What is Safety Check?
Safety Check is a security flag we have for crypto withdrawals. Safety check occurs when our compliance team needs to review the transaction for any risks.
Why does this happen with new accounts?
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 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 withdrawal for security reasons.
Following European AML regulations and the AMD 5 Directive, from 29/12/2022, Nebeus introduced new rules for express transactions made between Money Accounts to Crypto Accounts. Go to our Rules for Fiat Transactions article.