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Frequently Asked Questions about the Guarantor's Requirements to WME Purse Owners (Natural Persons)
The article is out of dateThe article is out of date1. Do these requirements apply to EU citizens only or to all owners of WME purses?
- The requirements are applicable to all WME purse owners regardless of their citizenship and country of residence.
2. Will the information about my electronic wallet be transferred to the relevant tax office?
- No. Nobel Financial Limited is registered in Malta and authorised on the issue of electronic money by the Malta Financial Services Authority. Currently, the financial institutions authorised on the issue of electronic money are exempt from the FATCA и CRS reporting.
3. If I have reached a limit of 2,500 WME (starting from 17.06.2021 – limit of 1,000 WME) and I already have a Personal WebMoney passport meaning that my citizen passport and my postal address have been verified, do I need to upload my passport again?
- You will only need to upload your identification documents again if your previously uploaded identification document is currently expired. Please also make sure that uploaded documents meet the updated WME Guarantor requirements effective from 17.06.2021.
4. When I have reached a limit of 15,000 WME which document may be accepted as proof of a source of funds if, for example, I earn on bets in a betting shop and sometimes this amount is turned over in a week. If I reach the limit for more than once in a calendar year, will I have to resend the confirmation document?
- If your income is generated by the wins from betting, you need to provide a statement from your account in a betting shop. The statement must clearly show the winning bets and fund deposits into your betting account.
- If you received an income via cooperation with a betting shop, for example, you work as the shop`s agent, you need to provide:
a) If you have your own agent account with the shop, you need to provide a statement showing your income from these activities
or
b) A bank statement showing incoming transactions from the named betting shop which are indicated as “the agent`s commission".
All statements must be provided for the last 3 months.
If not all of the requested information was clearly stated in the provided statements, we reserve the right to request a confirmation of your business relationship with a betting shop, for example, we may request a copy of your contract with a betting shop.
5. Do I need to provide my identification documents such as my citizen passport and a proof of address if I hold a WebMoney Personal Passport or WebMoney Formal Passport with verified personal details and the named documents have already been uploaded to WM-passport and verified?
- If your documents have been previously verified by the WebMoney Verification Centre, you will only be required to re-upload your documents when your current identification document is expired. Please also make sure that uploaded documents meet the updated WME Guarantor requirements effective from 17.06.2021.
6. Please, explain in detail the requirements to bank statements and other documents confirming the source of funds when the total of the incoming transactions to WME purses belonging to the same WebMoney Passport exceeded 15,000 WME in a calendar year?
- You need to provide scanned copies of your bank statements for the last three months which clearly state the amount and the source of income.
- Other documents confirming the source of income should also be provided as scanned copies. The document which should be no older than three months should state the full name of the funds' recipient, the amount and the source of income.
7. Which types of transactions are considered as incoming transactions to WME purses?
- Incoming transactions to WME purses are considered to be all funds received to WME purses belonging to the same WebMoney Passport which include transactions and transfers from users of the system and fund deposits made to your purses.
8. If I have funds in Euro which were acquired as a result of the exchange of Dollars for Euro at http://wm.exchanger.ru/, can it be considered as a source of funds? The funds in Dollars (WMZ) were generated from advertising orders receive from a few different websites (all trading operations are conducted unofficially without firms), will it contribute to exceeding the limit for WME purse?
- This type of business activity is considered as the provision of freelance services (self-employment). Please provide a brief description of your business model when uploading the document.
9. When do I need to provide a document confirming the source of income (on which date) if the total amount of the incoming transactions exceeded 15,000 Euro?
- The required documents should be provided within 30 days from the day you receive a notification that the limit on deposits to your WME purses has been exceeded. If the required documents will not be provided within the specified period, your rights on depositing/withdrawing funds may be restricted in accordance with the existing rules of the system.
10. If, for example, the same WebMoney Passport has a few WMIDs with a WME purse registered under each of the WMIDs, and the incoming transactions on each of the WME purses exceed 15,000 Euro per a calendar year, which documents should I upload?
- The total income amount is considered as the summary of all incoming transactions to all WMIDs and purses belonging to the same WebMoney Passport. The documents should be provided in relation to your WebMoney Passport regardless of WMIDs.
11. I have WME purse. What exactly changes starting from 17.06.2021 and what should I do?
-As of 17-06-2021, you will need to provide ID and Proof of Address if the total amount of incoming transactions to all your WME purses exceeds 1000 WME within one calendar year.
For Identification you will need to provide a scan of your Passport or ID card AND go through a PhotoID or VideoID procedure.
For Proof of Address you will need to provide TWO (2) proofs of address from the list of accepted documents (for example, Utility Bill and Bank Statement dated within the last 6 months).
If your residence address is listed on a government issued document (Passport, ID Card, Driving License and Residence Permit) you can provide a scan of this document and go through address photo or video verification procedure with it. A second proof of address will not be required in this case.
Please make sure that scanned copies or photocopies of the required documents have been uploaded to the WebMoney Passport website and verified.
Please contact us at support@webmoney.eu if you need any assistance or have any questions regarding the updated requirements.
12. I hold a WebMoney Passport with verified personal details and have already uploaded and verified my passport and proof of address document. Do I need to take any actions to comply with updated WME requirements effective from 17.06.2021?
- Yes. Starting from 17-06-2021 you will need to provide a scan of your Passport or ID card AND go through a PhotoID or VideoID procedure. If your identification document has already been verified, please proceed with PhotoID or VideoID verification (if this has not been done yet).
Also for Proof of Address you will need to provide TWO (2) proofs of address from the list of accepted documents (for example, Utility Bill and Bank Statement) both dated within the last 6 months. If you currently have only one document verified as a proof of address (document dated after 17.12.2020), you will need to provide the second one.
If your residence address is listed on a government issued document (Passport, ID Card, Driving License and Residence Permit) you can provide a scan of this document and go through address photo or video verification procedure with it. A second proof of address will not be required in this case.
1. Do these requirements apply to EU citizens only or to all owners of WME purses?
- The requirements are applicable to all WME purse owners regardless of their citizenship and country of residence.
2. Will the information about my electronic wallet be transferred to the relevant tax office?
- No. Nobel Financial Limited is registered in Malta and authorised on the issue of electronic money by the Malta Financial Services Authority. Currently, the financial institutions authorised on the issue of electronic money are exempt from the FATCA и CRS reporting.
3. If I have reached a limit of 2,500 WME (starting from 17.06.2021 – limit of 1,000 WME) and I already have a Personal WebMoney passport meaning that my citizen passport and my postal address have been verified, do I need to upload my passport again?
- You will only need to upload your identification documents again if your previously uploaded identification document is currently expired. Please also make sure that uploaded documents meet the updated WME Guarantor requirements effective from 17.06.2021.
4. When I have reached a limit of 15,000 WME which document may be accepted as proof of a source of funds if, for example, I earn on bets in a betting shop and sometimes this amount is turned over in a week. If I reach the limit for more than once in a calendar year, will I have to resend the confirmation document?
- If your income is generated by the wins from betting, you need to provide a statement from your account in a betting shop. The statement must clearly show the winning bets and fund deposits into your betting account.
- If you received an income via cooperation with a betting shop, for example, you work as the shop`s agent, you need to provide:
a) If you have your own agent account with the shop, you need to provide a statement showing your income from these activities
or
b) A bank statement showing incoming transactions from the named betting shop which are indicated as “the agent`s commission".
All statements must be provided for the last 3 months.
If not all of the requested information was clearly stated in the provided statements, we reserve the right to request a confirmation of your business relationship with a betting shop, for example, we may request a copy of your contract with a betting shop.
5. Do I need to provide my identification documents such as my citizen passport and a proof of address if I hold a WebMoney Personal Passport or WebMoney Formal Passport with verified personal details and the named documents have already been uploaded to WM-passport and verified?
- If your documents have been previously verified by the WebMoney Verification Centre, you will only be required to re-upload your documents when your current identification document is expired. Please also make sure that uploaded documents meet the updated WME Guarantor requirements effective from 17.06.2021.
6. Please, explain in detail the requirements to bank statements and other documents confirming the source of funds when the total of the incoming transactions to WME purses belonging to the same WebMoney Passport exceeded 15,000 WME in a calendar year?
- You need to provide scanned copies of your bank statements for the last three months which clearly state the amount and the source of income.
- Other documents confirming the source of income should also be provided as scanned copies. The document which should be no older than three months should state the full name of the funds' recipient, the amount and the source of income.
7. Which types of transactions are considered as incoming transactions to WME purses?
- Incoming transactions to WME purses are considered to be all funds received to WME purses belonging to the same WebMoney Passport which include transactions and transfers from users of the system and fund deposits made to your purses.
8. If I have funds in Euro which were acquired as a result of the exchange of Dollars for Euro at http://wm.exchanger.ru/, can it be considered as a source of funds? The funds in Dollars (WMZ) were generated from advertising orders receive from a few different websites (all trading operations are conducted unofficially without firms), will it contribute to exceeding the limit for WME purse?
- This type of business activity is considered as the provision of freelance services (self-employment). Please provide a brief description of your business model when uploading the document.
9. When do I need to provide a document confirming the source of income (on which date) if the total amount of the incoming transactions exceeded 15,000 Euro?
- The required documents should be provided within 30 days from the day you receive a notification that the limit on deposits to your WME purses has been exceeded. If the required documents will not be provided within the specified period, your rights on depositing/withdrawing funds may be restricted in accordance with the existing rules of the system.
10. If, for example, the same WebMoney Passport has a few WMIDs with a WME purse registered under each of the WMIDs, and the incoming transactions on each of the WME purses exceed 15,000 Euro per a calendar year, which documents should I upload?
- The total income amount is considered as the summary of all incoming transactions to all WMIDs and purses belonging to the same WebMoney Passport. The documents should be provided in relation to your WebMoney Passport regardless of WMIDs.
11. I have WME purse. What exactly changes starting from 17.06.2021 and what should I do?
-As of 17-06-2021, you will need to provide ID and Proof of Address if the total amount of incoming transactions to all your WME purses exceeds 1000 WME within one calendar year.
For Identification you will need to provide a scan of your Passport or ID card AND go through a PhotoID or VideoID procedure.
For Proof of Address you will need to provide TWO (2) proofs of address from the list of accepted documents (for example, Utility Bill and Bank Statement dated within the last 6 months).
If your residence address is listed on a government issued document (Passport, ID Card, Driving License and Residence Permit) you can provide a scan of this document and go through address photo or video verification procedure with it. A second proof of address will not be required in this case.
Please make sure that scanned copies or photocopies of the required documents have been uploaded to the WebMoney Passport website and verified.
Please contact us at support@webmoney.eu if you need any assistance or have any questions regarding the updated requirements.
12. I hold a WebMoney Passport with verified personal details and have already uploaded and verified my passport and proof of address document. Do I need to take any actions to comply with updated WME requirements effective from 17.06.2021?
- Yes. Starting from 17-06-2021 you will need to provide a scan of your Passport or ID card AND go through a PhotoID or VideoID procedure. If your identification document has already been verified, please proceed with PhotoID or VideoID verification (if this has not been done yet).
Also for Proof of Address you will need to provide TWO (2) proofs of address from the list of accepted documents (for example, Utility Bill and Bank Statement) both dated within the last 6 months. If you currently have only one document verified as a proof of address (document dated after 17.12.2020), you will need to provide the second one.
If your residence address is listed on a government issued document (Passport, ID Card, Driving License and Residence Permit) you can provide a scan of this document and go through address photo or video verification procedure with it. A second proof of address will not be required in this case.