"Know Your Customer" Policy

What is the Purpose of our “Know Your Customer Policy”?

• Prevent our company from being used for criminal activity (eg: auction fraud, identity theft, money laundering, hacking activities etc.)

• Enable our company to comply with Canadian Law: http://www.fintrac.gc.ca which is similar to the Patriot Act in USA.

How does the "Know Your Customer" Policy Work?

In order to achieve the purpose of our Policy, we defined 4 Customer Status levels, which correspond to 4 different levels of ID Verification.  Depending on your Customer Status, your order amount and/or your Method of Payment possibilities may be limited.

To view these limits per level please see: Methods and Policies of Payment.  Click on the link entitled "Show Payment Policies" under the Method of Payment group of your choice.  This action will display the limits of that Method of Payment group for each level of verification.

Verification Requirements vs Customer Status 

VISITOR:
You automatically obtain the Customer Status VISITOR when you activate your Profile account by clicking on the link in the email confirming your registration.  Visitor is the same Customer Status as LEVEL 1, except that you have not completed your first order with us yet.

LEVEL 1:
You automatically obtain the Customer Status LEVEL 1 once you have completed your first order with us.

LEVEL 2: 
Upgrade your Customer Status to LEVEL 2 by completing the following steps:

1. Scan and Email  the following ID documents in .jpg or .pdf format to: admin@betterxchangers.com or you can fax clear non-picture copies to: 1-206-426-3335:
   • Driver’s License, 200% enlarged (a color copy would be preferable), or
   • Passport with picture.
   • Phone Bill showing your phone number, name and address.  (Land-line residential phone preferably, and not more than 2 months old).
   • Electricity/Hydro Bill, or
   • City Tax Invoice, or
   • Bank Statement, or
   • Credit Card Statement, (all of the above not more than 2 months old).
   • IMPORTANT:  All picture ID documents with photos must be scanned and emailed.  Please do not fax them as they are received completely black and illegible, which is no good to us to effect proper verification.  Any documents that are received blurry, distorted, unreadable, or appear to be tampered with will NOT be accepted.
2. Participate in a Phone Verification check with us where we will call the land-line phone number you have provided to verify that the phone number is valid and that it belongs to you.
3. We will also conduct an online search for your contact details and IP address to ensure that they are valid via services such as US Whitepages or Canada411.

LEVEL 3: 
Upgrade your Customer Status to LEVEL 3 by completing the following steps:

1. Bank Certification (simple and easy to do):
   • Complete the following Identification Form (NB: the Fax number has been changed to: 1-206-426-3335), then go to your Bank and request for an employee at the Bank to sign the form.  Ensure that he/she accepts to be contacted by our company via phone to confirm that he/she effectively signed the form, otherwise the form is useless to us.
   • Mail ALL of the following documents to:
     BetterXchangers Verification
     Unit 120 – 5951 No 3 Rd. Suite #901
     Richmond, B.C. V6X 2E3
     Canada
     • The orginal completed and signed Identification Form.
     • Clear enlarged colour copy of your Driver's License, or
     • Passport with picture.
     • Clear copy of your Phone Bill showing your phone number, name and address. (Land-line residential phone preferably, and not more than 2 months old).
     • Electricity/Hydro Bill, or
     • Bank Statement, or
     • Credit Card Statement (all of the above not more than 2 months old).
2. Participate in a Phone Verification check with us where we will call the land-line phone number you have provided to verify that the phone number is valid and that it belongs to you.
   

Privacy Policy

Please note that we respect your right to financial privacy.  The information requested above will be kept strictly confidential and not shared with any outside parties for any purpose, except when specifically required to do so by a lawfully executed order from a court in Canada.  This information will not be provided to outside parties for marketing or any other purpose.  Please see our Privacy Policy for details.