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How do I add CAD to my Shakepay account online?
How do I add CAD to my Shakepay account online?

How to Add CAD to your Shakepay while you're online

Updated over a week ago

Adding CAD to your account while online just takes a few quick steps:

  • Click on the “Add funds” tab on the navigation bar to your left.

  • Select either “Interact e-Transfer” or “Bank wire transfer”. After selecting your funding method, the rest of the instructions will pop up.

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Interac e-Transfer details

You’ll be able to see all the important information to send an e-Transfer to fund your Shakepay account.

It displays some important information to note:

  • The email address where you send the e-Transfer

  • The security question: which will be your shaketag (username)

  • The security answer: a special code to use

When funding your personal account:

Funds must be sent from your own personal bank account. We will not accept funds sent from a corporate bank account or any other person. If you have sent funds from a joint bank account, you will be asked to provide a recent bank statement as proof.

When funding your business account:

Funds must be sent from the corporate bank account that is under your company's name. We will not accept funds sent from a personal bank account or a different corporate bank account.

Wire transfer details

All the bank information you will require to fund your account through a wire transfer will appear.

Note: We recommend wire transfers for larger amounts as we have a minimum of $10,000 to fund with a wire.

If you’d like to get wire transfer access set up, don’t hesitate to reach out to our support team.

What is Proof of Source of Funds and when will it be requested from me?

Proof of Source of Funds (POSOF) is a document or a set of documents that shows the source of incoming funds.

POSOF can be requested for incoming CAD sent from a bank account or to confirm the origin of cryptocurrency that has been sold for a cash withdrawal.

We are occasionally required to collect further information or documentation from our customers (such as POSOF) to comply with anti-money laundering laws and regulations or to complete due diligence. We may also request PSOF for high volume transactions.

Any POSOF document submitted needs to cover all deposits or withdrawals made 24 hours prior to the most recent high volume transaction.

Acceptable POSOF documents that may be requested include, but not are limited to:

  • Bank statement showing the deposit

  • Proof of Wire

  • Void Cheque

  • Consent letter from both parties on account for Joint accounts

  • ID of the co-owner of the bank account, showing the name and the signature

  • The Bitcoin or Ethereum wallet address that funded the Shakepay account

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