Proof of source of funds (POSOF) for German clients

This article is tailored to clients located in Germany. If you are not based in Germany please visit this article!

A Proof of Source of Funds (POSOF) document verifies the origin of funds used for transactions, such as bank deposits, cryptocurrency deposits, or cash withdrawals. It may also detail cryptocurrency balances held on platforms or in self custodial wallets.

We reserve the right to request a proof of source of funds for clients depositing or withdrawing cash or crypto.

Any POSOF document submitted needs to cover all deposits or withdrawals made via the relevant funding method in the last 30 days. Ensure that the POSOF documentation you provide covers any previous deposits or withdrawals within this time frame as well as the most recent one. Additionally, if applicable, a signed message from the originating crypto wallet may be required.

What amount is required for each funding level?

Clients in Germany are subject to 3 levels of deposit funding limits. These will be applied on an ongoing basis:

•
Level 1 Proof of Source of Funds <25k: Clients who deposit less than 25k
EUR equivalent in 30 days can do so without providing any additional
documentation.
•
Level 2 Proof of Source of Funds 25k-100k : Clients who deposit more than
25k EUR, equivalent in 30 days, are subject to a level 2 source of funds review.
This means you will be required to upload a document that certifies the source of funds. The document must clearly state where the source of funds is coming from.
For example, a salary statement of EUR 5k / month is sufficient. However, a bank statement with EUR 500 is not acceptable.
•
Level 3 Proof of Source of Funds >100k: Clients who deposit more than 100k
EUR equivalent in 30 days are subject to a level 3 source of funds review, where you may have to complete a short questionnaire.
The document uploaded needs to clearly state where the source
of funds is coming from.
For example, an investment or crypto account statement with a balance above EUR 100k is acceptable. A salary statement of EUR 5k / month is not acceptable.
The 30-day rolling deposit calculation includes cash and cryptocurrency deposits made during the period, with conversions based on the previous day's EUR/USD exchange rate. Note that withdrawals are excluded from this calculation and do not reduce the deposit total.

Acceptable POSOF for Individuals

Source of Funds Level 2+3 accepted documents (not older than 3 months)

•
Salary: Pay slip / wage statement or Work contract.
•
Business Income: Profit and loss statement or audited annual financial statement.
•
Personal Savings: Savings account statement.
•
Pension: Pension statement or Pension payment receipt.
•
Loan: Signed loan agreement.
•
Interest & Dividends: Interest and dividend payment receipt or Proof of investment relating to interest and dividend payments.
•
Inheritance: Inheritance contract or Inheritance payment receipt.
•
Investments: Investment account statement or Investment contract.
•
Social Welfare: Asylum Seekers' Benefits Act agreement, Job Centre agreement, State support receipt for special conditions, for example, disability Earnings according to the court order or Unemployment allowance
•
Employment Insurance: Insurance attestation/ statement from employer.
•
Gifts: Donation Agreement, Account statement or Signed agreement.
•
Gambling Income: Account statement, Payment receipt or Profit tax receipt.

Minimum required documents for Business Accounts

•
Commercial register extract (CRE)
•
Evidence of power of representation if not seen in CRE
•
Transparency register extract or equivalent document proofing the ownership
structure of the company
•
Audited financial statement
•
Status / Articles of Association
•
Passport / ID Copy of all UBOs owning 25% or more, Directors and acting persons

POSOF Document Requirements

A POSOF document needs to include the following information:

•
Name
•
Address
•
Date

As a reminder, the POSOF document (the date shown) must be less than three months old.

Proof of source of funds (POSOF) for German clients

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