Article 1: General

SuriPay aims to comply and apply all applicable local (part of international standard business as usual) law and regulations to ensure that our services meet the highest standards.

Regulations on financial services require SuriPay to take measures against abuse. This regulation always has two sides. On the one hand, protecting customers and on the other hand, preventing financial violations (such as fraud and money laundering) through our services. In order to use our services, the customer must verify his/her identity at all times. The KYC policy consists of an extensive account verification process and a cooling down period for large transactions.

Article 2: Account Verification

A service provider such as SuriPay must comply with the know your customer regulations.

Step 1: Identity verification

As a new customer, you must verify your account before we can use our services. This process is a one-time process and it takes only a few minutes. Through our contracted third-party service, you can easily go through the identity verification process, including AML/sanction watchlists and adverse media checks, and upload a valid ID card.

Step 2: Bank verification

After your identity verification (step 1), you can immediately verify your bank account and enable fiat deposits into your SuriPay account.
   With a bank account verification, we want to prevent any abuse of our services. We take and will take all measures in the future to prevent fraud and abuse. Unfortunately, this market is attractive to cybercriminals, and they are very creative in providing unsuspecting innocent people with their bank account information (phishing), inform people or hack their computer and rob bank accounts.

Step 3: Residence verification

After the bank verification (Step 2), you can verify your residence by providing proof of your address.

Article 3: Cooling down

When you initiate a large transaction, a certain cooling down period applies.

What does this period mean?

It means we hold the transaction for a certain period of time and make sure no misuse of our services has taken place. This period depends on the size of the transaction. In light of fraud, the bank or payment provider will be given the opportunity to detect any fraud and report to us. Almost all transactions are performed automatically. This also means that almost all transactions are through automated fraud detection. Some are suspiciously marked because of their specific feature. This transaction is executed manually after some control elements, or in case of fraud, appropriate measures will be taken.