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August 4, 2026
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5
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Table of contents
What Is Proof of Source of Funds?
Why Do I Need To Provide My Proof of Source of Funds?
What Documents Can I Submit As My Proof of Source of Funds?
Do Digital Account Statements Count as Proof of Source of Funds?
How Do I Submit My Proof of Source of Funds on Oobit?
What Happens After I Submit My Documents?
Why Was My Proof of Source of Funds Rejected?
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This article explains what Proof of Source of Funds (POSOF) means, why Oobit may request it, what documents are accepted, and how to submit them. It also answers common questions and provides guidance to help your verification go smoothly.
Proof of Source of Funds (POSOF) is documentation that shows where the crypto or fiat you use on Oobit comes from. It helps confirm that your funds are legitimate, traceable, and compliant with financial regulations.
SOF relates to the origin of your money, not your identity or address. Examples include salaries, business income, investments, savings, or asset sales.
Oobit is required by global financial regulations to verify that the funds moving through the platform, both crypto and fiat, are lawful and transparent. Providing POSOF helps Oobit:
Find the source that best describes where your money comes from and start with the document in the second column. In many cases, one clear document is enough. The third column lists alternatives if you do not have it.
| Your source | Start with | Also accepted |
|---|---|---|
| Employment income | Payslips from the last 6 months, or a bank statement showing salary deposits for the last 3 months | Employment contract, HR letter confirming salary |
| Freelance or contractor | Bank statements showing client payments for the last 3 months | Invoices to clients, tax declarations showing business activity |
| Business owner or self-employed | Business bank statements for the last 3 months | Invoices with matching deposits, tax filings, company registration, proof of ownership, audited financial statements, proof of dividend income |
| Crypto trading and holdings | Exchange account statement showing deposits, trades, and withdrawals for the last 3 months | Wallet transaction history, blockchain explorer links matching your deposits, tax filings showing crypto income |
| Investments | Brokerage account statements for the last 3 months | Dividend statements, capital gains report or tax return, trade history |
| Savings | Bank statements showing your savings building up over time, covering at least the last 3 months | Fixed-deposit certificates, employment history or tax filings for context |
| Loan | Signed loan agreement plus the bank transfer showing the money arriving | Lender ID and declaration, if the loan is peer-to-peer or informal |
| Property or asset sale | Signed sale agreement plus proof of payment (bank or escrow) | Title deed or proof of ownership, lawyer or agent confirmation letter |
| Company sale | Share purchase agreement plus a bank statement showing the proceeds | Company registry showing the transfer of shares |
| Gift or inheritance | Gift letter, or will and probate documents, plus a bank statement showing the incoming transfer | Estate or executor documents |
| Student, family allowance, or scholarship | Bank statement showing the allowance or scholarship payments | Enrollment letter or student ID |
Statements from Wise, Deel, PayPal, Revolut, crypto exchanges, or similar platforms may be accepted if they clearly show the source of funds. Oobit may request supporting documents, such as a traditional bank statement, to verify where the money originally came from.
Statements from digital financial platforms (such as Wise, Deel, PayPal, Revolut, and similar services) are commonly used today, but they may require supporting documentation depending on the information shown on the statement.
If needed, you may be asked to provide a supporting statement from a traditional bank account that:
This additional documentation helps Oobit clearly verify where your funds originate, which is required under KYC and AML regulations.
Digital platform statements alone may be insufficient if they lack complete account details, do not show clear funding history, or cannot verify the origin of the money being used on Oobit.
If Oobit requests POSOF, you'll receive a prompt in the app.
Once you submit your POSOF:
Most reviews are completed within 1 to 3 business days.
A submission can be rejected for common reasons:
Do I need to submit POSOF every time?
No, you only need to submit POSOF when Oobit requests it. This typically happens for compliance reasons or when your activity reaches certain thresholds.
Can I use the same document for multiple purposes?
Yes, you can reuse a document as long as it clearly shows your source of funds. It must still meet all verification requirements at the time of submission.
Do screenshots count?
No. Screenshots are not accepted for POSOF or POA verification. Documents must be a clear photo of the original document (or a full scan) showing all required details.
What if I don't have documents in my name?
You may need to provide additional explanation or alternative supporting documents. Our support team will help you determine what is acceptable.
Is my information secure?
Yes, your documents are encrypted and handled according to strict data protection standards. Only authorized compliance personnel can access them.
Will you share my information with external sources?
No, Oobit does not share your POSOF documents with external parties except where required by law or regulation, or with service providers acting on our behalf to support verification and compliance checks. Your information is used solely for verification and compliance purposes.
What if my income varies month to month?
You can submit multiple statements that show a typical pattern of your earnings. This helps provide a clearer picture of your financial activity.
Do crypto profits count as proof of source of funds?
Crypto-related funds may be accepted, subject to review. You'll typically need to provide transaction history showing how the crypto was obtained and how the funds reached you, for example exchange statements and/or wallet histories.
What happens if I don't provide POSOF?
Your account may experience temporary limitations until verification is completed. These restrictions are removed once acceptable documentation is submitted.
Do I only need to submit one document?
In many cases, one clear document is enough as long as it fully explains the source of your funds. If your financial situation is more complex, you may be asked to submit more than one document for clarity.
Which document should I pick to submit?
Choose the document that best represents how you primarily earn or receive your money. If you have multiple income sources, submit the clearest and most complete documentation first, and our team will request more only if needed.
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Oobit provides technology that enables users to spend digital assets through existing payment networks. Services are subject to regional availability and regulatory requirements. Oobit operates through multiple entities globally. Certain features may be provided by licensed partners depending on your location.
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