"Deposits over $4,000.00 a day need a few quick questions first": what we ask and why

You see this message when a deposit would take your total for the day over $4,000 and you have not yet answered a few questions on the Verify page. The questions take about 2 minutes. To deposit more than $4,000 in a day, you also need to verify your identity.

When the questions appear

Until your identity is verified, you can deposit up to $4,000 a day and withdraw up to $4,000 a day (USD equivalent). The day is counted in UTC. Rejected, failed, cancelled and expired transactions do not count towards it.

Deposits within $4,000 a day do not need these questions. If a deposit would take your total for the day over $4,000, the Deposit page shows:

"Deposits over $4,000.00 a day need a few quick questions first. It takes about 2 minutes."

We ask because JAFX (PTY) LTD is an authorised Financial Services Provider (FSP No. 52058), regulated by the FSCA. We must know our clients and check that their money comes from a legitimate source.

The questions

The portal asks about:

• your country of residence
• your source of funds
• whether you are a politically exposed person (PEP)
• whether you are related to a PEP
• whether you are a US person for tax purposes

If you answer "Yes" to either PEP question, we ask a few more questions.

To answer them:

1. Sign in at app.jafx.com.
2. Click Verify in the menu. On a phone, open the menu first.
3. Under "Verification steps", click "Answer now" on a questionnaire section.
4. Fill in the fields and click "Save and continue". You will see "Your information has been saved."

Each section saves on its own, so you can answer them one at a time.

Answer carefully. Your country of residence is locked once your identity check starts. The field then shows "Locked while your identity verification is in progress or complete." See How to update your address or country of residence.

What a politically exposed person is

The Verify page explains it like this:

"A politically exposed person (PEP) is an individual who is or who has been entrusted with prominent public functions domestically, internationally or by a foreign country — including immediate family members and close associates."

If you answer "Yes", we ask a few more questions.

Who counts as a US person

The Verify page explains it like this:

"This includes being a US citizen or green card holder, being tax resident in the US, having a US address or phone number, earning US-source income, holding 10%+ in a US entity, or any other ties under FATCA."

We can't accept clients who are US persons for tax purposes. If you answer "Yes", you can't make deposits. If your answer is wrong, you can update it on the Verify page or contact support. See "We're unable to offer accounts to individuals with US tax obligations under FATCA": what the US person question means.

We also can't accept residents of the United States or Canada. See Which countries can't open a JAFX account?

After you answer: you still need to verify your identity

Answering the questions is not enough on its own. To deposit more than $4,000 in a day, your identity must also be verified. Until it is, the limit stays in place.

If you try to go over the limit, you see "Daily deposit limit reached", with the buttons "Not now" and "Verify to remove limits". See "Daily deposit limit reached": the $4,000 limit for unverified accounts.

To verify your identity:

1. On the Verify page, open "Verify your phone number" and confirm your number with the code we text you. The identity check can't start until you do. Until then you see "Verify your phone number first. The identity check needs it."
2. Open "Verify your identity" and click "Start verification".
3. Upload a passport, ID card or driving licence (a photo, JPG or PNG), a proof of address and a source-of-funds document. Each file must be under 10MB.

Your status then shows Under review. We email you when the review is done, and your limits lift as soon as it is approved. Once your account is verified, there are no daily deposit or withdrawal limits.

For the full steps and the documents we accept, see How to verify your account (KYC) and Source of funds: why we ask and what documents to send.

Need help?

Use live chat (the Chat button in the portal) to talk to a real person. You can also email support@jafx.com from the email address registered on your JAFX account. We never ask for your password or a 2FA code.

We are available 24/7 via live chat or email.