What Coffr checks before you pay
Coffr confirms the company, the people and the bank account behind a payment before the money moves. Here's what that proves, and what it doesn't.
What Coffr checks
- The person: a government ID and a selfie, checked by our identity provider.
- The business: its tax ID and legal name.
- The bank account: that the person can access it, through our bank-connectivity provider or small test deposits.
- Sanctions lists: names are screened against government lists. [Confirm launch date before publishing this line.]
What a verification proves
That on the date shown, these checks passed for this recipient and this account. After verification, the recipient's bank details can't change in Coffr without a new verification.
What it doesn't do
- Coffr doesn't hold, move or insure your money, or reimburse any payment.
- It only applies to the account Coffr verified. If someone emails you different bank details, verify them before you pay.
- It doesn't settle disputes between you and a real counterparty, such as goods not delivered.
- Things can change after a check. Set a reverification schedule that fits your risk.
If something goes wrong
Call your bank right away and ask for a recall. Report the fraud at ic3.gov. Then tell Coffr at support@getcoffr.com. Legal claims against Coffr are covered in the Terms of Service.