As part of our continuous efforts to improve our services, PDAX will be requiring all Verified, Premium and Prime users (as of March 16, 2023 8:00 AM) to complete an account verification update beginning March 16, 2023 to June 30, 2023. By updating your account, you’ll be able to enjoy your access to all our services, as well as our upcoming products and features.
The process will only take a few minutes. We also have a few perks in it for you when you complete it!
Here’s what you need to know:
What is the account verification update for?
The account verification update is an essential step for updating our existing user database which will help us streamline customer experience and align our services with your financial goals and needs.
The update will introduce the following new features and changes:
- Setting up an account will be easier and more accessible for new users with the introduction of a new account level (Level 1 - Basic) which will allow users to cash in, deposit crypto, and trade right away upon account creation.
- Users will be able to determine their own financial profile, which will give them access to all upcoming PDAX products beyond cryptocurrencies.
The table below shows each account level’s benefits and features after completion of the verification update:
For more information on PDAX Prime please visit this link.
How do I go through the account verification update?
To complete the update, you will need to access your PDAX account from web.pdax.ph or from the mobile app during the update period.
1. Log in to your PDAX account. Click or tap on “Set financial goals” to begin the verification update.
Click “Set financial goals” to begin on web.pdax.ph.
Tap “Set financial goals” to begin on the PDAX mobile app.
2. Review your personal information details and your ID image which will be presented to you. Make sure the information we have in your account is correct before proceeding.
3. Complete the biometric check.
4. Answer the investment goal questions to generate your financial profile. Take note that proceeding to unlock the next levels, Premium (Level 3) and Prime (Level 4) will require more supporting documents for your financial profile (See table below).
5. After submitting the requirements, go back to the PDAX Home page.
6. Look for the "Set financial goals" prompt to ensure the success of the update. If the said prompt is no longer found on your home page, then your account reverification has been successfully submitted.
Until when can I accomplish the update?
You can complete the account verification update from March 16 until June 30, 2023.
What are the requirements for completing the verification update?
The information needed to accomplish the update for each account level are summarized in the the table below:
*Previously provided to PDAX
Why will I be asked for my financial information?
The financial information you share helps with your financial status and risk appetite assessment. By knowing your financial situation, we can offer products and services that are more suited for your needs.
What will happen if I don’t complete the account verification update on time?
If you are unable to complete the account verification update by June 30, 2023, you will not be able to withdraw fiat and crypto from your account until such time that you are able to update your account.
What if I need to change or update the personal information that I currently have in my account?
You can update your personal information you provided previously when you created your account such as your name, address, email address and phone number by sending us a support request through our Contact Us form and following the steps below:
- Select “Account Management” > “Updating my account information” from the list of dropdown options.
- Fill out all the required information.
- Upload a photo or selfie of yourself holding a paper stating your request and the information being updated, along with three (3) specimen signatures. This step is required for security purposes.
- Once you have emailed your account information update request, our account management team will validate your information. You can expect your account to be updated within three (3) to five (5) business days.
Can I update my account while I am abroad?
You can process your verification update even while you are outside of the Philippines, as long as they are not within restricted regions or in countries with local government restrictions with the use of cryptocurrencies. For the list of unsupported regions please refer to this link.
Are there any other perks for completing the update?
Yes! After completing the account verification update, you will be airdropped a free NFT or digital collectible from the PDAX exclusive “The Legendaries” collection.
How do I claim my NFT/digitable collectible?
After confirming your account verification update, we’ll be sending you an email with more details on how to claim your digital collectible.
I need assistance in updating my profile. Who can I reach out to?
For any inquiries or needed assistance, you may contact one of our Customer Success Representatives through this link.