Why We Ask for Documents And Why This Protects You
Understanding Compliance Standards
Document requests follow international banking standards that exist to prevent money laundering, terrorism financing, and fraud.
Regulatory Rules That Every Financial Institution Must Follow:
Every financial institution must follow two core standards:
- KYC (Know Your Customer): Verify who you are
- AML (Anti-Money Laundering): Prevent financial crime
Traditional banks follow the same standards. nsave abides by all mandatory regulations which are designed to reduce the risk of fraud and financial crime.
What We Verify and Why
Your Identity (Government ID)
- Confirms you are who you claim to be
- Prevents account fraud and impersonation
- Verified directly against the issuing authority's database
Your Address (Proof of Address)
- Establishes your residential location for regulatory purposes
- Reduces fraud risk
- Usually requires a recent document (utility bill, lease, government correspondence)
Source of Wealth (When Required)
- Shows where your income originates
- Confirms funds come from legitimate sources
Critical distinction: We evaluate your account based on your income sources and transaction patterns, not your nationality or location.
Eligible Income Sources
Your account can support:
- 💼 Employment income (salaried positions)
- 💻 Freelance income (Upwork, Fiverr, direct clients)
- 🏢 Business income (self-employed, proprietorships)
- 📈 Investment returns
- 🏠 Inheritance
- 💰 Personal savings
Unfortunately, we do not support using nsave for trading (including peer-to-peer).
What we need: Documentation showing where your money comes from. For example:
- Freelancer? → Show invoices and client contracts
- Salaried? → Show recent payslips or employment letter
- Business owner? → Show business registration and recent income
Transparency About Thresholds
nsave has no hidden transaction limits based on geography. Your location in Bangladesh, Pakistan, Nigeria, or Egypt doesn't trigger automatic restrictions. However, in line with global standards, proof of income can be requested in line with our regulatory obligations.
Disclaimer:
The information provided in this content is for informational and educational purposes only and should not be construed as financial advice. Before making any financial decisions, it is highly recommended that you seek advice from a qualified financial advisor who can consider your individual financial circumstances and objectives.
