Why do you need this information?

As a regulated financial institution, we are obligated to follow strict compliance protocols. As such we require all customers on the platform to be fully verified with proper identity information and documents.

What do I need to provide?

During the registration process, we will ask you to provide us with your personal identity information as well as a valid state-issued identity document.

During the registration process you will provide us with the following information:

1. Full legal name (First and last name)
2. Date of Birth (DOB)
3. Citizenship
4. Full address (Country, City, Street, and Postal Code)
5. Personal mobile phone number
6. Employment status and industry you engage in
7. If you are a Politically exposed Person (PEP)

After this we will require you to provide us with one of the following identity documents:

1. National ID
2. Passport
3. Drivers License

Please note that depending on your residence not all forms of ID will be accepted. Account opening and verification are processed exclusively through the platform, therefore please don’t send us the required information via our email line or through the on-platform chat. 

Status after submission:

Once you have provided all of the requested information it will need to be processed by us before you can start using the platform. Usually, this happens within 1 hour after submission but in certain cases, it can take up to 48 hours. Your verification can have the following states:

Verification in process

Description: Your application is pending our team's review.

This is a case-by-case process and may take anywhere from 1 hour to a couple of business days to be completed. If the status doesn’t change within 3 business days, please contact our Support through the on-platform chat or our email line (support@smartvalor.com)

Please be mindful of the instructions we provide you with and never send us any personal information if we have not requested such. (This includes pictures, scans, PDFs, etc.)

Verification incomplete

Description: An issue occurred during the verification of your information and one of the above elements needs to be resubmitted.

You can attempt to resubmit your verification documents by clicking on the top right verification level button. If you need to correct mistakes in your personal information you will need to reach out to our Support.

Verification completed

Description: Your verification is complete and you can proceed to use the platform freely.

Disclaimer: Under no circumstances would any member of the Smart Valor team reach out to you via Social media and request you to send them personal information, pictures of your identification documents, or account information that could be used to access your account.

What are the different verification levels on SMART VALOR?

Based on the amount of business you wish to do on the platform, your SMART VALOR account will be linked to specific customer verification levels. There are 4 main verification levels Blue, Silver, Gold, and Platinum. The lowest level at which point your account becomes functional is the Blue level.

The following table summarises the different verification levels and the corresponding investment amounts:

What are the requirements associated with each verification level?

Based on your desired investment amount, you will be required to provide us with additional information to be reviewed for the purposes of Anti-Money Laundering (AML) and Regulatory Compliance. The requirements for each verification level are as follows:

 

Blue Level:

• Annual funding estimation
• Description of investment sources
• Your employment status
• The industry you are engaged in
• Know your Customer (KYC) identity verification (National ID/Passport/Driving License + Selfie)

Silver Level:

• All of the above
• Your exact annual income
• Your total liquid net wealth
• A detailed explanation of Source of Funds (SoF)

Gold Level:

• All of the above
• Documentary evidence of the deposited funds in your account (Proof of Payment/Transfer Confirmation documents from your bank or Deposit Statement/Transaction History documents from other exchanges)

Platinum Level:

• All of the above
• Address Proof documents
• Explanation of total wealth
• Proof of total wealth

For proof of residential address verification, one of the following documents is accepted:

• Utility Bill
• Statement issued by a bank/financial institution (If sending a credit/debit card statement, please make sure to mask the card number.)

Please make sure that the document is under your name and is issued within 3 months of submission.

When capturing a document please keep in mind to:

• Capture it fully with all four corners visible. Partial scans of documents will not be accepted.
• Keep the document unaltered, except when masking bank account or card details
• Capture the document vertically to ensure the full document is captured fully.

What do you do with my information?

SMART VALOR uses your information solely for verification as required by applicable laws and regulations. SMART VALOR does not use the information you submit for any other use. 

What is “Source of Funds” and what documents are accepted?

As a regulated financial services provider, we are occasionally required to collect and verify additional information and/or documents from Smart Valor customers in order to comply with Anti-Money Laundering and Customer Due Diligence laws. Proof of Source of Funds refers to a document that displays the origins of the money or assets used to fund your Smart Valor account. In some cases, such as large Crypto deposits, we may require you to provide us with an explanation and proof of where and when the funds were acquired.

What is considered a proper Source of Funds document?

In order for us to accept your Source of Funds documentation the document you send us needs to comply with the following requirements:

• Must be in one of the following formats: .pdf, .png, .jpeg, .jpg
• Should be visible in full, with all four corners of the document captured if you are sending us a photo or scan of a physical document.
• Your full name, address, date of issuing of the document, and dates of transactions should be clearly visible
• All transaction details should be clear and legible
• While you are allowed to cover sensitive information (Full card numbers or similar), the inbound transactions (your income) and the outbound transactions (your deposits to Smart Valor) need to be clearly visible
• Bank statements/payslips / other documents must be relevant to the time period in question and should also reflect your most recent balances

What are the possible sources of funds and what proofs are acceptable for each?

• Employment income / Salary:

A description of your employment situation. The name and type of company you are working for, your work position and professional activity, your tenure in the company, and the amount of income you receive. 

We will require you to provide a recent payslip from your employer (and/or a tax statement declaring your income) as well as a bank statement showing your recent balances.

• Savings:

A description of the origin of your savings, the name of the previous employer or business and the professional activity, if relevant, the time of building the savings, and the approximate amount of savings.

Copies of relevant bank statements describing the flow of the funds.

• Property sale:

A description of the origin of your funds related to the property sale, the type of property, its location, time of the sale, and the income received.

A copy of a contract of sale (or a copy of a land registry, a title deed, or a letter from a real estate agent or a lawyer confirming the sale of a  property) as well as a bank statement that displays the proceeds of the sale being deposited.

• Investment income (Crypto/Stock/Fiat):

A description of the origin of your funds related to the investment proceeds, the type of investment, its location, time of the investment activities, and the income received.

Copies of relevant bank statements describing the flow of the funds.

• Company sale/shares sale:

A description of the origin of your funds related to the company sale, the name of the company, the industry the company was engaged in, its location, professional activity, time of the business activities and time of sale, and the income received.

Copies of relative statements involved in the sale of the company along with bank statements describing the proceeds of the sale being deposited.

• Dividents:

A description of the origin of your funds related to the dividend proceeds, the name of the company, its location, industry the company is engaged in, professional activity, the type of dividends, time engaged, and the income received.

Copies of relevant bank statements describing the flow of the funds.

• Crypto mining:

A description of the origin of the funds used to set up the crypto mining process, if done under a registered business its location, and name. Required will also be the time of the mining activities and proof of the received POW/POS rewards.

Copies of relevant bank statements describing the flow of the funds.

• Inheritance:

A description of the funds related to the inheritance, the name of the testator and the relationship, the time of the inheritance, and the funds received.

Copies of a testament (or letter from the executor of the will/lawyer) along with a bank statement that displays the deposit of the funds into your account.

• Gift:

A description of the funds received from the gift, the name of the provider and the relationship with them, the location and receiving time as well as the amount of the funds received. If the gift was not monetary a description of what was received along with when and where it was sold would be required as well.

Copies of an affidavit/letter from the donor explaining the nature of the gift as well as relevant bank statements reflecting the deposit of the funds in your account.

• Social security:

A description of the type of social security, the name of the payee institution, its location, and the time of receiving the social payments.

Relevant documents that show the type of security being received, fund statements where relevant, along with relevant bank statements reflecting the deposit of the funds in your account.

Please be advised that in order to verify the legitimacy of each document it must be as lightly redacted as possible, i.e. in the case of bank statements, we need to clearly see all of the inbound and outbound transactions.