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Activating Your Account (KYB)

Fully activate your account and fulfill Know Your Business requirements.

Activate Your Account and Remove Limitations

To fully open your account you will need to complete Rapyd’s KYB (Know Your Business) process. Once your KYB questionnaire is submitted and approved you will be able remove account limits, collect payments 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

  1. Sign in to the Client Portal as described in Signing in to the Client Portal.

  2. The Get started page appears.

    kyb-flow-1.png

  3. Click the Verify my account button to start your KYB application.

  4. The KYB Application page appears.

    kyb-flow-2.png

  5. Complete the following required fields:

    • Country

    • Business Type

    • Industry

    • Sell Type

    kyb-flow-3.png

  6. Click Start Application.

  7. The Business Details page appears. Provide information about your business, which is required for compliance with regulatory and business requirements.

    kyb-flow-4.png

  8. Complete the required fields.

  9. After filling the required fields, click on the Company Details link in the left menu.

    kyb-flow-5.png

  10. The Company Details page appears. Provide information about your company.

    kyb-flow-6.png

  11. Complete the required fields.

  12. You can upload supporting documentation at the bottom by clicking the + button.

    kyb-flow-7.png

  13. After filling the required fields, click on the Authorized User link in the left menu.

    kyb-flow-8.png

  14. The Authorized User page appears. Provide personal details about the Account Owner.

    kyb-flow-9.png

  15. Complete the required fields.

  16. After completing the required fields, click on the Beneficial Owners link in the left menu.

    kyb-flow-10.png

  17. The Beneficial Owners page appears. Provide the personal details of individuals who hold 25% or more of the company shares.

    kyb-flow-11.png

  18. Complete the required fields.

  19. (Optional) - You can click the Authorized User checkbox at the top of the page if the Beneficial Owner is the same person as the Authorized User.

  20. (Optional) - If there are no beneficial owners for your company, select the No option at the top of the form. A window will appear asking you to confirm. Click Confirm.

    kyb-flow-12.png

  21. (Optional) If there are multiple beneficial owners, add additional beneficial owners in the left menu.

    kyb-flow-13.png

  22. Complete the required fields for the Beneficial Owner page if applicable.

  23. Click the Submit button at the bottom of the form.

    kyb-flow-14.png

  24. Confirm you are ready to submit the application and complete the reCAPTCHA.

    kyb-flow-15.png

  25. Click Submit.

    kyb-flow-16.png

  26. The application submission screen appears, listing your application status.

    kyb-flow-17.png

  27. Click View Application to view your KYB application details.

    kyb-flow-18.png

  28. Check your KYB application status by navigating to the Get Started page.

    kyb-flow-19.png
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.

Follow Up with Rapyd Support

The KYB approval process may take up to 30 days before your application is approved and your account can be activated.

If you have not received a response from Rapyd within 30 days, please open a ticket through Rapyd Support. See Creating a Customer Support Ticket for more details on creating a support ticket.

Before Activating Your 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. You need to wait until your account receives KYB approval before collecting payments from customers.

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.

In this section:

The process of verifying the identity of a business customer.

In Rapyd, the sandbox environment provides most of the functionality of the production environment, without using real money. Interested persons can use the sandbox to explore Rapyd's product offering or to test software integrations with Rapyd's API.