KYC Policy

When a user makes 5 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)

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

• Proof of address issued within the last 3 months
• 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

Proof of address

• The address listed on the document matches the address on the account
• The full address, name, and document issue date are clearly visible
• The document issued within the last 3 months
• Do not open or save it with PDF editing software, as this will likely lead to automatic rejection

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.