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:
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.
In the Client Portal click on “Activate Account” to complete the KYB process and add your bank account information for payouts.
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.
Before Activating Account
Check this list to confirm that you are eligible to apply for a Rapyd 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.
Our compliance review and approval can take up to 30 days but you can start collecting payments from your customers right away.
Once you submit your application, it won’t be possible to make any changes to it.
Updated 20 days ago