KYC and AML FAQs


#355

It’s different for different countries


#356

@Rachel please look into this forum we need help

Regards


#357

We cannot change what is required by regulations.


#358

:frowning: … And I thought this forum would solve my problem … bye bye etn


#359

isn’t internet provider bill accepted instead of bank statement ?


#360

hello sir i have verified level 2 verifiction but i am uploading my bank statement letter so they does not verification the company said to me tihis message but i am uploading real documents
Unfortunately the source of funds document that you previously uploaded does not meet the requirements as set out in the information below.


#361

Hi Rachel,

Do i need yoti to get level 2 confirmation?
Can’t i just upload my passpoort to the ETN app?

Because the ETN app is not accepting my passpoort upload. It keeps jumping back to the same screen where it asks for me to upload voor level 2 confirmation.

What could i be doing wrong?


#362

@Rachel,

Since KYC was rolled out some months ago I have been unable to use my ETN account. I can log in but it just directs me to the verification page (even though I had already completed level 1 and my balance was well under the level 2).

Today I provided the details to pass level 2 verification, however it still does not allow me to access my wallet (so can not even check the balance).

The FAQ “I don’t hold more than the Level 1 threshold but I’m being asked to complete Level 2/3, why?” is not relevant as I do not live in the countries mentioned.

Please help.


#364

Hello,

I have sent in my 1099 document that I received in January showing my salary for all of 2018 and it’s being rejected. I even sent in my bank statement and it’s being rejected.

I have about 5000 etn and I want to send to someone else’s wallet. Can I do this without having level 3 kyc? I already have level 2. Thank you.


#365

I’m trying to do lvl 3 verification. It clearly says, pay stub or bank statement. I go to my online banking, go to statements, go to most recent statement for FEB and take a screenshot of the first page that has balance, name, address and so on. I upload it, and I get this:”You need to show the credits and debits of the account”
Is this a god damn joke? Whoever reviewing this documents must be having fun. You can only upload 1 picture at a time, what does it even mean CREDITS AND DEBITS?! Ok, I go online banking, take a main window screenshot that shows credit and debit lines. Rejected. I go different credit card statement. Rejected. What the hell is going on? Can you explain what should I upload?? How does DEBIT BANK STATEMENT, FROM THIS MONTH, does not meet criteria? Thank you


#368

why do i need to fill out level 2 when i have never received or sent even one etn?

Identity Verification and Account Limits

Deposit / Receive ETN - completed
€150 per 3 month period???
€10,000 per 3 month period???

can you also let me know why you did not let users know this before suspending account??

You may VOLUNTARILY complete these levels in advance of your future
needs, but they will become a requirement if your account’s activity
EXCEEDS the upper limit of the account level that you are currently on.


#369

please read the FAQs above.


#370

What country are you in?


#372

Ok I am level 2 compliant and am trying to do level 3…I am self employed, so Pay slip or employer documentation isnt possible, so i sent over my Bank statement with in last 3 months as stated…It doesnt show any funds going into ETN, because i have been in crypto for 1.6 years now and was in bitcoin and eos before, so the bank statement doesnt show anything more than my address and account details and a balance and no proof of funds going into crypto…This all came from capital from a previous house i owned…So it was rejected but with no reason why and what to do to satisfy…Can any one help please…i am finding this KYC harder than opening a new bank account…


#376

Hi Team of Electroneum.
I leave here my complaint. If you want to do KYC you can do it and you are in your right. But what I think is that you should not do it without first giving people the opportunity to choose if they want to mine ETN like that. I am deprived of my 1000 ETNs and I can not access the app to remove them. I do not agree with KYC because I have the right to my privacy. Electroneum should have given the opportunity to the people that are mining to choose and not to make a KYC unwittingly. I find a lack of respect on your part for those who accompanied you from the beginning. Or Electroneum can arrange a solution for me to withdraw my coins without having to make a KYC. Or I will stop being supporter of this coin. It is a lack of respect. I should have been warned in the app and given the opportunity make KYC or withdraw my money. I have never received any information. I’m very disappointed with they way you do things.


#377

Its unfortunate that KYC is required, but its necessary for the teams route to mass adoption.

Electroneum have been discussing the move towards KYC compliance for well over a year, it has been discussed on social media and emailed to users… There has been NO shortage of advanced warning.

If you hold or use over $150 of etn in 3 months, abuse the system or are in a country flagged by the international community… you must complete the level requested in order to use Electroneums system and get your Free coins. If you don’t wish to use their system, you can interact with the blockchain direct via CLI and/or paper wallets. All of this information is above already.

The network is now KYC compliant and all users must abide by the regulations. As i said, its unfortunate its required, but its essential to gaining the commercial partners needed for adoption and ensuring the ETN infrastructure sat on top of the blockchain is not used for large scale nefarious activities.


#378

As I said before, I realize that you have your rules. And I never said the opposite. But I also have my rights. I have the right to have the option when I enter the app to withdraw my money or make the KYC. You are depriving people of doing so. I have 1000 ETN in postman and I would like to have them back because they are mine. I ask you not to waste more time, to send me the information as I can withdraw my coins. thank you


#379

In order to use the Electroneum Ltd system and the free ETN you have mined, you will need to do the required KYC level like everyone else, so as to ensure the integrity of the network compliance.

Unfortunately the team cannot make exceptions or they would not be following the AML legislative requirements.


#380

if you don’t agree with KYC, you had months and months to withdraw your ETN before KYC was implemented and mandatory. You had plenty of warning.


#381

I’m not a lawyer but from the text below it seems you don’t have the right to access your etn if you don’t do KYC

"
36.2.4. Strictly on the basis that your use of the Services and Digital Content is at your risk and that you agree to hold us harmless from any liability in relation to your use of the Services and Digital Content, for example if your ETN is rendered inaccessible as a result of your non-compliance with these terms and conditions as a result of which we suspend, limit or withdraw your access to the Services and Digital Content in accordance with clause 31.4
"

read at