To protect customers and partners, our fiat providers run transaction-monitoring programs. These checks help meet regulatory obligations and reduce fraud, theft, scams, and money-laundering risks.
What providers look for
Providers continuously screen fiat payments (deposits/withdrawals) for patterns that may indicate risk, including:
- Name mismatches between sender/receiver and the account owner
- Elderly-exploitation red flags
- Unusual patterns (very large amounts, many small payments, high velocity, structuring/smurfing)
- Third-party (“3PP”) transfers
Thresholds & reviews
- For certain payment types, providers set review thresholds.
- Payments above a provider-specific threshold may be routed to manual review and can require supporting evidence.
- Thresholds vary by provider and risk level.
Other limits
“Me-to-me” and business flows may have fewer preset limits, but any payment can receive extra scrutiny where risk factors exist (e.g., limited business presence, elderly counterparties).
Providers may reverse any payment that cannot be sufficiently substantiated or is deemed high-risk.
Response times
- Flagged payments are reviewed during provider support hours.
- Reviews are typically processed promptly; outside of normal hours, reviews may take longer.
- Timeframes vary by provider and payment rail.
Requests for Information (RFI)
If a payment is flagged, the provider may request more details. Typical examples include:
- Relationship & purpose: Who is the counterparty and why is this payment being made? Provide invoices/receipts or similar.
- Source of funds/wealth: Where do the funds come from? Provide bank statements/contracts if asked.
- Activity context: Explanations for many counterparties, high volumes, or high velocity.
- Name or use mismatches: Receiver/beneficiary name doesn’t match the account; personal account used for business; undisclosed money transmission.
How RFIs work
We’ll reach out with the provider’s questions and the info they need. If the requested details aren’t provided within the provider’s response window (often up to 2 business days), the payment may be reversed back to the sender and the account may be temporarily paused until the review is complete.
Tips to avoid delays
- Use your own bank accounts for “me-to-me” payments where possible.
- Ensure names match your Peanut/fiat-provider profile.
- Keep documentation handy (invoices, contracts, bank statements).
- Avoid acting as an intermediary or money transmitter for third parties.
Who runs these checks?
Monitoring and RFIs are performed by our regulated fiat providers and their banking partners. Peanut itself is self-custodial for digital assets; fiat on/off-ramping is provided by third parties, never by Peanut directly.