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To ensure Instabridge is compliant with regulatory requirements, there are 4 different AML (Anti-money laundering) tiers for users. The higher your AML tier the higher your approved transaction volume in Instabridge. You can increase your approved tier of AML through Instapass by providing Instapass with more information on the source of your funds, helping us prevent money laundering. All users must start at Tier 1. In order to transact at a higher tier you will need to apply to upgrade by clicking the Upgrade button.
Tier 2: This tier allows up to $100,000 value of transactions per year and will require you to select your source of funds from a drop down list and provide documentary evidence supporting your source of funds.
The documents which are accepted as evidence of source of funds varies on a case by case basis, the table below provides a rough guide on the type of evidence that is expected. Legal documents are the most commonly accepted documents. Please note that the whole document must be provided to be accepted, redactions will not be accepted.
You will then be asked about your current employment status. If you are employed, you will need to enter your occupation; if you are a student you will need to state what institution you are attending; if you are retired, you will need to provide the name of your last employer.
Finally you will be asked to select your source of wealth from a drop down list. Your source of wealth may be the same or different to your source of funds. The source of funds is defined as the activity which generated the funds you used to purchase tokens. Source of wealth is defined as the origin of your entire body of wealth.
You will need to upgrade your AML tier before creating a transfer which exceeds your current tier limit.
Please be aware that reviewing source of funds documentation may take several working days.
If you wish to transfer more than $100,000 worth of tokens per year, you will need to upgrade to AML Tier 3 or 4.
If further information is required to support your application, you will be emailed by support@instapass.io.
