After you have opened a Live account, you will be able to see all the available payment methods in the Deposit tab of your Client Portal. These payment methods require verification before you can use them.
How to verify a payment method?
Before you can access all the features in your Client Portal, you will need to fully verify your account. Here's how:
- Log in to your Client Portal.
- Click 'Complete Verification' at the top of your home area.
- Follow the on-screen instructions to finish your Economic Profile and upload your verification documents.
- Once your account is verified, you can use any available payment method for transactions.
Why do some payment methods need to be verified?
- AML Regulation Compliance: For deposits, we verify the funding source to confirm it doesn't originate from third-party entities. This is in strict adherence to the applicable Anti-Money Laundering (AML) regulations, safeguarding against any illicit financial activities.
- Withdrawal Security: Similarly, when processing withdrawals, we verify that funds are sent to bank accounts registered under the same individual's name as our customer. This step ensures the rightful recipient receives the funds.
- Name Verification: To maintain transparency and security, we cross-verify the name on the client's bank statement with the registered name on their trading accounts. This helps prevent unauthorised transactions and ensures accuracy.
- Adherence to Payment System Rules: In cases where the original payment system is no longer viable, we may request additional documents. Different payment channels have distinct rules; for example, international bank transfers may require stricter verification on the bank's side. Providing additional documents helps facilitate a successful and secure payment process.
What happens if my Vantage account and payment service are registered to different email addresses?
If your selected Electronic Payment Service (EPS) is linked to an email address that is different from your registered Vantage email, you can still utilise the EPS for your transactions.
Please note that when the email address associated with your EPS doesn't match the one registered with Vantage, the transaction might necessitate manual processing, potentially resulting in a longer processing time. If you encounter any challenges, don't hesitate to contact our Support team at firstname.lastname@example.org for guidance and assistance.