Here we go again…
Having just passed the verification process (once again) yesterday, the app is now asking me to provide SOF Verification.
I’m slightly irritated and confused by what exactly it is asking for and why? I have none of the required options: these either do not exist in my country of residence (France) or are not relevant to my situation (self employed, semi retired, auto entrepreneur on low income). I have refrained from really funding the Wirex account over fears about not being able to access my funds (due to previous prolonged lockouts) and therefore the source of funds question is a little bizarre anyway: I have not funded the account more than a few hundred euros and you know the source of funds as each time it came from one of my bank accounts, for which you have the audit trail. Each of those accounts are regulated and compliant with the various banking regulations and generally have much simpler methods/requirement of ”auditing” my accounts for their own compliance purposes.
So, I assume, you are trying (badly) to automate your compliance and are therefore ultimately failing in your requisite undertakings of “KYC” etc, or you are misunderstanding your requirements and where they need to be applied - no regulator cares about the source of a couple hundred Euros transacted to pay a regular Netflix bill or occasional Amazon purchase of toiletries.
So, please, either find a better, more appropriate and simper way to deal with YOUR compliance issues, or refund all of the fees, charges and commissions you have taken from me to date, allow me to transfer the small balance of my account to a bank account, refund my investment in your company and having followed the previous actions: close my account.
So in summary, I do not have:
Payslip or Bonus Payment - I am self employed and my only bonus is the occasional day off
Salary Letter from Employer - See above (unless you would like me to create a letter to myself?)
Latest Audited Accounts - I am not a millon dollar multinational requiring Audited Accounts (You realise the size/turnover of a business to require audited accounts? You also realise the irrelevance of this to a personal account such as the one I hold with Wirex?)
Company Bank Statement - again, I’m not a company, have no company account and this is anyway irrelevant to any of my personal money being held/transacted.
@Ali_Wirex I don’t understand why I (we) don’t have this issue with any other bank or financial company I use? Why is Wirex interpreting its regulatory compliance in a completely different way to literally everyone else in FINTEC or even finance? From my “online” banks I get (perhaps annually) a popup asking me to confirm my address and tax domicile hasn’t changed - I am never locked out of my account or have limits imposed. Regarding my “old fashioned” banks, I have never been asked for any “update” since account opening - in some cases decades ago!
btw good idea, if they finally unblock account, need to request partial refund for weeks/months when it wasn’t possible to use Wirex paid features 