Supporting Documents
What are supporting documents and why do we need them?
A supporting document is anything that helps us to understand where money for a transfer is coming from. Think of it like your money’s passport, so to speak!
When sending and receiving money, we recommend you go through our “Send funds” or “Add money” features accordingly, since the type of document varies by purpose of transfer. Simply fill out the details of the transfers, and our flow will recommend what types of documents work best. We don’t ask for these 100% of the time, but following the flow will point you in the right direction in cases we deem it is needed.
Additionally, because this might be needed prior to crediting funds, we recommend you do this flow each time so we have what we need on our end to process your funds as quickly as possible.
What documents might you need?
Depending on the purpose of the transfer, it can vary! Sometimes it’s a payslip, sometimes it’s an invoice. By following our “Send funds” or “Add money” features, it will show you just what to send us. Easy.
What do your documents need to show?
Your documents need to show your full name, the total amount (which should cover the amount you’re sending), and the date you received the money.
Depending on how you got the money, your documents might need to show some other information too. Read the rest of this article to find out more.
Your documents need to show your full name, the total amount (which should cover the amount you’re sending), and the date you received the money.
Depending on how you got the money, your documents might need to show some other information too. Read the rest of this article to find out more.
Would you accept a bank statement?
Depending on the transfer purpose, a bank statement may not be sufficient. Bank statements can help us to verify where your money came from, but they’re usually not enough on their own as a supporting document. A list below will show you a breakdown of documents you could send based on the purpose of the transfer.
Do you need to send documents in advance?
To make things as smooth as possible, yes. We will need you to go through the “Add Money” and “Send Money” features in advance. If the system requires you to upload supporting documents when going through the “Add Money” and “Send Money” features, kindly upload the documents to help us understand the transaction. Just as a heads up, it’s possible we might request supporting documents even if they were not required during the flow, if the transaction is unclear to us.
Do you need to get your documents translated?
All documents need to be a certified translation in English only, accompanied by original document.
Here are some examples of documents you could use for various transaction purposes that are common for business accounts:
Payment for goods and services
If payment is being received in crypto, then please provide:
Transfer from another company-owned account
Capital transfer
*These documents need to explain where the funds are coming from (source of funds verification)
Operating expenses
Funds transfer to a subsidiary
Investments
If payment is being received in crypto, then please request:
Loan or funding
- Signed loan agreement, investor agreement or similar. Ideally agreement should include all of the following:
- Purpose of loan
- Interest rate
- Repayment schedule
- Amount
- Names of parties involved
- Signed by both parties
- Loan statement showing source of funds
Payroll, employee reimbursement or bonus
Import, export of goods or logistics
Funds from crypto-related activities (Trading, staking or arbitrage)
Mining
Company capital distribution
Capital contribution or distribution to or from UBO
Need more help? Get in touch with our team via email support@arival.com or the Live Chat, we are here to help!
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