Verification policy has been amended
Starting today, new rules came into force for buying digital products with iDeal. It has been decided, among other things, that all the bitcoin providers must comply with a “Know your customer” policy per February 3rd. The reason for this is that abuse of the iDeal system by cyber criminals needs to be prevented.
In practice this means the following:
- Existing customers that have bought bitcoins before February 3 are considered known and trusted customers and they can continue to order unlimited bitcoins with their previously used bank account, without the need for an extra verification.
- New customers (from February 3 onwards) or customers with a new bank account number can order up to 50 euro worth of bitcoins per week automatically. If they wish to order more than 50 euros worth of bitcoins per week, we will have to verify their account. Bitcoins that are ordered in advance will be reserved free of charge.
- There are no changes for selling bitcoins for the time being.
- The verification process does not apply to MisterCash.
The one-time verification process is simple and only takes a few minutes. While the verification process takes place, amounts over 50 euro can still be ordered and the bitcoins will be reserved for you for the applicable rate. To be able to receive the bitcoins, you will need to verify your bank account in addition to the SMS verification. For the verification you will need to transfer 1 eurocent to our bank account with a specific description. Your account will be verified within 1 business day after receipt of the transfer and open orders will be processed immediately. After verification you’ll be a trusted customer and all ordered bitcoins will be sent automatically.
We understand that it can be bothersome for some new customers to not have immediate access to their bitcoins, and we are sorry for the inconvenience. We are obliged to introduce this policy to be able to offer you bitcoins via iDeal. We thank you for understanding.
You can also choose to verify your bank account in advance, here.