Account Verification

There are 2 ways that a user can verify their Coinsquare account: Instant verification and document verification.

Our instant verification process cross-references your personal information with our KYC/AML partner to verify your identity instantly. This is the easiest way to get approved for funding and begin trading on the Coinsquare platform. To instantly verify your account, please make sure to correctly fill in all personal information.

In some cases, our partners are not able to verify the identity of a particular user and Coinsquare will require further documentation to verify their identity. A user will be asked to submit their documents in the Document Centre for manual verification.

The Document Center is not instant. It may take up to 3 business days for verification.

In the Document Center, you will be asked for three documents:

1. Government-Issued Photo ID

To ensure the safety of our users and platform, Coinsquare follows strict KYC rules which are outlined by FINTRAC. To ensure that your identity document is acceptable please take note of the following;

Your identity document must include the following;

  1. It must be issued by a government body (federal or provincial/territorial)
  2. It must be valid
  3. It must contain a photo of yourself
  4. It must contain your first and last name
  5. It must contain your date of birth

The following is a list of acceptable identity documents;

  • Passport (Canadian or foreign)
  • Provincial/Territorial Driver's License
  • Canadian DND Driver’s License
  • Canadian Forces Identification Card
  • Provincial/Territorial Photo Card
  • Provincial/Territorial Photo Health Card
  • Permanent Residence Card
  • Status Indian Card
  • Citizenship Card
  • Federal Firearms License

Please also take note of the following;

If you are submitting your provincial, territorial or DND driver’s license or photo identification card you must upload a copy of both the front and back

If you are submitting you provincial photo health card you must also submit a copy of your Canadian birth certificate

If you are submitting the old (laminated) version of your Status Indian Card you must upload a copy of both the front and back

2. Proof-of-Address Document

To ensure the safety of our users and platform, Coinsquare follows strict KYC rules which are outlined by FINTRAC. To ensure that your proof of residency document meets all of our requirements please take note of the following;

Your residency document must include:

  1. Your first and last name
  2. Your entire address (street, town, province, postal code)
  3. The document must be dated within the last 4 months

Please also note of the following;

We do not accept mobile phone bills. If you have a combined home phone/internet / TV/mobility account please make sure that the bill you are uploading specifies that you also receive other services besides your mobile service.

We do not accept PO Box addresses as a physical address as this indicates the location of a box/compartment at a postal outlet and not your physical dwelling or land address. You will need to provide a document that indicates the actual address/location of where you live. If there is no house or unit number, it should be descriptive enough to locate.

The following is a list of acceptable proof of residency documents;

Any of the following statements from the Federal, Provincial/Territorial or Municipal levels of government:

  • Canada Pension Plan Statement of Contributions (CPP)
  • Statement of Employment Insurance Benefits Paid (T4E)
  • Statement of Old Age Security (T4A)
  • Statement of Canada Pension Plan Benefits (T4A)
  • Statement of Remuneration Paid (T4)
  • Notice of Assessment
  • Goods and Services Tax/ Harmonized Sales Tax (GST/HST) Notice
  • Record of Employment (ROE)
  • Canada Child Benefit Notice (CCB)
  • Property Tax Assessment
  • Municipal Utility Statement
  • CRA Requirement to Pay Notice
  • CRA Installment Reminder / Receipt
  • Workplace Safety and Insurance Board Statement of Benefits (T5007)
  • Provincial/Territorial Vehicle Registration (only accepted if dated)

Any of the following statements from a BANK, trust company or credit union:

  • Bank Statement for a Chequing, Savings, Tax-Free Savings Account (TFSA)
  • Any Credit Card Statement
  • Registered Education Savings Plan (RESP)
  • Registered Retirement Savings Plan (RRSP)
  • Registered Retirement Income Fund (RRIF)
  • Registered Home Ownership Savings Plan (RHOSP)
  • Mortgage Statement

Any of the following utility bills:

  • Water
  • Hydro (Electricity)
  • TV (Cable / Satellite)
  • Home Phone
  • Internet

Any letter, transcript or bill issued by a Canadian university or college on their letterhead

Any letter, statement, bill or certificate issued by an insurance company registered in Canada

  • Home Insurance
  • Tenant Insurance
  • Auto Insurance i.e. “Pink Slip”
  • Life Insurance

 

3. Selfie Verification

To ensure the safety of our users and platform, Coinsquare follows strict KYC rules which are outlined by FINTRAC. To ensure that your selfie meets all of our requirements please take note of the following;

Your selfie must include:

  1. An unobstructed view of your face
  2. Your 5 digit Account ID Number written on a piece of paper which you are physically holding

Your selfie will not be accepted if:

  1. It was too dark, blurry, small, or the information contained in it was illegible
  2. It does not contain your correct 5 digit Account ID Number
  3. You use photo editing software to add your Account ID Number to the photo in any way

Please note that if you are unable to locate your 5 digit Account ID Number you may instead hold up your valid piece of government issued photo identification. Ensure that you hold your ID in a way that you are not covering any of the information on it with your fingers

Corporate Verification

If you would like to verify your account as a corporation, you will need to first be personally verified. Once you have verified your personal account, you will need to complete our corporate verification application.

Please email corporate@coinsquare.io to make a request for a corporate verification application.

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