How to upgarde to Tier One

What are the requirements for Tier 1? :
Tier 1 is where your account becomes functional. The following are the requirements needed to upgrade your account to Tier 1:

Nationality Selection

You’ll begin by selecting your nationality from the dropdown then tap “Continue.” This is part of regulatory requirements that ensure your account is compliant with financial laws. .

AML (Anti-Money Laundering) Check

You’ll complete a short form asking about your source of income, employment status, and related financial details. This is known as an Anti-Money Laundering (AML) check. Every financial institution is required to collect this information to help prevent fraud and protect users.

Tap “Continue” once you have filled in the relevant information.

PEP (Politically Exposed Person) Declaration

You’ll also see a question about whether you are a Politically Exposed Person (PEP). This simply refers to individuals in public positions or those closely related to them. Answering “yes” does not cause any issues; it just means additional checks may apply.

Residential Address Submission

After that, you’ll be asked to provide your residential address.  Fill in all the fields: your country, state, local government, nature of accommodation (renting or owning), house number, street name, and a short direction description. Then tap "Proceed."

Liveness Check (Selfie Verification)

One of the most important steps in this stage is the liveness check, where you’ll take a selfie. This step confirms that your face matches the identity linked to your BVN. 

To make this step easier make sure you're in a well-lit area, good lighting is key. Remove anything covering your face: glasses, caps, scarves. Then look straight into the camera and show your full face clearly. Tap "Proceed to Take Selfie" when you're ready.

Manual Verification
If the Liveness check does not work, you’ll be given the option to complete manual verification instead. This involves uploading a clear photo of yourself holding a valid government-issued ID, along with the ID itself.

This may take slightly longer, it is just as secure and effective. Once your identity is verified, your Tier 1 account is activated.

At this point, your Sycamore MFB account has been created and becomes fully usable. You can send money, receive transfers, and pay bills but there are transaction limits on this tier, These are listed below:

• Tier 1 single transaction limit: ₦50,000

• Daily transaction limit: ₦200,000

• Max Cumulative Balance :₦300,000