Source of funds: why we ask and what documents to send
A source of funds check shows where the money in your JAFX account comes from. Examples are your salary, savings, investments, the sale of an asset or a business you own.
JAFX (PTY) LTD is an authorised financial services provider regulated by the FSCA (FSP No. 52058). We must know our clients and check that their money comes from a legitimate source. This protects you and helps prevent fraud and money laundering.
The check has two parts:
- A question. In the questionnaire on the Verify page, you state your source of funds and confirm it is correct.
- A document. During the identity check, you upload a document that supports your answer. Have it ready together with your ID and your proof of address.
When we ask for it
The source of funds document is part of the identity check. Until your account is verified, you can deposit up to $4,000 a day and withdraw up to $4,000 a day. Once your account is verified, these daily limits no longer apply.
Once your account is verified, we do not ask for a new source of funds document just because you make a large deposit or withdrawal. If we need anything more from you, we will email you.
What to send
One document is usually enough if it clearly shows where your money comes from. If it doesn't, we may ask for another one.
| Source of your funds | Preferred document | Alternatives |
|---|---|---|
| Salary | Payslips issued within the last three months (90 days), showing your employer's name, your name and the amount paid. Or bank statements covering the last three months that show regular salary payments from an employer we can identify. | Your tax return, or an employment verification letter stating your position, start date and salary |
| Savings | Bank or savings account statements showing your name, your account number and how your savings built up or are held, usually covering 3 to 12 months (or longer if we ask). If your savings came from your salary, the salary documents may also apply. If you're not sure what to send, email support@jafx.com before you upload. | |
| Investments | Proof of your balance at a crypto exchange, showing your name, your account number (if the exchange gives one) and your current balance. Proof of bitcoin sent from your exchange account is also accepted. A PDF is preferred. Screenshots from an exchange are reviewed case by case. | A bank or brokerage statement confirming the assets you hold |
| Sale of an asset (property, a business, shares) | A valid receipt or legal document showing the completed sale, with the date, the amount you received, the buyer and a description of the asset | A copy of the sales contract |
| Owning a business | Proof of ownership, such as a current share register entry or an equity statement, showing your name and your percentage of ownership. A business registration document or company tax filing can support it. | The company's tax returns, or audited financial statements showing profits, dividends and/or bonuses |
| Inheritance or gift | A bank statement showing the money arriving, clearly marked as an inheritance or gift, with the giver's name and the date | A will or grant of probate, or a letter from the giver explaining the reason for the gift, the amount and where their own money came from |
Check your document before you upload
- It shows your full name.
- All text is clear and easy to read.
- It is not password-protected.
- A photo shows all four corners of the document.
- It is ideally a PDF. Screenshots are easy to alter, so we only review them case by case.
- It is a PDF, PNG or JPG file, up to 10 MB.
- It is recent: source of funds documents must be dated within the last 90 days (three months).
Bank statements: download them from your online banking if you can. A printed statement received by post may be reviewed case by case. Make sure it lies flat and no part is hidden by folds.
How to upload it
Upload the document during the identity check under Verify in the client portal (app.jafx.com). Your status then shows Under review. We email you when the review is done. See How to verify your account (KYC) for the full steps.
If your source of funds document is not accepted, you may send another document to support@jafx.com. If you have trouble uploading on the Verify page, you can also email your documents to support@jafx.com.
Questions? We are available 24/7 via live chat or email (support@jafx.com).
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