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KYC limits and tiers.
How does Ramp perform KYC verification?
Ramp is a globally compliant on-ramp. As such, we have to make sure we adhere to KYC rules concerning cryptocurrency purchases. In practice, this means that you as a user will need to work with us to verify your identity in order to transact via Ramp. Very often we are able to complete KYC identity verification using your bank account data via open banking API. This process takes seconds, and no physical document is required. We try to keep formalities to the necessary minimum,
PoA Verification guidelines
Proof of Address Proof of Address verification is processed manually, thus it may take longer than usual when there’s a surge of new users. Accepted documents The documents we accept in this stage are: bank statement debit or credit card statement utility bill (water, electricity, gas, internet, phone) payslip, payroll statement. or similar document from your current employer insurance statement tax document residence certificate any letter from the government aut
ID Verification guidelines
To ensure the safety of our users and the system, we need to perform KYC verification. This is done in compliance with global standards and on different tiers depending on determined risk and volume of transactions. Identity verification is processed automatically by our verification service provider. Accepted documents The documents we accept in this stage are: passport driver’s license government-issued ID. General guidelines Make sure your document is not expire
What are the KYC limits?
Tier 1 - Basic Information Card Payments - 100 EUR per day, 5 transactions in a lifetime Bank Transfers - 250 EUR per transaction, 5 transactions in a lifetime Tier 2 - Bank API Check Card Payments - 200 EUR per day, 2000 EUR per month, lifetime limit 20 000 EUR Bank Transfers - 750 EUR per transaction, 5000 EUR per month, lifetime limit 20 000 EUR Tier 3 - Identity Document Verification Card Payments - 5000 EUR per day, 20 000 EUR per month, lifetime limit 100 000 EUR Bank Tran
What documents do I need to provide to be verified?
In order to be verified, you will need to provide us with: A high-resolution photo of the government-issued, non-expired ID (passport or a national identity card). The submitted image requirements include: full-color image - black and white, watermarked, etc. are not accepted all information on the ID must be completely clear and readable - Ramp does not accept IDs that are torn or worn out the edges of the ID document must be clearly visible on a contrasting background
What data does Ramp obtain from me or my bank account?
We look for payment confirmation in your transfer history to settle the transaction and check some basic personal data about you for KYC purposes required by law. We only use the data to settle transactions and comply with AML and CFT laws. We need you to connect your bank account because the finalization of the transaction is based on the data we obtain from your account - i.e., we know you paid for the crypto you're buying. This way, we can settle your transaction much faster. We also use th