Level 3 in KYC means


#1

By passing level 3 in KYC process we can send ETN over 10,000 Euro in 3 months!
This word “over” is important.
Maybe somebody thinks that 10,000 Euro is a limit in per 3 months! But you can send over 10,000 Euro by passing level 3.
Am I right guys?


#2

No, actually it is limitless.
Then what would have been the point on passing the third level as well, unless you had total control?


#3

wait so level 3 gives u a limit of 10k euro?


#4

To me expression “over 10,000 Euro in 3 months” means without sending limits.


#5

No, it is limitless.
The way they formulated the info isn’t very explicit.


#6

I’m not sure if I understand this at all. If one have 10 mio ETN in the wallet can or can not withdraw all at once?


#7

If you are level 3, yes, there is no limit.
Only that I believe it will not be an instant transaction, which, in my opinion, is understandable.


#8

But why is there specifically stated “10000” and “3 month”? That’s confusing me the most.


#9

Yes, the phrase is formulated badly.


#10

Agree with you. To make it all crystal clear.

Level 1 - up to €150 per 3 month period
Level 2 - up to €10.000 per 3 month period
Level 3 - unlimited


#11

Agree, this’s simply inadequacy which will be corrected in near future i believe :grin:


#12

Dude!
It means we can send ETN between 0-150€ in 3 months only by write our names down in the wallets?!


#13

If you are level 3 you can transfer 1 billion ETN at one time if you like! There are no issues at all.


#14

According to etn database, at this moment not many people need to complete level 3 but you could if you want.


#15

What that supose to mean?


#16

Meaning, Richard said in latest video that from what they can see it is a small percentage of users that actually need to complete level 3 but if you choose to complete it you can and be ok for the future


#18

I am about to do tier 3. After I finished tier 2 the page said: If you wish to upgrade your account to level 3 to enable unlimited Electroneum transfer, please upload the document as described below.


#19

I stand corrected then, thanks!


#20

What documents it needs to upload for tier 3?


#21
Recent payslip (or recent accounts if self employed)
Letter from employer indicating salary
Recent bank statement