Wirex Help Centre
What is Source of Funds/Source of Wealth and how to submit them

What is Source of Funds/Source of Wealth? 

Wirex Pte.Ltd (Wirex) is required by law to comply with strict anti-money laundering and terrorist financing regulations. 

What is “Source of Funds”?

Source of Funds (“SOF”) refers to the origin of the funds that are deposited into your Wirex account. To establish the source of funds, Wirex will ask you for information and proof of the activity which generated the funds that were deposited into your account (i.e., salary payments, proceeds of a sale) and for details on the account used to transfer those funds into your Wirex account.  

Wirex may request information on your source of funds to ensure that the funds deposited into your account comes from legitimate and traceable sources.    

Some examples of acceptable Source of Funds documentations include:

 Crypto assets purchased on other crypto exchanges/brokers   

  • Transaction report or screenshots reflecting your transaction history and displaying your wallet address; Confirmation emails which provide proof of purchase and withdrawal; OR   

  • Copies of physical receipts which provide proof of purchase; 

Trading profits from exchanges/brokers   

  • Transaction statement displaying your account details, profits as well as withdrawal history. 

Income from services (e.g., affiliate marketing, promotions, or other services)   

  • A copy of the agreement for services rendered including the details of the service, the recipient of the service, as well as the billing amount and currency;  

  • Screenshots of the payments made which correspond with the amounts paid to you; and 

  • Screenshots of the transfer of funds from your wallet into the Wirex wallet.  

 Initial Coin Offering (“ICO”) and token sales   

  • Transaction statement reflecting the purchase of the token through the ICO/ token sales platform;   

  • If the purchase was made using fiat currency, a copy of your bank/credit card statement reflecting the purchase;  

  • Screenshots reflecting the deposit of the ICO proceeds into your wallet (including your wallet details);   

  • Screenshots of any exchanges or transfers of the tokens before deposit into the Wirex wallet;  

  • Screenshots of the transfer transaction between your wallet and the Wirex wallet. 

Mining

  • Screenshots of mining revenues and rewards; OR   

  • Screenshots displaying the transaction history from and to wallets, which display wallet addresses and transaction IDs (self-made “Excel lists” are not accepted).   

Staking (Master Nods)   

  • Screenshots of the transaction history on which deposits, withdrawals, and profits are visible; AND Screenshots of the transaction history on which withdrawals are visible; AND   

  • Wallet addresses and transaction IDs.   

Airdrops

  • Screenshots of the transaction history on which deposits, withdrawals and are visible; AND  

  • Wallet addresses and transaction IDs.   

Coin or token swaps

  • Screenshots of the transaction history (wallet addresses and transaction IDs)   

Lending and liquidity pools

  • Screenshots of the transaction history (wallet addresses and transaction IDs). Please clarify where you have deposited the assets as collateral, as well as in what amount and where the collateral that is being used has come from.   

What is “Source of Wealth”? 

Source of Wealth (“SOW”) describes how a User acquired their total wealth. This is different from SOF as SOF is for the identification of the exact funds which have been deposited into your Wirex account, while SOW refers to the source of your net worth, which includes all investments, income, and assets.  

Some examples of acceptable Source of Wealth documentations include:  
 

  • Salary: A recent payslip from your employer (and/or a tax statement) AND a bank statement showing your recent account balances. Your name, date, and amounts should be clearly visible.  

  • Sale of property: A copy of the contract of sale AND a bank statement that displays the proceeds of the sale being deposited. Your name should be clearly visible on both documents along with amounts and dates.  

  • Savings: A bank statement reflecting your account balances for the period requested. The statement period should cover at least three months. Your name, dates, and amounts should be clearly visible.  

  • Loan: A copy of the loan agreement indicating your details and the amount borrowed AND a bank statement that displays the loan being deposited. Your name should be clearly visible on the documents along with amounts and dates.  

  • Inheritance: A copy of a testament (or a letter from the executor of the will or lawyer) AND a bank statement that displays the proceeds of the sale being deposited. Your name should be clearly visible on all documents along with amounts and dates.  

  • Gift or donation: An affidavit/letter from the donor explaining the nature of the gift along AND a bank statement reflecting the deposit is acceptable. Your name should be clearly visible on all documents along with amounts and dates.  

  • Pension fund: An official transaction statement from the pension fund AND a bank statement that displays the pension being deposited. Your name should be clearly visible on the documents along with amounts and dates.  

  • Tax refund: A copy of the tax statement/receipt that reflects the tax refund (should be no older than 12 months) AND a bank statement that displays the funds being deposited to your account. Your name should be clearly visible on the documents along with amounts and dates.  

  • Other: Any other official documentation evidencing your source of wealth and funds. Your name should be clearly visible on the documents along with amounts and dates. The amounts in question should support your financial activity with Wirex. 

Note that the lists above are not exhaustive and from time to time, Wirex may reach out to you for specific documentation, clarification or additional information relating to your source of wealth and source of funds. 

All provided documentation should comply with the following requirements:

  • Must be in one of the following formats - .pdf, .png, .jpg, .jpeg   

  • Should be visible in full, with all four corners captured (in case it’s a photo/scan)   

  • Users name, date of the statement, and dates of transactions should be clearly visible   

  • All transaction details should be clear and legible   

  • While you may cover sensitive information*, we need to clearly see the inbound transactions (your income) as well as the outbound transactions.  

  • Bank statements/payslips/other documents must be relevant to the time period in question and should also reflect your most recent balances. 
     

*Do note that we will accept documents where sensitive information is redacted/deleted from the document, for example - social security numbers, credit card information, confidential terms and conditions, and/or information unrelated to the request. However, Wirex reserves the right to reject any documentation which it suspects has been tampered, modified, forged, or falsified to fulfil our request.   


How to submit your Source of Funds (SOF) and Source of Wealth (SOW)? 


Please note that we will NEVER contact you by phone. All email communications will only be from a @mail.wirexapp.com or @wirexapp.com email address. We will also never contact you regarding such requests over social media. 

  1. When it is time to verify/re-verify your SOF/SOW, you'll receive an email with a source of funds/source of wealth form attached. 
  2. Prepare the supporting documentation of your source of funds/wealth (according to this page/ the relevant form provided).  
  3. Reply directly to the email request we sent you with the requested documents attached to your reply.  
  4. Our team will review the submitted documents, and reach out if any additional information, clarification or documentation is required.  
  5. Once everything is in order, your access to your account will be granted/restored and you may resume your normal activity on the Wirex platform.   

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