Rules for Fiat to Crypto transactions

Following European AML regulations and the AMD 5 Directive, from 29/12/2022, Nebeus introduces new rules for express transactions made between Money Accounts to Crypto Accounts.
Funds received from third parties to IBAN and Sort code Accounts will pass additional AML control.
As a result, withdrawals will be limited until the end of the review process.
Please find below the approximate duration of the AML review process:

New Accounts

Compliance check term
Funds received from Third parties on IBAN and Sort code accounts.
up to 5 business days
From the Owner's account in another bank on IBAN and Sort code accounts.
Top up account with bank card ( Visa, Mastercard )
up to 5 business days
What can be done to ensure that your payment is processed quickly?
Deposits, even from third party are automatically processed. However, certain third party payments, particularly on recently created accounts, may pose a higher risk. If you decide to withdraw these funds, whether you do it by topping up your card, wire transfer or crypto withdraw to another CeFI or DeFi wallet, we will analyse the risk of the transaction and in some higher risk cases, we will require to know why you received the funds from this third party and a document that proves this explanation (such as purchase agreement, invoice, loan agreement, marriage certificate, quotes, etc.)
Only if you cannot provide supporting documents on higher risk cases, we may hold the withdraw for security reasons for a period.
Alternatively, if you have deposited third-party payments, you can proactively contact us with proof of funds, and we will be able to approve the withdrawal immediately.

All Accounts

What if you deposit funds to your account from your own banking accounts?
Among other factors, the amounts deposited on your account is considered by Nebeus for its AML risk rating. If it deems that you pose a higher risk we might require a source of funds (job contract, salary, tax return, financial accounts, etc.)
What if I top-up my account with card or Apple pay?
Our compliance team ensures the security and authenticity of card transactions. If certain out-of-the-ordinary circumstances apply, we may require evidence that you are the cardholder (such as a selfie holding card and statement where we can see the top-up transaction, name, card number) to ensure your security.
If your card is digital or you use ApplePay, you may send the statement of the actual card showing the top-up transaction, your bank details, and your full name.
Exchange - the type of transaction refers to exchanging fiat or cryptocurrency you hold for the equivalent value of another fiat or cryptocurrency.