Required Documentation For Large Bank Transfers

When you initiate a bank transfer to your PlasBit account, whether for a top-up or to purchase cryptocurrencies, our standard account verification process will apply. However, for high transfer amounts, we may need to verify the origin of your funds, and additional documentation might be required for any incoming transfer under your name.

Having the necessary documents ready beforehand can help expedite the process if verification is needed.

What Documentation Might Be Required?

This article lists examples of documents we might ask for, along with further explanations and details. For personal accounts, only transfers from personal bank accounts that match the verified name on your PlasBit account are accepted.

Please note that corporate source of funds is not permitted for personal accounts. If you are a corporate client, please get in touch with support@plasbit.com for detailed requirements. Personal accounts must provide documentation that reflects private, non-corporate sources.

Essential Details Your Documents Should Include

Any documents you provide should clearly display your full name, the total amount (covering the full transfer), and the date the funds were received. Depending on the source of the funds, additional information may be necessary.

How Many Documents Should You Submit?

If we request proof of funds, it's best to provide as many relevant documents as possible from the options listed below. We may contact you if further information is needed.

Can A Bank Statement Suffice?

While bank statements are helpful for verifying fund sources, they are often insufficient alone. It’s advisable to provide additional documentation.

Should You Submit Documents In Advance?

There’s no need to submit documents before setting up your transfer, as we can only review them once the process has begun.

Are Translations Required For Documents?

If your documents are in a non-Latin script, they will need to be translated. Documents in Latin script can be submitted in their original language without translation.

Documentation For High Transfer Amounts

When you’re transferring funds from a personal account, here’s what you might need, depending on how the money was acquired:

· Sale Of Property

For funds sourced from a property sale, you might need to provide documents that detail:

- The date and amount received

- Signatures of involved parties

- Property address and description

- Duration of ownership

Examples include:

- A signed final sales contract

- A letter from a legal or financial professional

- Bank statements showing the received funds

- Property register extracts

· Salary Income

If your funds come from your salary, documentation might need to include:

- Your role and annual income

- Employer’s details

- Employment and payment dates

Examples include:

- Recent payslips

- Employment contract sections covering salary

- A letter from your employer

- Bank statements from the last three months

· Investment Returns

For funds originating from investments, necessary documents might show:

- The date and amount received

- Types of investments

Examples include:

- Investment certificates or statements

- Confirmation from financial institutions

- Bank statements showing received funds

· Inheritance

If your funds are from an inheritance, documents may need to show:

- The date and amount received

- Information about the will and your relationship to the deceased

Examples include:

- A copy of the will

- Probate or court documents

- Letters from legal professionals

- Bank statements showing received funds

· Loan Proceeds

For funds acquired through a loan, required documents might include:

- The loan amount and date received

- Lender details

- Loan purpose

Examples include:

- Loan agreements or statements

- Bank statements showing received funds

· Other Sources

For funds received from other sources, documentation might need to show:

- The date and amount received

- Reason for receiving the funds

Examples include:

- Letters from financial professionals

- Written confirmation from the payer

- Bank statements showing received funds

Please note that what qualifies as a "High Transfer Amount" can vary based on location, bank, verification details, and other factors. Our goal is to ensure a seamless process, and our team will guide you through any specific documentation requirements tailored to your situation.

If you have any questions or need assistance, our support team is here to help.