At One World, we strive to make the process of transferring money simple, fast, and secure. Whether you are sending money to loved ones, paying bills, or conducting business transactions, we ensure your transfer experience is seamless. However, to ensure a safe and compliant transaction, certain requirements must be met.

1. Identity Verification (KYC – Know Your Customer)

To comply with regulatory requirements and ensure the security of every transaction, customers are required to undergo a Know Your Customer (KYC) process. This involves verifying your identity before any monetary transfer can be processed. The following documents may be requested:

• Valid Government-issued ID (Passport, National ID, or Driver’s License)
• Proof of Address (Utility bill, bank statement, or official document showing your current address)
• Source of Funds (This may be required for larger transactions to ensure compliance with anti-money laundering (AML) regulations)

2. Recipient Information

To send money through One World, you’ll need to provide accurate details about the recipient, including:

• Full Name (as per official ID)
• Phone Number (for some transfer options)
• Recipient’s Bank Account Information (for direct bank transfers, including account number and bank name)
• Mobile Wallet Details (if sending to a mobile wallet, such as Wave or Nafa, the recipient’s phone number or wallet ID)

3. Transfer Amount and Currency

• Amount to be Transferred: You’ll need to specify the amount of money you wish to send, and the currency type (e.g., USD, EUR, GMD).
• Currency Exchange Rates: For international transfers, exchange rates may apply, and the recipient may receive funds in a different currency depending on their location.

4. Transfer Method

Depending on the service you choose, there are several ways to complete a transfer:

• Bank Transfers: For sending funds directly to a bank account.
• Mobile Wallet Transfers: If the recipient uses a mobile wallet (like Wave, Nafa, Yonna etc.), ensure the correct mobile wallet number is provided.
• Cash Pickup: For recipients who prefer to pick up cash in person, specify the cash pickup location.

5. Transfer Fees

A small fee may apply depending on the transfer amount, destination, and chosen method. The applicable fee will be disclosed to you before you complete the transfer. Ensure you review the fees to understand the total cost of your transaction.

6. Purpose of the Transfer

In some cases, you may be asked to specify the purpose of your transfer. This is to comply with international regulations, including anti-money laundering (AML) and combating the financing of terrorism (CFT) laws. Common reasons for transfers include:

• Personal Remittances (sending money to family or friends)
• Bill Payments (utility bills, rent, etc.)
• Business Transactions (payment for goods or services)

7. Security Measures

• Password/Pin: For added security, you may be asked to create a PIN or password to confirm the transaction.
• Two-Factor Authentication: Some transactions, especially larger amounts or international transfers, may require additional authentication to verify your identity.

8. Transaction Limits

• Daily/Weekly Limits: Depending on your account type, there may be limits on the amount you can send per day or week. Higher limits may be available upon request and subject to additional verification.
• Minimum/Maximum Amounts: Each transfer service may have a minimum or maximum transfer amount. Ensure your transfer meets the service requirements.

9. Recipient Notification

Once your transfer is successfully processed, both you and the recipient will typically receive notifications, such as SMS or email, confirming the details of the transaction.

10. Compliance with Local and International Laws

All transfers must comply with the local regulations of both the sending and receiving countries. One World follows all international and local anti-money laundering (AML) laws and sanctions to ensure every transfer is lawful and secure.

By meeting these requirements, we can ensure a smooth, secure, and reliable transfer process for both you and the recipient. At One World, we are committed to providing exceptional service while adhering to the highest standards of compliance and security in the financial industry.

If you have any questions about the requirements or need assistance with a transfer, our customer service team is always here to help!