Account Verification & Limits

At BoomFi, we are required to complete Know Your Customer (KYC) or Know Your Business (KYB) checks before you can utilize our Card Ramp or OTC Exchange services. This helps us to comply with our anti-money laundry (AML) obligations as a licensed Virtual Asset Service Provider.

Verification differs for individuals and businesses, with two tiers: Level 1 provides access with restricted limits, and Level 2 offers higher limits.

Here's the summary:

Verification Level 1 Verification Level 2
OTC Card OTC Card
Fiat to Crypto 50,000 EUR /day 3,000 EUR /transaction

5,000 EUR /day

20,000 EUR /month
100,000 EUR /day 3,000 EUR /transaction

10,000 EUR /day

50,000 EUR /month
Crypto to Fiat Withdrawal 50,000 EUR /day - 1 million EUR /day -
Verification Attributes KYC Name, email, phone number, ID doc, liveness selfie, wallet screen Level 1 + Proof of address, proof of source of funds/source of wealth, wallet screen
Verification Attributes KYB Company docs, source of funds, business questionaire + wallet screen Custom KYB onboarding