Individual Onboarding

1Money verifies every individual customer before they can deposit, withdraw, or transfer funds. All customers complete standard onboarding. Customers who are classified as high risk, or who need limits above the standard thresholds, also complete enhanced onboarding.

Standard Individual Onboarding Requirements

1Money requires the following information from all individual customers:

• First and last name
• Email address
• Date of birth
• Nationality
• Street address
• City
• Postal code
• Province / State
• Country of residence
• Social Security Number (required only for USA residents)
• National identity number of Foreign TIN (required for non-USA residents)
• ID verification
  • One government-issued photo ID: passport, national identity card, residence permit, or driver's license
  • Front and back images are required, except for passports (front only)
• Selfie (face match against the ID document)
• Proof of address (bank statement, utility bill, government correspondence, lease, municipal tax bill, or insurance document showing name and the current residential address, issued within the last 90 days.)

The first name, last name, and nationality on the ID document must match the details submitted by the customer. A mismatch will send the application for manual review.

Customers who complete standard onboarding can withdraw up to $15,000 per day and up to $100,000 per rolling 30-day period. Once either threshold is exceeded, enhanced onboarding is required before further withdrawals can be processed.

Enhanced Individual Onboarding Requirements

For high-risk customers and customers requesting limit increases, 1Money collects additional information about the customer's source of funds, source of wealth, and expected use of the account.

Enhanced onboarding applies when any of the following is true:

• The customer withdraws more than $15,000 in a day, or more than $100,000 in a rolling 30-day period
• The customer is a resident or national of a high-risk jurisdiction
• The customer is older than 55 years
• The customer is a politically exposed person (PEP)
• The customer is the subject of adverse media

In addition to all standard requirements, 1Money collects:

• Occupation
• Employment status
• Source of funds/ Source of wealth
• Primary purpose of the account
• Expected monthly amounts to be sent or received
• Supporting source of funds and source of wealth documents, such as bank statements, pay slips, or tax returns

In rare cases, 1Money may request additional information during the onboarding process.