Once you've verified your SwissBorg account for Level 1 (Proof of Identity), you can choose to upgrade to Account Level 2 (Proof of Residence) immediately or wait until it becomes necessary.
Why Upgrade to Account Level 2?
You can upgrade to Account Level 2 (Proof of Residence) at any time. However, once your total deposits or withdrawals accumulate over EUR 5,000 or equivalent, this upgrade becomes mandatory to comply with all the applicable regulations and keep your funds safe.
In some cases, our KYC Team may request an upgrade sooner to ensure compliance and security.
How to upgrade to Account Level 2
- Open the app and go to the Profile section.
- Tap on "Account Level" in the menu.
- Scroll to “Level 2” and tap on “Verify.”
Accepted Proof or Residence Documents
To verify your residence, you need a document issued in your name within the last 90 days. The following documents are accepted:
- Bank statement (personal accounts only) Please note that we DO NOT accept statements from these sources: Revolut, MoneyLion, transfers from Paypal, Moneygram and Nickel.
- Utility bill (gas, electricity, water, or internet)
- Credit card statement
- Official letter from a government authority
- Lease/rental contract + rent receipt
- Employer’s certificate confirming your residence
⚠️ Please note: Mobile phone bills are not accepted as valid proof of residence.
💡 Need to submit more documents? Use the "Add additional documents" button in the Account Level screen.
What if the Documents Are Not in Your Name?
If you're living with family or have just moved, contact our Support Team via the app or at support@swissborg.com. Our KYC specialists will guide you through alternative verification options.
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