As a payment processor, Xfers is responsible and accountable for preventing monetary activities that could potentially further criminal agendas. Two concerns that we take seriously are: anti-money laundering and counter-terrorist financing (AML-CTF).
In addition, we are committed to safeguarding our users’ privacy and funds. These obligations require us to monitor two main things: (1) who transacts on our platform; and (2) the nature of the transactions taking place on our platform.
As part of ensuring that the nature of transactions taking place on our platform are legitimate, we implemented the following policy:
- Users must only use their own bank account to top-up to and withdraw from their Xfers account; and
- Users cannot fund their personal account from a corporate account (even if they are the sole shareholder of the company)
Users must prove ownership of their bank accounts by submitting their bank statement. We do not allow joint bank accounts.
These policies are placed in order to prevent money launderers or scammers from using our platform. For more information, please click here.