Now, that you have started clubbing money via chit fund on the Money Club we would like to tell that everyone loves clubbing with verified clubbers! It increases the level of trust with the peers you are pooling your funds with.
The Money Club assures zero credit risk to its customers therefore it allows you to go to higher clubs only when you have built a good transaction history on the platform and completed the 2 levels of verification. Our algorithms track the performance of each member and keep updating the risk profile of the user. The following path can take you to higher amount clubs –
- Complete the pilot club successfully
- Complete level 1 verification
- Complete level 2 verification
Keep participating in smaller amount/high-frequency clubs to build a good transaction history to eventually join higher amount clubs.
Every clubber needs to complete 2 levels of verification:
- Level 1: id and background of the clubber is verified using your PAN / Aadhaar number
- Level 2: Income and credit history of the clubber is verified using ITR, bank statements and Credit scores
Every clubber needs to complete his Level 1 verification before he can enter a real club. However, with Level 1 verification you will only be allowed to club with a limited amount of money.
To access higher denomination Money Clubs you will need to complete your Level 2 verification with us.
You can complete your Level 2 verification as soon as possible and all you will need to submit the following documents to email@example.com to complete your verification:
- Last 6 months bank statement showing the income inflow
- Latest ITR form
- Latest credit report
Within 2 days you will receive an email from us specifying the Money Clubbing Limits that you can avail on our platform.
And the best part is that going forward, you will be given preferential access to invitations for joining more and more Money Clubs, based on your limits.
To become an L2 verified clubber as soon as possible!