What is a POR
POR (proof of residence) includes utility bills and bank statements. By requesting this we are asking for further verification of the users billing location. A POR document can include the following:
- Bank Statement
- Electric Bill
- Water Bill
- Home phone bill
- Internet bill
- Government-issued document
Basically, the POR may be a landline phone bill, internet home bill, electricity bill, water bill, gas bill, sewage and waste bill, TV cable bill, bank statement, credit card statement, or a government-issued document.
- Mobile phone bill and other bills that are not connected to the property where the service is provided are not accepted.
- We do not accept ATM receipts as these are not delivered to the address.
Why we collect POR
We ask users to provide a POR to verify that the address they registered with is indeed their current, physical address of residence. Because of this, we do not accept POR documents older than 6 months because older documents cannot guarantee that this is the user's current address.
We need to verify certain pillars of a users identity within the lifecycle of a Coinmama user. The more they buy from us the more associated risk. With this the more we need to collect from the user to fulfill our KYC requirements. This is to protect us and the user.
Information needed on a POR
- Address that matches the billing address
- Name that matches the billing name
- Logo or name of the company that issued the document
- A recent date (not more than 6 months old).
TIP: We accept POR in Russian and Arabic since we have compliance members who can clarify information on the document with a note in the ledger.
POR Document quality
- Must be from a trusted source and look authentic
- The POR should be of good quality, clearly readable and unedited;
- Can be offline or hardcopy format or an online version
- If the POR is a digital copy (online version), the user should provide the original PDF file, unedited and with all pages; screenshots are not accepted.
- For paper POR documents the user can provide only one of the pages (on the condition that the one page has all the necessary information).
- Images with no clear borders, that can be either a scan of a paper document or a screenshot is not allowed;
- The POR image should include all 4 corners of the document. However, we don't have to strictly enforce this. If the document is missing one corner or is cropped, we can still accept it. If too much of the document is cropped and all corners and borders are missing the document will be invalid.
- We do not accept a POR that has been edited where certain details are covered up. However, handwritten notations or stamps like “an amount of…paid on…” and similar notations written on a POR are accepted, for example:
POR for a POB
- Sometimes we will receive a proof of residence for a post office box address. We ordinarily cannot accept PO Box addresses. To see more please see the how to review an address guide.
- Many UAE/Saudi Arabia/Oman/Kenya users usually get their mail delivered only to a PO box.
- If a user provides a POR for a PO Box that doesn't match their billing address.
- we will first decline the user with the reason “Address on POR doesn’t match”. If the user later explains via email that they can only provide a POR for a PO Box, we then ask for a second POR for that PO Box address.
- However, if some information on the POR matches the address the user registered with (e.g. if the PO box number is written or if the ZIP code on the POR also appears in the system) we accept the POR.
TIP: When we decline a user with the reason “Address on POR doesn’t match”, and the user provides again the same document, we first check on ZenDesk if the user sent us an email with an explanation before declining him again with the same reason
Saudi Arabian POR
We accept a document called "Subscription Information" from Saudi Arabian users as a POR. Some versions of this document include the user’s name in Arabic only, for example:
POR under different name
- When a POR is under a different person's name, but the name of the user is under "attention" - we accept (the "attention" means that the document is supposed to be delivered to the designated person).
- If the name on the POR does not match at all and the user isn't listed under 'Attention' then we cannot accept this. We decline with the reason The name on the proof of residence doesn't match your own. The proof of residence must be in your name.