KYC levels for Individual User
TransFi API Requests for KYC, based on the transaction risk identification, geography and transaction amount. Based on these mentioned parameters, you can be asked to submit Standard KYC and later on Enhanced KYC.
On a very high level (This can vary based on geo)
- Basic KYC / Level 0 requests for - User's basic information such as First Name, Last Name, DOB, Country, Email, Phone and Address (To be submitted during user account creation).
- Standard KYC / Level 1 requests for - ID doc, Selfie, Address, Phone number
- Enhanced KYC / Level 2 requests for - Proof of source of funds (PSoF), Address proof
Also there are transaction limits beyond which each KYC kicks in. It can be at a per transaction amount, sum of all transactions in a day, sum of all transactions in a month.
While creating an order, if the transaction limits are breached, following error codes will be returned,
STANDARD_KYC_REQUIREDENHANCED_KYC_REQUIRED
In such case, user needs to submit kyc
For exact thresholds, please connect directly with the BD Manager or email us at [email protected]
Updated 2 days ago