Account Level 1

The onboarding process consists of 2 parts: registration and verification. During registration you provide personal information like your contact information, personal and address details and information about your investment experience. Once the registration is completed, you can look around in the app but you can't use any of the services yet; those actions only become available when you've successfully completed the second part of the onboarding process, which is verification.

The first verification step is Proof of Identity, also referred to as Account Level 1.
For this step you have to provide a photo of a valid identity document, which can be:

• Passport
• Identity card
• Driver's license
• Residence permit

The document needs to be uploaded in the SwissBorg app directly. Simply go to the Profile section, tap on "Account Level" in the menu and select "Verify Photo ID" under Level 1 to begin the process.
Once you've submitted a photo of your ID, you will be asked to take a selfie* to complete the verification. This step is to confirm that the provided identity documented is indeed yours.

*In order to complete this step, you need to use a mobile phone (no tablet or iPad) that supports the motion verification software that we use. If you get an error, please make sure you have the latest version of the SwissBorg app installed and your operating system version is supported by the app (at least version 13.0 for iOS and 6.0 for Android, and the device must support Google services). If it's still not working we recommend that you use another device to complete the onboarding and then activate your recovery phrase to add your own device to your account.

Important notes:

• The photo needs to be of your original (physical) identity document; photos of a scan or digital image are not accepted;
• All information must be clear and readable;
• For identity cards and driver's licenses you will need to submit two photos: 1 of the front and one of the back of the document;

In most cases this identity verification is automated, but it can happen that the system cannot read and/or process your document. In those cases our dedicated KYC Specialists review your documents and approve them if everything is in order. If there is something wrong with your document, you will be contacted and asked to submit a new photo or document in order to proceed. 

Once your document is accepted and your identity is successfully verified, you will be notified via email and in-app notification that you're all set up and can start your SwissBorg journey! 

With Account Level 1 verified you can top up your account up to EUR 5’000, and withdrawals from your account are limited to EUR 5,000 too. This applies to both fiat and crypto transactions and considers the all-time accumulated amount, meaning that if for example you deposit EUR 2'000 to you account three months in a row, the third deposit exceeds your account limit and then you will be required to upgrade your account to Level 2. You can check out how here: Increase your limit.

Please note that in some cases, you may be required to upgrade your account level before the threshold is reached. You will always be notified when this is needed and our specialists are happy to guide you through the process.

If you require any assistance, please contact our Support Team.
Here's how: Contact Support