Compliance Requirements
All entities using Lumx services must agree to our Terms and Conditions (“TC”) and our Privacy Policy. The preferred approach is to incorporate these documents within your own, ensuring your end users review and accept the terms before using Lumx services.
If incorporating the TC directly is not feasible, we provide a dedicated Terms and Conditions link. Entities can share this link with their end users to ensure they agree to the terms before proceeding with Lumx services.
Alternatively, we provide a dedicated Terms and Conditions link, which can be shared with entities so that their end users accept the terms before proceeding.
Every beneficiary must undergo a KYC/B (Know Your Customer/Business) process for identity verification.
KYC and KYB may not be available for beneficiaries in specific jurisdictions.
Below are the required data according to the type of beneficiary (individual or business) and the KYC/B level applied:
KYC/B Light
| Individual | Business |
|---|---|
| First Name | Legal Name |
| Last Name | Tax ID (or government-issued number) |
| Date of Birth | Incorporation Date |
| Country | Country |
| Full Address | Full Address |
| Postal Code | Postal Code |
KYC/B Standard
Includes all information from KYC/B light, plus:
| Individual | Legal Entity |
|---|---|
| Tax Identification Number (CPF or equivalent) | Trade Name* |
| Phone Number* | Website* |
| IP Address | IP Address |
| Identification Document - Country | Documents of Shareholders with more than 20% ownership (excluding phone and IP) |
| Identification Document - Type (passport, national ID, driver’s license) | Articles of Incorporation |
| Identification Document - Front | Proof of Address |
| Identification Document - Back* | Company Financial Documents (balance sheet, income statement, or recent bank statements) |
| Type of Address Proof (utility bill, bank statement)* | — |
| Address Proof Document* | — |
*Fields marked with an asterisk are optional.
Enhanced KYC
Includes all information from KYC/B Standard, plus:
Attention: All individuals undergoing Enhanced KYC will be manually verified by Lumx’s compliance team. This process may take up to 48 hours.
| Individual |
|---|
| Proof of Income |
| Purpose of Transactions |
| Description of the Purpose of Transactions |
Transaction limits
We apply transaction limits based on the KYC/B level of beneficiaries. In other words, as transaction amounts increase, more stringent verification and compliance levels are required to ensure security and regulatory compliance.
| KYC Light | KYB Light | KYC Standard | KYB Standard | KYC Enhanced | |
|---|---|---|---|---|---|
| Per transaction | $1,000 | $3,000 | $10,000 | $30,000 | $50,000 |
| Daily | $2,000 | $6,000 | $50,000 | $100,000 | $100,000 |
| Monthly | $10,000 | $15,000 | $100,000 | $250,000 | $500,00 |
Attention: All individuals undergoing Enhanced KYC will be manually verified by Lumx’s compliance team. This process may take up to 48 hours.
Status progression
KYC/KYB status can progress according to the following flow:
PENDING→UNDER REVIEW→APPROVED
For low-risk regions, the review process can be completed within seconds. However, in high-risk locations or cases requiring manual review, verification may take 1 to 2 business days.
PENDING→UNDER REVIEW→CHANGES REQUESTED→APPROVED / REJECTED
If the entity’s provided information is incomplete or inconsistent, Lumx may request corrections or additional documents before concluding the review.
PENDING→UNDER REVIEW→REJECTED
In some cases, an entity may be rejected if the submitted information is invalid or inconsistent, such as an incorrect tax identification number or unrecognized documents.