What is an ODD check?

From time to time, we may ask you to confirm or update your personal information. This process is called Ongoing Due Diligence (ODD) or Periodical Check. It might sound a bit technical, but it’s really just a way to make sure everything we have on file for you is still accurate and up to date.

Why it matters?

Think of it like a regular health check - but for your profile. It helps keep your account safe, protects against fraud, and ensures we meet important legal requirements. These checks also help us serve you better by making sure your details and documents are current.

When it happens?

ODD checks happen:

1. From time to time, as a part of routine updates
2. When certain changes happen (like a new address, changes in your activities or business partners)

We’ll always let you know when it’s time - we don’t spring these on you without notice.

What we might ask you?

Here are some common examples of what we may need (for individual clients):

1. Any changes to your contact details (email, phone) or your residential and registered address
2. Changes in your tax residency or Tax ID (TIN)
3. The countries you plan to send or receive payments from
4. Depending on your activity, documents that prove your income, such as invoices or pay slips.

Here are some common examples of what we may need (for business clients):

1. Details of any changes in your company’s management or directorship
2. Information on any new major partners, clients, or significant changes in your expected transaction types
3. Your company’s most recent audited financial statements (profit and loss, balance sheet)
4. Information regarding your activities from the date of onboarding or previous ODD, including agreements or invoices with your counterparties

If any of this information has changed, we’ll ask you to provide a brief description along with supporting documents (for example, a utility bill or ID copy). Please be assured that all information is handled with strict security measures and full respect for your privacy.

What happens if you don’t provide info?

If we don’t receive the requested information within 30 days of the initial request, we may have to restrict access to your wallet. Please note that if you don’t respond to any follow-up requests we send to keep your account information up to date, this could also result in restrictions. These steps are necessary to protect your account and comply with regulatory requirements.

How you’ll be notified

If an ODD check is due, you’ll get a message from us - either by email or in-app. It will clearly show what’s needed and how to upload your documents.

A quick recap

1. ODD checks help keep your account secure and compliant;
2. They’re routine and nothing to worry about;
3. We’ll guide you through each step;
4. Your info is always kept private and safe.

If you still have questions, our support team is here to help. These checks may be required - but we aim to make them smooth and stress-free for you.