Check if your question is answered - FAQ January 2021

9 months ago

Check if your question is answered - FAQ

To help you find a quick answer to your question, we have gathered the top issues and most asked questions below.

What is the status of my ID verification?

Our goal is to process verifications as soon as possible. However, due to an increased demand it can currently take up multiple business days before your ID verification is processed. We continously work on verifications. Every submitted verification will receive either an accepted or rejected confirmation by e-mail. If your verification was rejected, the reason is given in the e-mail. You can resubmit your ID verification. Please follow the instructions given here.

What is currently under maintenance?

For all maintenance related questions, please always check our status page. We keep this updated with the latest information. If we have a time estimation on the duration of the maintenance, it will be posted there.

When will I receive my payout?

Payouts to your bankaccount may take several business days. This depends on bank processing times. We perform payouts in batches twice a day. Around noon and 16.30 CET. Payouts to non Dutch banks usually take at least 1 full business day and up to 3 business days. Please allow for some processing time. Weekends are not counted as business days.

What is the status of my IBAN verification?

You can check the order status on the order overview. If your order is on the status "IBAN verification" it may not be fulfilled. We only allow payments from an IBAN if the name matches the name in your LiteBit account. We use an automated system to detect matches. If no automated match was possible, our financial staff will manually review the payment. The payment is either accepted or refunded. You are notified by e-mail of the outcome.

Important: If the IBAN is not allowed for payments, the payment will be refunded. If the purchase involves crypto, the crypto will be sold for prevailing market prices. Any losses incurred in this process due to price fluctuations will be deducted from the refund amount.

For details please have a look at Article 11 of our Terms & Conditions

Can I use a business related IBAN?

All business related IBAN are not allowed. We will refund any payments made with business related bank accounts. This process may take several business days.

Can I use a personal shared IBAN?

Personal shared bank accounts are allowed, but require manual approval by our financial staff. We monitor all incoming payments. If additional information is required we will contact you.

How can I change my phone number?

If you need to change the phone number on your LiteBit account, please submit a request using this form.

Please include the old number and the new number in the description of the request.

If you are using 2FA by SMS please use the 2FA reset form. You can enter the new phone number after your reset request has been accepted.

We will do our best to respond to your request in a timely matter. We go over these requests every day, but it may take longer during periods of high demand.

How do I regain access to my 2FA?

If you lost access to your 2FA device or authenticator app, please use this form to fill in the required information.

Complete the first step of login by entering e-mail/password. The form will ask for some information and to submit a picture of yourself holding an ID and a handwritten note with the date on it. Make sure to read the instructions on the form and that the information on your picture is visible and readable. This speeds up the process and prevents rejection/resubmissions.


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