirements, it may need to be reviewed manually — and this could cause delays. Most verifications are processed between a few minutes to few hours. Although it may take as long as 2-3 working days.

You will be notified by email if there are any additional required steps in the verification process.

How can I speed up my verification?

The best way to ensure verification is processed quickly, is to supply the required documents exactly as requested. The following guides should be useful in that regard:

What are account limits?

Transaction limits are determined by a variety of factors. These include:

  • whether you've successfully verified your account

  • whether you've completed proof of income / source of funds verification

  • whether you've completed proof of address verification

  • your purchase history

  • your payment method (eg. credit card, bank transfer)

  • your region.

How do I increase my transaction limit?

To increase your transaction limit, simple attempt to make a transaction of a size greater than your current limit. You'll then be prompted to upload additional documents. Once these documents have been verified, your transaction limit will be increased and your requested transaction will be processed.

How do I verify my identity?

When you initiate a purchase of cryptocurrency, you'll be asked to verify your identity.

You'll need to submit:

  • Digital photo(s) of a valid identity document

  • 3D liveness check (requires camera access)

The accepted identity documents are:

  • National ID card (both sides)

  • Driving license (both sides)

  • Passport (currently not supported for US-resident customers)

Tips for submitting photos of your identity documents:

  • Color photos only

  • High resolution, not blurry, no flash, and with all details clearly visible

  • Original photos only (no screenshots and photos can't be edited in any way)

  • All four corners of the document must be visible in the photo

  • Document must be valid for at least three months from the date of upload

  • Signature is shown on the original document

  • The document is not physically damaged

  • Essential information on the document is printed in Latin characters (documents with Japanese, Chinese, Arabic, Hebrew, Thai etc. characters only are not accepted).

This video explains the process step by step: https://youtu.be/iykFADWY3oQ

How can I verify my residence address?

When you initiate a purchase of cryptocurrency, you may be asked to verify your residence address.

The following documents are accepted as proof of address:

  • Utility bill

  • Bank or credit card statement

  • Tax invoice

  • Other government-issued residential statement or certificate

The following documents are not accepted:

  • Mobile phone bills

  • Medical bills

  • Purchase receipts

  • Insurance statements

Your proof of address document must meet the following requirements:

  1. Shows your full name

  2. Shows your full home address (PO Box addresses are not accepted)

  3. Shows the date of issue

  4. Shows the name of the issuing entity

  5. The document was issued in the last 3 months

  6. The whole sheet of paper is visible in the photo

  7. Your document photo is an original photo and not a screenshot

  8. The address printed on the document is not a PO Box address

What is a proof of income / source of funds check and why do I have to do it?

You may be asked to provide proof of income / source of funds when you initiate a buy transaction. With this check, you are being asked to prove that the money you're using to buy cryptocurrency comes from a legitimate source — be it from your salary, profits earned from your business, a loan from the bank, and so on.

Proof of income / source of funds verification is mandated by governing authorities. This means that to stay legally compliant, we must ask for this information. The rationale behind mandating companies to gather proof of income / source of funds information includes:

  • Protecting you from fraud by verifying that you're the one actually initiating the buy transaction

  • Ensuring that your funds are not linked to illegal activities.

How do I verify my proof of income / source of funds?

When you initiate a purchase of cryptocurrency, you may be asked to submit proof of income or source of funds.

Tips for submitting proof of income / source of funds documentation:

  • For physical documents, photos must be high-resolution, show all four corners of the documents, and be unedited.

  • Your name, issue date, and all document information must be clearly visible.

  • For digital documents, you must submit unedited PDF files (no screenshots).

  • All bank statements must have been issued within the last three months.

  • Joint bank account statements are not accepted.

  • Essential information on the documents must be printed in Latin characters (documents with Japanese, Chinese, Arabic, Hebrew, Thai etc. characters only are not accepted).

The following are accepted as proof of income / source of funds:

Salary

  • A recent bank statement indicating receipt of your salary. In this case, you may be additionally asked for:

    • original or certified copy of your payslip (or bonus payment)

    • letter from your employer confirming salary on company letterhead

    • copy of tax return annual statement.

Dividends

  • A certificate showing the distribution of dividends and/or a Certificate of Incumbency. In this case, you may be additionally asked for:

    • latest audited accounts (if self-employed/own company) and company bank statement for the past 6 months

    • declaration from a certified accountant stating that the company is held in good standing order, confirming dividend, share capital and profits generated. The letter shall include a declaration of beneficial ownership of the company.

    • Certificate of Incumbency

    • copy of invoices showing trading activities of sales and purchases.

Savings

  • A recent bank statement of your savings account. In this case, you may be asked for:

    • evidence of account start (letter from account provider or first statement)

    • additional evidence showing the origin of the savings held (e.g. copy of lease agreement and bank statement showing rental deposits for rental income).

Pension

  • A bank statement indicating your pension payment and indicating the name of the pension fund making said payment. In this case, you may asked for a copy of your pension statement.

Cryptocurrency trading

  • A ledger of cryptocurrencies bought and sold, as well as a bank statement showing the profit made. In this case, you may be asked for:

    • screenshot of the account/s used including the balances held

Cryptocurrency mining

  • A ledger of the amount of cryptocurrency mined, as well as a wallet address and transaction hash to which the mined cryptocurrency was delivered.

Inheritance

  • A copy of the deceased's will, and a bank statement showing the received funds, along with your current balance. In this case, you may be asked for:

    • signed letter from a licensed solicitor or estate trustees on letter-headed paper

    • grant of probate (with a copy of the will) which must include the value of the estate.

Loan

  • An executed copy of a loan agreement and a bank statement showing the received funds along with your current balance. In this case, you may be asked for a copy of the identification documents of the individual/s granting the loan.

Sale of property

  • A copy of the contract of sale of a property and a bank statement showing the proceeds of the sale. In this case, you may be asked for a letter from a licensed solicitor or regulated accountant, stating property address, date of sale, proceeds received, and name of purchaser.

Sale of company

  • A letter detailing a company sale signed by a licensed solicitor or regulated accountant on letter-headed paper. In this case, you may be asked for copies of media coverage (if applicable) as supporting evidence.

Sale of other investments

  • A bank statement clearly showing receipt of funds and investment company name or interest on bonds received. In this case, you may additionally be asked for certified investment/savings certificates, contract notes or cash-in statements.

Gift

  • A donor's letter explaining the reason for the gift and the source of their wealth.

  • Donor's identification document (passport or national identification document)

  • Bank statement showing the origin of the gift payment

  • Selfie of donor holding their ID document.

Gambling / gaming winnings

  • A receipt of winnings and documentation (e.g. bank statement) showing the origin of the funds initially deposited.

Why did my card verification fail?

There are number of reasons card verifications fail, but the most common are:

  1. The verification photo you submitted does not meet the requirements. Ensure you upload of photo of yourself holding your card and clearly showing the first 6 and last 4 digits of your card number, but hiding the middle digits. The full name written on the card, which must match your registered name, must also be visible in the photo.

  2. You entered the wrong bank statement code. If you're being asked to verify your card via bank statement code, you'll need to provide the four-digit code that can be found on your bank statement next to the relevant pending charge from MoonPay.

How can I verify my payment card?

When you attempt to make a purchase, you may be asked to verify your card. You'll be sent an email to the email address you registered with MoonPay. In the email, you'll be asked to verify your card via one or both of the following methods:

  1. Card verification via selfie. Here you'll be asked to upload a photo of yourself holding your card and clearly showing the first 6 and last 4 digits of your card number, but hiding the middle digits. The full name written on the card, which must match your registered name, must also be visible in the photo.

  2. Card verification via bank statement code. Here you'll be asked to provide a four-digit code that can be found on your bank statement next to the relevant pending charge from MoonPay.

How can I verify my Apple Pay card?

When you attempt to make a purchase, you may be asked to verify your Apple Pay card. You'll be sent an email to the email address you registered with MoonPay. In the email, you'll be asked to verify your card by uploading the following two images:

  1. A screenshot of your Apple Pay settings screen, showing the last four digits of your device account number and the last four digits of card number**.** You can find this in Settings > Wallet & Apple Pay > Card > Info. The screenshot should look something like this:

2. A photo of yourself holding the physical card that you registered with Apple Pay.

How can I verify my Google Pay card?

When you attempt to make a purchase, you may be asked to verify your Google Pay card. You'll be sent an email to the email address you registered with MoonPay. In the email, you'll be asked to verify your card by uploading the following two images:

  1. A screenshot of your Google Pay app screen, showing your virtual card number and the last four digits of the card number**.** You ****can find this screen in the Google Pay app by clicking on the card you used for your purchase. Your screenshot should look something like this:

  2. A photo of yourself holding the physical card that you registered with Google Pay. The photo should clearly show your face as well as the card. On the card, the first six and last four digits of the card number should be visible, while the middle digits should be hidden. If there's a name on the card, please ensure it's fully visible.

How can I verify my Samsung Pay card?

When you attempt to make a purchase, you may be asked to verify your Samsung Pay card. You'll be sent an email to the email address you registered with MoonPay. In the email, you'll be asked to verify your card by uploading the following two images:

  1. A screenshot of your Samsung Pay app screen, showing the last digits of both your digital card number and card number**.** You ****can find this screen in the Samsung Pay app in the "Pay" tab by tapping the card you used for your purchase. Your screenshot should look something like this:

  2. A photo of yourself holding the physical card that you registered with Samsung Pay. The photo should clearly show your face as well as the card. On the card, the first six and last four digits of the card number should be visible, while the middle digits should be hidden. If there's a name on the card, please ensure it's fully visible.

What if my ID is expired?

To successfully completed the ID verification process, you must submit an ID that has at least three months of validity remaining. For example, if the current date is January 1, your ID's expiry date must be no sooner than April 1. There are no exceptions to this requirement, so you'll need to obtain and submit a new ID before continuing.

Also please note that temporary IDs such as a temporary replacement driver license, voter's card, national identification number slip, an emergency temporary passport etc. are not accepted.

There is no code on my bank statement. What can I do?

If your bank statement doesn't show the requested code, please fill out this brief support request.

  • In the first field, select "Card verification" from the drop-down menu.

  • Enter your MoonPay registered email address

  • In the "How can we help?" field, select, "No code on bank statement" from the drop-down menu.

  • Check your email inbox. You'll be asked to verify your card by sending a photo of yourself holding the card and clearly showing the first 6 and last 4 digits of your card number, but hiding the middle digits. The full name written on the card, which must match your registered name, must also be visible in the photo.

How can I verify a virtual credit card?

During the buy process, you'll be asked to upload a screenshot of your bank statement that shows the pending charge from MoonPay.

I don't have my bank card right now. Can I still be verified?

Unfortunately, if you don't have access to your bank card, MoonPay will not be able to approve a transaction. Please place another purchase order when card your card is available.

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