Updated
As required under the Due Diligence Act, Due Diligence Ordinance, and related FMA guidelines, Damoon Technology (Europe) AG must complete the full Know Your Customer (KYC) process for all users.
The time needed depends on the type of verification checks:
- IDV (Identity Verification) and Facial Recognition:
If only these steps are required, verification is usually completed within a few minutes. - Additional Verification (POA or SOW/SOF Review):
If your account requires Proof of Address (POA) or a Source of Wealth / Source of Funds (SOW/SOF) review, the process is case-specific and may take 1 to 3 business days, though it can sometimes take longer.
Completing all required steps ensures your account remains fully verified and compliant, allowing uninterrupted access to Paymonade’s services.