Q: What is Identity Verification?
A: Identity Verification is a regulatory requirement that involves identifying and verifying a user's identity. All users are required to undergo the Flipster identity verification process before trading on the platform.
Q: Why do I need to complete Identity Verification?
A: Identity verification is essential to ensure the security of users' accounts and protect our platform from financial crimes such as fraud.
Q: How to complete Identity Verification?
A: You may complete Identity Verification by logging in to your account and clicking on the [Account] menu. Then, click on [Identity Verification] to proceed.
Q: What proof of identity documents does Flipster accept?
A: Flipster accepts the following government-issued documents as proof of identity:
(a) Passport
(b) National ID Card
(c) Driving License
** Please be reminded that the provided documents should be valid and not expired. Kindly refer to this article for the step-by-step guide on how to complete Identity Verification Level 2.
Q: What proof of address documents does Flipster accept?
A: Proof of address is a document that states your current residential address and contains your full name. The document should also have a statement issue date that is within 3 months of submission. Flipster accepts the following documents as proof of address:
(a) Bank statements
(b) Credit card statements
(c) Residential utility bills (electric, water, or gas)
(d) Tax returns or statements
(e) Home internet bills
(f) Tenancy agreements
** Please note that the provided documents should be issued within the past 90 days. Kindly refer to this article for the step-by-step guide on how to complete Identity Verification Level 3.
Q: What are source of funds?
A: Source of funds refers to the origin of funds used to make trades on the Flipster platform. This could include personal savings, a loan, a gift, an inheritance, or income from employment or business activities.
Q: Why do I need to declare my source of funds?
A: Source of funds declaration prevents illegal activities such as money laundering and financing of terrorism. This helps financial institutions verify legitimacy of funds and ensure compliance with anti-money laundering regulations.
Q: What source of funds documents does Flipster accept?
A: Source of funds is a document that states the origin of the money used to make trades on the Flipster platform and contains your full name. The amounts stated in the document should support your deposit activity on the platform. Flipster accepts the following documents as source of funds:
(a) Payslips
(b) Bank (savings) statements
(c) Sale of property
(d) Sale of a business
(e) Inheritance, Profit from trading activities, and Pension funds
** Please note that the provided documents should be issued within the past 90 days. Kindly refer to this article for the step-by-step guide on how to complete Identity Verification Level 4.