Account Verification

Overview of Verification Tiers

The CrossFi App offers a tiered verification system to enhance security and user experience and comply with necessary international laws and regulations. Each tier unlocks additional features and increases the user's spending limit. The three tiers are as follows:

1. Level 1 - Unverified Account: This is the initial stage for all new users, with a spending limit of $300 in value. It allows users to access basic app functionalities without detailed verification.

2. Level 2 - Verified Account: To unlock this tier, users must complete a standard Know Your Customer (KYC) process. This level increases the spending limit to $10,000 and unlocks additional app features.

3. Level 3 - AML Verification: This is the highest verification level, designed for users needing unrestricted account access. It involves a thorough Anti-Money Laundering (AML) check, including proof of funds and potentially a video conference verification step. For users who have completed Level 3 Verification, there is no limit on spending/card use.

Graphic: A tiered diagram or infographic showing the three levels of verification, each with a brief description and the corresponding spending limit. Note: Double check limits with the wider team.