Bank account verification is a standard security and regulatory requirement. It protects you and helps ensure the platform operates safely and legally.
1. To prevent fraud and protect your funds
Verifying your bank account confirms that:
The account belongs to you
Withdrawals are only sent to a legitimate, authorised bank account
This prevents identity theft, account takeovers, and unauthorised withdrawals. Third-party withdrawals are not supported.
2. To comply with regulations (KYC & AML)
W are required by law to comply with:
KYC (Know Your Customer)
AML (Anti-Money Laundering) regulations
In South Africa, this aligns with FSCA and FIC requirements, ensuring platforms do not facilitate fraud, money laundering, or financial crime.
3. To ensure safe and accurate withdrawals
Bank verification:
Reduces failed or delayed withdrawals
Ensures funds are paid out to the correct account
Helps resolve disputes or payment issues faster
4. To protect the platform and all users
By verifying bank accounts, the platform can:
Detect suspicious activity early
Prevent misuse of the system
Maintain a secure trading environment for all clients
Is my information safe?
Yes. All bank details are:
Encrypted and securely stored
Used only for verification and transaction purposes
Never shared with third parties unless legally required
Bank verification is there to protect you, your money, and the integrity of the platform.
It’s a once-off process and helps ensure smooth, secure deposits and withdrawals going forward.