FAQ

Individuals aged 18 or over, and legally registered businesses. Finik does not serve people located in, resident in, or nationals of jurisdictions on its Restricted Jurisdictions List, and does not currently offer its services to US persons.

A government-issued identity document, a biometric selfie with a liveness check to confirm you are the person shown on the document, and confirmation of your residential address. Verification is carried out through our identity verification provider. No service, transaction or withdrawal is available until it is complete.

Yes. In addition to the standard checks, business verification requires corporate documents and individual identity verification by each director and by each beneficial owner who owns or controls 25% or more of the business.

Finik applies a risk-based approach and may ask for evidence of source of funds or source of wealth, either during onboarding or later. This is a regulatory requirement that applies to every registered provider — it is not a judgement about you or your money.

Incomplete, unclear or inconsistent information is the most common reason an application does not go through, and in most cases it can be resolved. Contact support and you can submit the documents again. Providing false or misleading information may result in refusal, suspension or closure of an account.

Yes, at any time, through the platform or by contacting support. Any outstanding amounts are settled first and open transactions may be unwound. Once compliance checks are complete, your remaining crypto is returned to an external wallet address you designate.

After 12 months with no client-initiated activity, an account may be treated as dormant. We will try to reach you, and reactivation may require additional verification. Finik does not charge dormancy fees.

Yes, in defined circumstances: to comply with a law, a regulator's request or a court order; while investigating suspected fraud, money laundering or sanctions concerns; or following a serious breach of the Terms. Finik may also close an account without a specific reason by giving at least 30 calendar days' written notice.

Your balance updates after the required number of network confirmations and once on-chain screening is complete. How many confirmations are needed depends on the network you used.

Blockchain transactions are generally irreversible once broadcast to the network. If you send crypto to the wrong address, it is almost certainly gone permanently. Where recovery is technically possible, Finik will try on a best-efforts basis but cannot guarantee it, and a recovery fee may apply.

Send only the asset and network that match the deposit address shown to you. Sending the wrong asset or using the wrong network may result in permanent and unrecoverable loss, for which Finik is not liable. Contact support immediately with the transaction hash — recovery is occasionally possible, never guaranteed.

Every deposit, withdrawal and destination address is screened for AML and sanctions risk before it is processed. If a transaction or counterparty is flagged, Finik may delay or decline it and ask you for further information. This applies to all clients — a review is not a statement about you.

Network fees are displayed before you confirm a withdrawal, so you always see the total before it leaves your account.

This is the Travel Rule. For virtual currency transfers at or above CAD 1,000, Finik collects and transmits originator and beneficiary information to the receiving institution. Every regulated provider carries the same obligation, which is why the same questions come up on the other side of a transfer.

Finik supports the major crypto assets, and several of them on more than one network. The list is kept current in your account — open the deposit screen for an asset and you will see the networks available for it. Always match the network to the deposit address you are given.

Minimums depend on the asset and the network. The applicable minimum is shown in your account at the moment you generate a deposit address, before you send anything.

No. Your crypto assets and any funds associated with your Finik account are not insured or protected by the CDIC, any provincial deposit insurance plan in Canada, the CIPF, the UK Financial Services Compensation Scheme, any national deposit guarantee scheme in the EEA, or any other deposit-insurance or investor-compensation scheme in any jurisdiction. Finik is not a bank or credit union.

A custodian carries its own risks: a cybersecurity incident, internal fraud or misconduct, technical failure, regulatory action, or insolvency. Finik also depends on a small number of critical providers — the custodian, the card BIN sponsor, the identity verification provider, the on-chain analytics provider and the Travel Rule provider. We publish this because it is a real dependency, not a hypothetical one.

Data is encrypted in transit using TLS and at rest. Access is restricted to authorised personnel, multi-factor authentication is required for platform access, and access to personal data is audit-logged. We run regular security testing and vulnerability assessments. Production systems and databases are hosted in Canada, in Google Cloud's Montréal region, and personal information held in our database is stored in Québec and does not leave Québec.

Identity verification records, transaction records and account information are kept for five years, as required by Canadian anti-money-laundering law. Tax records are kept for seven years. Biometric data is not retained beyond the period needed to complete verification.

Contact support through the form on our contact page. To restore access you will need to complete identity verification again — this is what stops anyone else from claiming your account.

No. There is no charge for holding a Finik account, and no dormancy fees. You pay only for the operations you choose to carry out.

Before you confirm any operation, the platform shows the specific fee, charge or spread that applies to it, and the amount shown at that point is the tariff that applies. If a published schedule ever differs from what you saw in the app, the figure shown in the app governs. Nothing is charged that you have not seen and confirmed.

Any spread forms part of the price you see before you confirm. On OTC quotes the spread is included in the quote rather than listed as a separate line — you see the all-in rate you will actually receive, and you decide on that number.

Yes. For material changes Finik gives at least 30 calendar days' written notice. If you do not accept the new fees you can close your account before they take effect, and you will not be charged an early-exit fee for doing so.

Finik does not apply a fixed table of limits that is the same for everyone. What is available to you follows from your account type, your verification level and your risk profile — including the source of your funds and your source of wealth. As those are established, the limits that apply to you change accordingly.

You see a quote before you confirm, and that quote is all-in — the rate you see is the rate you get. Nothing is added afterwards.

A quote is held for a short window shown on screen. Confirm within that window and the rate you accepted is the rate you get — it will not move afterwards. If you leave the quote open, it refreshes to the current market price, and the new number is what applies from that point.

No. Once you confirm, the transaction is submitted to the blockchain and cannot be recalled or reversed. Check the amount, the asset and the rate before you confirm.

We add pairs continuously, based on what clients ask for and actually use, so the current list lives in your account rather than on this page. If a pair you need is not there, tell support — that is how most of them get added.

A swap executes instantly at the quoted rate. An OTC trade is handled by a dealer who sources a rate for that specific size and walks the trade through personally, which avoids moving the market against you on a large order.

Complete Finik onboarding, including full compliance and identity verification. Submit a request for the trade you want. Terms are then agreed individually with a Finik representative over email or chat — the rate and the fee are fixed at that point, and the assets are exchanged on the agreed terms.

USD, EUR, CAD and GBP against major stablecoins.

No. Nothing on the platform — including prices, market data, asset descriptions, analytics or any AI-generated output — constitutes advice or a recommendation to buy, sell, hold or enter into any transaction. Finik does not provide investment, financial, legal or tax advice.

Some compliance and onboarding steps use automated tools — sanctions and PEP screening, on-chain risk scoring, and automated approval of applications where no risk signals appear. But no decision is based solely on automated processing: a qualified member of the compliance team reviews the results before any final decision. You can request human review of a decision, put your point of view and contest the outcome.

News Feed filters for the stories that move markets, or plausibly could. It ranks incoming coverage by likely market impact rather than by volume or recency alone, so what reaches you is the small share of the day's news that is actually relevant to the assets you follow. It is information, not a recommendation — see the answer above on advice.

Use the contact form on this site, choosing the topic so your message reaches the right team. If you already have an account, you can also reach support from inside your account, where we can see your history and answer faster.

Use the complaint form on our contact page, or raise it with support. Include your full name and the email registered to your account, a description of what went wrong, the dates involved, any relevant transaction IDs or screenshots, and the outcome you are seeking.

We acknowledge receipt within 5 business days and provide a substantive response within 30 calendar days. Where a complaint needs longer investigation, our final response comes no later than 60 calendar days from the date we received it.

You can escalate outside Finik. Depending on the subject, that means the Bank of Canada as our regulator under the Retail Payment Activities Act, FINTRAC for anti-money-laundering matters, the Office of the Privacy Commissioner of Canada or the Commission d'accès à l'information du Québec for privacy matters, the Autorité des marchés financiers for Quebec residents where applicable, or a court of competent jurisdiction.