What are Source of Funds (SoF) and Source of Wealth (SoW)?

Published on Feb 19, 2025Updated on Feb 27, 20254 min read5

What are Source of Funds (SoF) and Source of Wealth (SoW)?

Navigating the requirements for proving the legitimacy of funds in financial transactions is crucial for maintaining compliance and transparency. Income is generally divided into two categories:

Source of Funds: specifies where the money for a particular transaction comes from, such as income, savings, loans, or the sale of assets.
Source of Wealth: refers to the origin of an individual's overall financial assets, typically accumulated over time through means such as employment, business ownership, investments, or inheritance.

Find the types of documentation accepted as proof for various SoF and SoW here.

Why do I need to provide proof of SoF and SoW?

As a regulated financial services company, we’re required to keep customer information up to date for a safe trading experience. As part of our ongoing efforts to meet these regulatory requirements, we may need to request additional information and supporting documents related to your SoF and SoW in certain cases.

How do I upload the documents?

Make sure your app is updated to the latest version.
Make sure your documents are clear and legible:
- All content should be fully visible, without any parts cropped or obscured.
- When submitting your documents, make sure that:
  - The details provided are accurate and current, reflecting your business transactions or income source.
  - The amounts on the documents are fully visible.

What are the acceptable proof documents?


SALARY	Payslip Bank statement (must include salary payments for the last 3 months) Payroll/monthly salary payment receipt Signed employment verification letter (must indicate position, date, and salary) 4A pension monthly statement 4B and 4C monthly statement Pension certificate or receipt/bank statement showing pension payments Tax returns (for the previous year – applicable only to self-employed individuals) Most recent audited account statement or tax return (only for self-employed individuals)
INCOME FROM DECENTRALIZED FINANCE (DeFi) PLATFORMS	Account statement from other crypto exchanges under the user's name (OKX reports are not accepted) Bank statement showing funds withdrawn from the exchange
SAVINGS	Three-month bank statement under the user's name Bank statement from a third-party financial institution showing a query on the client’s name, deposit history, and source of wealth (explaining how savings were accumulated) Most recent tax returns showing previous income Employer-signed letter or long-term social security statement obtained from e-Government, indicating position, start date, and salary details Interest income (bank statements showing interest earnings) Will or inheritance decision Letter from the donor explaining the reason for the donation, the amount, and the donor's source of wealth Bank statement showing funds/deposits received from the donor Court decision including divorce settlements and alimony payments (cash, property, etc.) Rental income (bank statement showing rental payments, issued within the last 3 months)
FUNDING FROM A FINANCIAL INSTITUTION	Documents proving a financing agreement with a financial institution (e.g., loan agreement) Bank statement showing funds received from a financial institution
INHERITANCE, GIFT, DONATION, OR GRANT	Bank statement showing received funds/interim investments Will or inheritance decision (confirming the probate process) Letter from the donor, including the relationship between the donor and recipient, both parties' names, the reason for the donation, the amount, and the donor's source of wealth. (For real estate donations, the agreement must be notarized.) Court decision including divorce settlements and alimony payments (cash, property, etc.)
RENTAL INCOME	Lease agreement and bank statement showing rent payments made by the tenant (must be issued within the last 3 months)
BUSINESS INCOME	Bank statement showing received funds/interim investments Will or inheritance decision (confirming the probate process) Letter from the donor, including the relationship between the donor and recipient, both parties' names, the reason for the donation, the amount, and the donor's source of wealth. (For real estate donations, the agreement must be notarized.) Court decision including divorce settlements and alimony payments (cash, property, etc.)
OTHER	Specify the type of income declaration in the free text field Upload relevant supporting documents

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