Individual Verification Criteria

Introduction

All individuals using SpherePay’s on-ramp or off-ramp services must be verified before transfers can be initiated.

Onboarding Requirements

• First and last name
• Country
• Street address
• City
• Postal code
• Province / State
• Country
• Date of birth
• Email
• National identity number (required for non-USA residents)
• Social Security number (required only for USA residents)
• ID verification (optional for US residents with minimal payment activity)
• Proof of address (may be required for SEPA access or EEA+ residency)
  • Required when conflicting location signals are detected such as a photo ID from prohibited/controlled region

For high risk populations (e.g. residents of high-risk region or individuals 60 years or older) and/or high volume transactors, SpherePay collects information about the customer's source of funds and expected use:

• Occupation
• Employment status
• Source of funds
• Primary purpose of the account
• Expected monthly amounts to be sent or received
• Intermediary status ("Are you receiving or sending funds on behalf of someone other than yourself?")

In rare cases, SpherePay may request additional information during the onboarding process.

Individual Identification Numbers by Country

The following lists identification numbers that SpherePay will accept for individuals by region.

• passport, national_id and other are valid options for all countries except the USA.