There are two account levels on Liquid: Basic and Verified

|Account Status| Verification Status  |         Description         |
|:-----------:|:---------------------:|:---------------------------:|
|  Basic      | Pending               | No KYC documents submitted  |
|  Basic      | Document_Submitted    | Documents to be reviewed    |
|  Declined   | Declined              | Required to resubmit KYC    |
|  Verified   | Approved              | KYC is approved             |

Pending: A newly registered Liquid account.

Document_Submitted: The KYC documents are waiting to be reviewed.

Declined: The account that doesn't pass this process in which you as the Liquid account owner, will be prompted to provide new documents.

Approved:  The account that pass the verification process.

Crypto deposit and withdrawal are available to all above accounts. However, the withdrawal limit will be varied between Basic and Verified accounts:

See: Basic Account and Withdrawal limit

Only accounts with Verified status have access to fiat deposit and withdrawal.

Finally, there is the Banned status. This is when the Liquid account is deemed to have done malicious/abusive activities to the platform. All services, except signing in and out, will be unavailable.

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