We require all Xago customers to comply with FICA in order for us to maintain strict Know Your Customer (KYC) and Anti-Money Laundering (AML) standards. The process is different for individuals and businesses. We use a third-party service provider named DocFox to ensure that we comply with FICA through automatic sanctions screening and risk rating. Upon signing up for a Xago account you are able to immediately store, send and receive XRP. In order for you to buy and sell XRP, withdraw or deposit ZAR and send ZAR you will need to be fully verified. This process can take up to 2 business days if all documentation is supplied and correct.
We support individuals and business accounts. The process for verification is different for each type of account. There are two levels of verification, unverified and verified. If you are unverified you will be unable to buy and sell XRP and withdraw and deposit ZAR. You will only be able to store XRP in your wallet and send and receive XRP.
Below is the process for personal/individual and company accounts:
A. Personal or individual accounts:
In order to verify yourself you need to provide the following two documents:
1. Proof of identity:
We accept any of the following government issued documents:
- National identity card/book
- Valid South African passport
2. Proof of residential address:
We accept any of the following documents issued in the last 3 months and in the following format: JPG, JPEG, PNG, and PDF
- Utility bill Examples include: electricity, rates, taxes, and water accounts
- Bank statement
- Levy statement or other body corporate correspondence
B. Business accounts:
In order to verify your company/organisation you need to provide the following documents:
- Listed company
- Close corporation
In order to verify yourself you need to follow the process on DocFox.