KYC Policy

When a user makes 3 successful deposit transactions or an aggregate lifetime total of deposits exceeding USD 2000 or requests a withdrawal of any amount at Betwhale, they are obliged to undergo a full KYC procedure, wherein the user shall submit some basic details about themselves and then upload the files listed below:

• A copy of Government Issued Photo ID (in some cases front and back depending on the doc)
• A selfie of themselves holding the ID document

Additionally, in order to enable withdrawals from the user's account, they must also submit the following:

• Photo of the credit/debit card(s) used for depositing, in color. We only need the 6 first and the 4 last digits of the credit card number
• BankWire information (bank account information to process wire transfers).

The KYC Team undertakes to contemplate the documents within 3 business days and email the user about the verification outcome, unless some of the required documentation is missing or submitted documentation isn’t correct or in a bad quality – in this case our KYC team will request the corrected documentation over email and process it within 3 business days after receiving.

Proof of ID

• Signature Is there
• You are not a resident of one of the following countries: Georgia, Israel, Netherlands, Russia, Ukraine, United Kingdom, Louisiana (USA), Michigan (USA), Mississippi (USA), Tennessee (USA), Minnesota (USA).
• Full Name matches client's name
• Document does not expire in the next 2 months
• Owner is over 18 years of age

Selfie with ID

• Holder is the same as in the ID document above
• ID document is the same as in “1”. Make sure photo/ID number is the same

Credit/debit card(s)

• Photo of Credit/debit card needs to be in color, not cropped or blurred
• We need to see only first 6 and last 4 digits of the card number, cardholder’s name and expiry date – the rest of the information of the credit/debit card should be hidden

BankWire information

Customer needs to provide a screenshot or typed information with the following bank account items:

• Bank name
• Bank address
• Account holder’s name
• Bank account number
• Type of account
• ABA routing number
• ACH routing number
• SWIFT/BIC code (if available)

• When the KYC process is unsuccessful, the reason is documented and a support report is created in the system. The report number along with an explanation is communicated back to the user.
• Once all proper documents are in our possession, the account gets approved.

• If a user does not provide the aforementioned documents upon request, restrictions shall be applied to their account.
• If a user has passed the KYC process successfully the following rules apply:
• There is a deposit limit per transaction (max USD 1000)
• Prior to any withdrawal there is a detailed algorithmic and manual check on the activity and balance of the user to see if the amount withdrawn is a result of proper activity in the platform.
• Under no circumstances may a user transfer funds directly to another user.