Requirements for WME Purse owners (Natural Persons)
In accordance with the legislation of the European Union, the WME Guarantor has the following requirements for WME Purse holders:
1. User Details and Age Restrictions
The WME purse holder must provide his/her name, surname, date of birth and full residential address (user location) including country of residence.
The WME purse holder must be at least 18 years of age if he/she resides within the European Economic Area (EEA), or at least 14 years old if he/she is residing outside the EEA and is of legal age in their country of residence.
EEA countries include: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Gibraltar, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and the UK.
2. Restricted Countries
Residents of the following countries are not permitted to use a WME purse: American Samoa, Afghanistan, Bosnia and Herzegovina, Ethiopia, Guyana, Guam, Iran, Iraq, Laos, Libya, Mali, Mauritania, North Korea, Northern Mariana Islands, Somalia, Sudan, South Sudan, Syria, Yemen, Uganda, Vanuatu and the USA.
3. Thresholds and Document Requirements
3.1. It is not required to submit identity documents if the total deposits during one calendar year to all WME purses registered to one WM Passport do not exceed 2500 WME.
3.2. If the total deposits made to WME purses exceed 2500 WME during one calendar year, it is necessary to submit the following documents:
- A valid national passport or other ID document.
- A document confirming your current place of residence.
Coloured scans of the documents no older than 3 months that may be submitted as proof of address include:
- Bank statement
- Utility bill (gas, electricity, landline telephone bill)
For the purposes of submitting a proof of address document the following characteristics must be met:
i) has been sent to you by normal post, or in case of a bank statement/reference letter, has been given to you personally at the branch of the institution
ii) contains your full name and address
iii) bears a stamp, signature or other hallmark of authenticity
iv) the document is written in Latin or Cyrillic characters, or a CERTIFIED translation in English
NOT ACCEPTED: mobile telephone bills, credit card statements, provisional driver's licenses, payment orders, national identity cards, bank books.
3.3. If the total deposits made to all WME purses belonging to one passport exceed 15000 WME during one calendar year, it is necessary to submit a bank statement or other documents confirming the source of funds.
Scanned copies of the required documents should be uploaded to the WebMoney Passport website.
In case a WME purse holder does not satisfy the above requirements and/or their identity document validity period has expired, his/her WME user rights may be restricted (purses may be blocked) for both incoming and outgoing transactions.
Date of requirement entry into force – 15.07.2015
The total WME balance on purses belonging to the same passport at the time of entry of the requirements into force will count towards the incoming transactions total as per Section 3 of the above requirements.
FREQUENTLY ASKED QUESTIONS:
1. Are these requirements valid only for residents of the EEA, or for all WME Purse holders?
- The requirements are compulsory for all WME Purse holders, regardless of their citizenship and country of residence.
2. Do I need to upload a copy of the ID document if the limit has exceed 2500 but the copies of ID and proof of address have already been uploaded and verified (Personal Passport)?
- You will only be required to re-submit the identification documents if your current documents have expired.
3. What can be considered as supporting documents if the limit has exceeded 15000 (for example, if I frequently place bets at bookmaker and this amount is my weekly turnover)? If the amount will be reached few times during a calendar year, would I be required to re-submit the supporting documents?
- You will be required to submit supporting documents only once, subject to approval and acceptance by the WME
Guarantor. Documents confirming source of the income include the account holder`s bank statement no older than three months, which shows incoming transactions, a letter from the employer, etc.
4. If on 15.07.15 the balance on my WME purse is 0 (zero) – is it correct that a calculation of the total of the incoming transactions for the calendar year will start from “0” based on the balance on the 15.07.15? Does it mean that all incoming transactions before 15.07.15 will not be included in the total amount?
- If on 15.07.15 the balance on the WME purses attached to your passport is “0” (zero), the calculation of the total of incoming transactions for the calendar year will start from “0”.
5. Do I need to upload the identification documents: a residential passport, a proof of residential address, etc. if my Personal or Formal Passport has been verified and these documents have been uploaded to and verified by WM Passport Centre?
- If the identification documents have been previously verified by WM Passport Centre, you will need to re-submit the identification documents only if the current identification document has expired.
6. Please explain in detail, what the requirements are for bank statements and other documents confirming source of income, if the limit on incoming transactions on WME purses attached to one passport exceeded 15000 WME for the calendar year?
- We accept scanned copies of bank statements no older than three months. The bank statements should clearly show the amount and source of the income.
- Other documents should be submitted as scanned copies with the same requirements as to the bank statements. The documents should be no older than three months and show the beneficiary name as well as the amount and source of the income.
7. What transactions are being considered as incoming transactions?
- The incoming transactions are: all funds transferred to WME purses attached to the passport, i.e. transactions and transfers from any participants of the system, as well as direct deposits to the purse(s).
8. If I am receiving funds to my account in Euro, as exchanged via http://wm.exchanger.ru/ - is this proof enough? I earn Rubles (WMR) for ad placement on several websites (there is no registered legal entity for this activity) – will this prevent me from going over the WME Purse limit?
- This type of activity is classed as freelance services (self-employment). Please indicate this when uploading your documents.
9. If my transactions exceed 15000 Euro within a calendar year, when do I have to submit my statement?
- The documents must be submitted within 30 calendar days after receiving the notification that the purse deposit limit has been exceeded. Failure to provide the documents may result in restrictions to the user rights for incoming/outgoing transactions in accordance with the current rules of the system.
10. If a passport contains several WMIDs, each of these has a WME purse attached and the deposits to each purse exceed 15000 during the calendar year, how do I upload the documents?
- The sum of incoming transactions is determined based on the total of all incoming transactions for all WMIDs and purses that are attached to a single PASSPORT. The documents must be uploaded to your Passport, not your WMID.