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To ensure Instabridge is compliant with regulatory requirements, there are 4 different AML (Anti-money laundering) tiers for users. The higher your AML tier the higher your approved transaction volume in Instabridge. You can increase your approved tier of AML through Instapass by providing Instapass with more information on the source of your funds, helping us prevent money laundering.You will need to upgrade your AML tier before creating a transfer which exceeds your current tier limit. You will be unable to create a transaction which exceeds your AML tier limit.
Please be aware that reviewing source of funds documentation may take several working days.
Tier 1: Once you have passed KYC (Know Your Customer) through Instapass you will be able to select an AML tier. Tier 1 allows you to complete up to $15,000 value of transactions per year. You will be required to select your primary source of funds from a dropdown list. Source of funds is defined as the activity which generated the funds you used to purchase eXRD or XRD. The options for source of funds are as follows:
- Occupation
- Investments
- Savings
- Inheritance
- Credit/Loan
- Family/Others
- Cryptocurrency
- Sale of Property
- Company Sale
- Lottery/Betting Winnings
- Compensation Payment
- Other
Tier 2: This tier allows up to $100,000 value of transactions per year. As well as providing information about your source of funds and providing documentary evidence of this, you will also be asked about your employment status, career and your source of wealth. Source of wealth can be the same or different to your primary source of funds and is described as the origin of your entire body of wealth.
Please note you will be required to submit the whole document with no redactions.
Tier 3: This tier allows up to $1,000,000 value of transactions per year and will require you to provide documentation proving your source of funds. Legal agreements are the most commonly acceptable forms of proof of funds, you will need to provide the whole agreement for review. Acceptable proof of source of funds may vary, the following documents are provided as examples but depending on the circumstances there is no guarantee they will be accepted. You will also need to provide information on your employment status, occupation and source of wealth including documentary evidence.
Tier4: This tier allows an unlimited value of transactions per year. You will be required to provide documentation that is evidence of wealth of over $1,000,000.
If further information is required to support your application, you will be emailed by support@instapass.io.
