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 | ||
Updated 4 months ago