EdWallet payment verification and compliance

EdWallet compliance: verified accounts, ID proof for large transactions, proof of payment for wire transfers. Funds returned to payer if proof not uploaded in 24h, wire sent without registration, payment past expiry, or amount mismatch. New request link required after rejection.

Every EdWallet transaction goes through a compliance check from global payment providers. This is required for security and fraud prevention.

Required documents

• Bank account and digital wallet must be verified before initiating transactions.
• Identity proof (passport, national ID, date of birth) may be required for large transactions.
• Proof of payment must be uploaded to wire/bank transfer payment requests so funds are properly allocated.
• Credit card payments require no separate proof — compliance check happens immediately at payment time.

Wire transfers

Wire transfers always require proof of payment (provided by the payer's bank). Without this document, the transaction is rejected.

Reasons for failed compliance (funds returned to payer)

• Proof of payment not uploaded within 24 hours of student initiating bank/wire transfer.
• Wire transfer sent without registration details (no Edvisor payment request link).
• Payment made over 24 hours after Edvisor payment request link expires.
• Payment amount doesn't match the requested amount.

In these cases, a new payment request link must be created. Service or exchange rate fees may apply to returned funds.

Additional documents may be required

In rare cases where funds must be refunded to the payer, additional documents (account info, ID proof) may be requested.

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Source: https://help.edvisor.io/edwallet/payment-verification