Required Information/Documents (RFI)

To ensure compliance with regulatory and security standards, recipients of third-party transactions and inflows exceeding the set threshold may be required to provide additional information. Below are the details of the required information and acceptable documents.

Required Information

Source of the Funds

You will need to provide evidence that explains the origin of the funds. Acceptable documents include:

• Bank Statements: Showing regular income deposits, savings, or investments.
• Pay Slips or Salary Statements: Demonstrating regular employment income.
• Investment Statements: Showing proceeds from the sale of stocks, bonds, or other investments.
• Inheritance or Gift Documentation: Such as inheritance certificates, gift letters, or proof of transfer.
• Sale Agreements: For property or other valuable assets.
• Business Income: Profit and loss statements or tax returns for self-employed individuals.
• Loan Agreements: If the funds are from a loan, documentation showing the terms and conditions.
• Savings or Investment History: Showing accumulation of funds over time.
• Receipts of Sale: For items sold that resulted in the funds.
• Legal Settlement Documentation: If the funds are from a legal settlement.
• Pension Statements: Demonstrating regular pension income.
• Dividend Statements: Showing income from dividends.
• Other Income Sources: Any other legitimate source of income that can be documented.

Purpose of Funds

Evidence must be provided to demonstrate the intended use of the funds. Acceptable documents include:

• Purchase Agreements: Such as contracts or agreements for real estate, vehicles, or other high-value items.
• Receipts or Invoices: Showing payments made for goods or services.
• Travel Itineraries: Demonstrating bookings and expenses related to travel.
• Education Fees: Receipts or invoices from educational institutions.
• Medical Bills: Invoices or receipts for medical treatment or procedures.
• Charitable Donations: Receipts or acknowledgments for charitable contributions.
• Legal Fees: Invoices from legal professionals for services rendered.
• Investment Agreements: Contracts or agreements related to investments.
• Construction or Renovation Contracts: If funds are used for building or renovating property.
• Bank Statements: Showing withdrawals or transfers corresponding to the intended purpose.
• Expense Reports: For business-related expenditures.
• Affidavits or Declarations: Sworn statements attesting to the purpose of the funds.
• Business Plans: Demonstrating use of funds for business development or expansion.
• Travel Visa Applications: Supporting documentation required for visa purposes.
• Government Approval Documents: If funds are subject to regulatory approval for specific purposes.

Relationship with the Sender

If applicable, evidence of the relationship with the sender must be provided. Acceptable forms of evidence include:

• Contractual Agreements
• Correspondence or communication evidencing the relationship

Identity of the Sender

Documentation to verify the identity of the sender is required. Acceptable forms include:

• Government-issued ID
• Passport
• Other official identification documents

Transaction Frequency

A confirmation of whether the transaction is a one-off or recurring payment might be required. If the transaction is noted/approved as a recurring payment, you would not need to go through this process again barring any flags.

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Failure to provide the required information within 72 hours of the transaction may result in the transaction being returned to the sender. A return fee of €5 for EUR transactions or $20 for USD transactions will be charged.