Required Documentation For Large Bank Transfers

If you’re sending a large bank transfer to buy crypto, or selling crypto and receiving a large bank transfer back to your bank account, our compliance team may ask you to complete a Source of Funds review. This is a standard check for larger fiat transactions. Because of regulatory requirements, we need to verify where the funds came from before we can approve the transfer. Having the right documents ready can make the review process much faster.

What is Source of Funds?

Source of Funds means documents that show how you got the money used for the transfer. In most cases, we need to see both:

• proof of where the money came from
• proof that the money was received into your personal bank account

A bank statement can help, but it is often not enough by itself. In many cases, we will also need a document that explains the origin of the funds.

Important rules before you submit documents

For personal accounts, we only accept bank transfers from a personal bank account under the same name as your verified Plasbit account.
We do not accept corporate source of funds for personal accounts. If you are using a business account or acting on behalf of a company, please contact support@plasbit.com for the corporate requirements.

What your documents should show:

Any documents you provide should clearly show:

• your full name
• the source of the funds
• the amount received
• the date the funds were received
• enough information to cover the full transfer amount

If you are submitting bank statements, they should clearly show the incoming funds and the account holder details.
Please send full documents whenever possible. Screenshots, cropped pages, or incomplete files may delay the review.

Should you send documents in advance?

No, There is no need to send Source of Funds documents before you start the transfer. We can only review them once the transaction is in progress and our compliance team has requested them.

Are translations required?

If your documents are in a non-Latin script, they must be translated.
If they are in a Latin-based language, you can usually submit them in the original language.

What documents might be required?

The exact documents depend on how you got the money. Below are common examples.

Salary income

If the money comes from your salary, we may ask for:

• recent payslips
• your employment contract showing salary details
• a letter from your employer
• bank statements showing salary payments, usually from the last 3 months

The documents should clearly show your employer, your role if relevant, the payment dates, and the amount received.

Sale of property

If the money comes from selling a property, we may ask for:

• the signed final sale agreement
• a letter from a lawyer, notary, or other relevant professional
• bank statements showing the funds received
• property register extracts or ownership records

The documents should clearly show the property details, the parties involved, the date of sale, and the amount received.

Investment returns

If the money comes from investments, we may ask for:

• investment account statements
• portfolio statements
• certificates or confirmations from the financial institution
• bank statements showing the funds received

The documents should show the type of investment, the value realized, and when the money was paid to you.

Inheritance

If the money comes from an inheritance, we may ask for:

• a copy of the will
• probate or court documents
• a letter from a lawyer or executor
• bank statements showing the inherited funds received

The documents should show your entitlement, the amount received, and the date of receipt.

Loan proceeds

If the money comes from a loan, we may ask for:

• the loan agreement
• a loan statement or lender confirmation
• bank statements showing the loan amount received

The documents should show the lender, the amount, the date received, and the purpose of the loan if relevant.

Other sources

If the money came from another legitimate source, we may ask for:

• written confirmation from the payer
• letters from a lawyer, accountant, or financial professional
• supporting agreements or records
• bank statements showing the funds received

The key point is that the documents need to clearly explain where the money came from and show that it was actually received by you.

How many documents should you submit?

If we request Source of Funds, send everything relevant you have from the start. The more complete the picture is, the faster the review usually goes. If something is missing, our compliance team may ask for more.

Final note

Large bank transfers sometimes require extra review. This depends on the transaction, the payment route, the documents provided, and the overall risk review. If Source of Funds is required, our team will tell you exactly what is needed for your case.