KYB levels for Business User

TransFi API Requests for KYB, Based on the transaction risk identification, geography and transaction amount. Based on these mentioned parameters, you can be asked to submit Standard KYB and later on Enhanced KYB.

On a very high level (This can vary based on geo)

• Basic KYB / Level 0 requests for - User's basic information such as Business Name, Country, Date of incorporation, Registration number, Email, Phone and Address (To be submitted during business user account creation).
• Standard KYB / Level 1 requests for - KYC of UBO (Ultimate Beneficial Ownership), Details of Directors, certificate of incorporation, Self certified shareholders registry, Proof of address of the UBO.
• Enhanced KYB / Level 2 requests for - Memorandum/Articles of Association, Self certified Director's list, Corporate shareholder registry, Source of funds.

Each level of KYB requirement kicks in when a business user reaches a transaction threshold. This can be based on a per-transaction amount, the sum of all transactions in a day, or the sum of all transactions in a month

While creating an order, if the transaction limits are breached, following error codes will be returned,

• STANDARD_KYB_REQUIRED
• ENHANCED_KYB_REQUIRED

In such case, user needs to submit KYB

For exact thresholds, please connect directly with the BD Manager or email us at [email protected]