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Knowledgebase: Identification
Why should I verify my identity?
Posted by Michael A on 06 February 2014 07:27 AM

InterMoney Exchange, Corp., the owner of the service, is a licensed and regulated financial institution. This maximally protects our clients’ funds and other interests, making dealing with us extremely safe and secure. But being a licensed and regulated entity not just serves ours and our clients’ interests, it also obliges us to comply with certain regulations. One of the most important obligations for a financial company is to develop and follow Anti Money Laundering Program, Know Your Customer and Anti-Fraud Policies

Nowadays it’s impossible to provide anonymous financial services without breaking the law. Being law-abiding citizens and having a serious approach to the business require us to identify the clients, and such practice serves well for both parties! You cannot be both anonymous and secure while performing money exchange operations; dealing with underground exchanges without KYC practices has serious risks of losing money and/or being involved in criminal activity. 

We’ve developed the process with clients comfort in mind, so it’s quite easy and does not take much time! If you are a first-time user of our service, you have an opportunity to try the quality and speed of our service without the need to send us your identification documents! We cannot work with anonymous clients, but we allow single exchange orders with amounts up to $300 in equivalent without prior identification. *

Right after you submit an order requiring your identification, you will be redirected to the verification page, where you will be able to upload your ID and other necessary documents. The procedure is described in our article "How to become a verified user?" We have determined the sets of verification rules (documents and information requirements) for specific exchange directions and/or amounts. So in some cases only providing a valid ID scan or photo will be enough; for other orders, you might be required to verify you address, phone number, etc. Basic verification rules may be found in your Personal Account ("Overview/Our Verification Rules").  Regarding the time required, it usually varies from a few minutes to a few hours, depending mostly on the quality/quantity of submitted documents and information. You will be notified by email when your application is approved, or in case our staff has any questions to you. You won’t need to pass through the process of identification every time you place new order. Generally speaking, verification is required one time only!

Privacy of your data is our priority; you have no reasons to worry about it. InterMoney Exchange takes your privacy extremely seriously! All collected documents are moved to secure offline storage after identification is completed. Due to our Privacy Policy we will never share your personal information with third parties, unless required by law of our jurisdiction. Being incorporated and headquartered in Belize, loyal to International Financial Companies, strong support of law firms and interaction with regulatory authorities provides complete safety of customers' funds as well as the maximal legally allowed privacy of clients' information.

InterMoney Exchange is creating a new standard of digital currencies exchange - easy, safe, affordable and available for everyone! Please give us a try creating an order on 247exchange and see how fast, reliable and convenient we are!

If you have any questions or concerns, you are welcome to our Customer Support, we are glad to help you 24/7/365!

* – Additional restrictions might apply. Certain payment methods require verification regardless the amount (credit cards for example), also in case of fraud suspicions we have the rights to request additional documents, information, etc.

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