Do you have questions about paysafecard?
Find frequently asked questions and answers about using paysafecard here. Simply browse the different categories or use the search bar.
Why do I need to provide you with a proof of income/wealth?
paysafecard, like all financial services companies, is subject to regulations which are designed to protect our customers and our business.
We have an obligation to prove that any funds used by our customers have been acquired by legitimate means.
Therefore, we may request users to provide us with evidence to confirm the source(s) of the funds they use when they reach the specific account thresholds that trigger this requirement.
All payment service providers regulated by the Financial Conduct Authority (FCA) are required to carry out these checks.
Information you are required to send:
Documents which help us identify and support the source of the wealth for the funds you transfer using our digital payment systems.
Documents we are likely to request include:
- Proof of Income/Wealth: Payslips / Official Letter from Employer / Dividends / Pension / Invoices / Evidence of earnings / Trading profits / Winnings / Assets etc.
- Bank statement that clearly shows consistent incoming values from a verifiable source in line with the amounts used in your account.
- Other clear evidence that would support "affordability" in relation to your transacting levels with us.
What will the information be used for?
This information will be used only to confirm that the source of funds is legitimate and legally obtained.
We appreciate your co-operation in this important CBI obligation.