What is Source of Funds verification?
Source of Funds (SoF) focuses on the origin of the funds deposited to a customers account in a specific transaction or set of transactions. For example, the deposit method used to fund your latest deposit.
To verify this information we may ask you for a bank statement displaying a recent deposit to your account or an image of your payment card.
What is an affordability check?
Affordability checks are performed as part of our safer gambling responsibilities. The purpose of this process is to protect all customers from gambling related harm by ensuring that accounts are used in a manner that will not harm a customers personal or financial wellbeing.
Whilst we make every effort for these checks to be frictionless by verifying information electronically, it may still be necessary for us to ask you for further information or documentation.
How are they different?
Whilst both checks may have an overlap in the information or documents that are requested, the reasons for which they are performed are different.
A source of funds check is focussed on confirming the origin of the funds previously deposited to your account.
An affordability check is focussed on assessing your current financial situation and ensuring that you are using your account in a safe and responsible manner.
Aren’t checks supposed to be frictionless?
Whilst we make every effort for all account reviews to be as frictionless as possible by verifying information electronically, this may not always be possible. In such cases, it may be necessary for us to request further information or documents directly from a customer.