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What are the verification level requirements?

Once you’ve completed your registration with OKTO, we are asking you to verify your account for compliance purposes, as we take every measure to prevent fraud and be fully compliant with KYC and AML regulations. You can continue your onboarding process immediately after your registration or any time after that. There are 4 different account levels (Basic, Standard, Premium and Platinum), each one unlocks specific features and functionalities. For upgrading your account’s level, it is required the submission of additional information and documents.

Level 0 (Basic) simply requires the completion of your OKTO account registration, following the successful OTP authentication of your registered mobile phone and email.

Level 1 (Standard) requires simply the submission of a valid government-issued ID/ Passport (or driving license for UK citizens) and a clear selfie to verify your ID.

Level 2 (Premium) requires proof of address and the submission of Questionnaire A (occupation status, account purpose, etc). The accepted proof of address documents are utility bill (electricity, gas, water), telecom bill for landline or satellite tv, bank account statement, tax assessment. The proof of address documents should not be older than 3 months.

Level 3 (Platinum), requires proof of wealth and funds documents to show that your income comes from a legitimate source such as an official letter from employer, recent pay slip, loan from the bank, evidence of earnings, bank statement, enquiry of the source of wealth and so on, as well as the submission of Questionnaire B (annual income, size of wealth, etc).

For more information about verification levels, requirements and account’s limits you can check the link below: http://www.oktowallet.eu/levels-and-limits-consumer/

You can continue your verification process immediately after your registration or any time after that. The same applies to any account upgrading as well.

* After 30 days without submitting the required documentation to verify your identity your Basic OKTO account automatically changes to View Only Mode.. In View Only Mode, users are only allowed to view and navigate through the wallet’s functionalities as well as submit their verification documents for upgrading to the Standard OKTO account.

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