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: KYC documents are waiting to be reviewed.

Declined: The account has been declined and the account owner will be prompted to provide new documents.

Approved: The account has successfully completed the verification process.

Both basic and verified accounts are able to withdraw crypto. However, verified accounts have higher limits. See Basic Account and Withdrawal limits for more information.

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

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

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