Activate Your Account and Remove Limitations

To fully open your account you will need to complete Rapyd’s (KYBKYB - Know Your Customer (KYC) and Know Your Business (KYB) are verification processes where all regulated businesses identify and check potential individual (KYC) and business (KYB) clients. Also referred to as Customer Due Diligence this requires the collection and cross-checking of information about the customers or businesses from across multiple data sources. The confidential customer data used in the verification process must be managed in accordance with data protection regulations.) (Know Your Business) process. Once your KYB questionnaire is submitted and approved you will be able to transfer the funds you collected to your bank account, remove account limits, and utilize additional Rapyd Products.

In order to speed up getting your account fully activated follow these steps:

Step 1: Start Building Out Your Integration to Safely Test It in the Sandbox

Make sure to get your test API keys in the Client Portal. You can toggle your Client Portal to sandbox mode to view your test data.

Step 2: Complete Your KYB Application

In the Client Portal click on “Activate Account” to complete the KYB process and add your bank account information for payouts. Select Start Application to get Started.

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Financial Institution or Disbursing Funds Checkboxes

Select the applicable checkbox only if it applies to your entity. If they do not apply, you may select Start Application.

Step 3: A Compliance Specialist Will Begin To Look at Your Application

To complete business verification and verify bank account ownership your account will go into review. Depending on your country, it can take up to 30 days to approve your application before your account can be activated. If the compliance specialist is missing information and needs additional details to get your account approved they will reach out to you.

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Before Activating Account

Check this list to confirm that you are eligible to apply for a Rapyd account.

KYB FAQs

What documents do I need to provide to complete KYB and fully activate my account?

The required documents will vary from country to country and by the requested services. You might be asked to provide documents such as articles of incorporation, organizational structure, proof of address, etc.

Once I complete the KYB, how long is the waiting period until I am approved?

Our compliance review and approval can take up to 30 days but you can start collecting payments from your customers right away.

How can I change my questionnaire after it has been submitted?

Once you submit your application you may see your information, but it won’t be possible to make any changes to it.