At CoinField our goal is to be entirely in compliance with KYC & AML Local and International regulations.

  1. For Canadian Citizens and Residents¹we've partnered up with Equifax², which verification might return successful and the client can get instantly approved to Level 5 and start funding their accounts. However, a manual review by our Compliance team is still necessary in order to be fully approved to Level 6 - where clients can withdraw. As well, if Equifax cannot confirm the identity of the user, then one of our KYC officers will take over the file and process it manually.³ 
  2. For International Residents leaving outside of Canada, we have partnered with Trulioo for Identity verification, which our Compliance team will review the accounts/ documents and clients information before final approval.

The verification process includes verifying your e-mail address and phone number, creating a profile and uploading the required documents according to the specifications provided when signing up. All information provided will then, be checked for final approval of the account. Make sure you provide the proper and high quality documents, so your account can be approved as soon as possible. Please also check Documents required for account registration

Our Compliance department reserves the right to request any additional documents in case of any inconsistency or improper documents for verification, as well further documents in case of policy changes.

Procedures we consider for profile verification:

  1. Know your customer (KYC) refers to due diligence activities that financial institutions and other regulated companies must perform to ascertain relevant information from their clients to do business with them. The term is also used to refer to the bank regulation which governs these activities. Companies of all sizes also employ your "Know Customer" processes to ensure their proposed agents', consultants' or distributors' anti-bribery compliance. 
  2. AML Standing for "Anti-money Laundering," it is a set of procedures, laws or regulations designed to stop the practice of generating income through illegal actions. 

¹ Canadian Residents include: Canadian citizens and foreigners residents in Canada with a valid permits, Visa, Permanent Residency or Citizenship cards

² Please also check this information about "Which type of check is done with Equifax".  

³ If the instant verification from Equifax is not possible, it might be because Equifax found a discrepancy with the information provided and what they have on file for you. Other reasons can include the client refreshing or leaving the page while the verification is being processed, you don't have a credit file in Canada or it's recent, or you have answered the questions incorrectly.