KYC stands for “Know Your Customer” which is to verify the identity of a user, while AML stands for “Anti Money Laundering” which is to check the possibility of user involvement in any anti-money laundering or financial terrorism (FT) cases. Both requirements are imposed on any cryptocurrency provider.
With compliance mandatory for most banks in many countries, all Everus Wallet users are required to go through KYC Verification. KYC Verification is mandatory for withdrawal of USD 5,000.00 and above. Only a valid passport, government-issued identity card or driving license can be used to scan for KYC.
You will need to submit photos of your valid ID such as passport or driver’s license and a selfie of yourself by following the instructions given to proceed with KYC application.
When you upload your documents, please make sure that you are capturing all four edges of the documents and it’s clear to read in high resolution/quality with sufficient lighting. Please do not upload screenshots or alter the photos with any app/software editors.
The processing times for KYC verification can vary. Once all documentation has been submitted, the KYC verification process is usually completed within three days. Users will be informed via in-app notifications when their KYC verification is completed. If you still yet to be notified after three days, please contact Everus support at email@example.com.
1. (For Existing Users) In the unfortunate case that your KYC application has failed, chances are you are detected to have a sanction or case related to AML/FT by the system. You will be given 48 hours to appeal with firstname.lastname@example.org. Failing to do so will result in your account termination. In such an event, all remaining funds will be transferred to an escrow account.
2. All of our clients account data are encrypted and all accounts are completely isolated from each other. Thus, your privacy is completely protected. In addition, our solution was built by compliance practitioners who are well versed in KYC and AML processes.