Yes, it is.
In order to be able to fund you account, you must have at least level 5, as in order to withdrawal, you must be fully approved as level 6.¹
The verification process is done as below for each type of clients:
- For Canadian Residents¹, Equifax² verification might return successful, in which 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
- For International Residents, we partnered with Trulioo for verification, which our Compliance team will, in this case, manually review the account before any approval.
We are currently offering the service in many different countries worldwide.
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. While registering on the website, 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
¹ Canadian Residents include: Canadian citizens and foreigners residents in Canada with a valid permits, Visa, Permanent Residency or Citizenship cards
² Please login to your Coinfield account and access your setting from your Dashboard page. In your settings, choose Document Center and select "Upload Document".
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.