Verification: Know Your Business (KYB)

Before your business can fully operate within Wirex Pay, you must complete a Know Your Business (KYB) verification. This process ensures compliance with regulatory requirements and helps us prevent fraud, money laundering, and unauthorized activity. It involves submitting details about your company, its structure, and its key representatives.

Phase 1

1. Start Verification

After registration, click “Start Verification” from the homepage to begin the KYB process.

You will see the following message "You're about to submit sensitive data to Wirex Business. If you received this link from a suspicious source, please close this page and notify us immediately." Click Continue to proceed.

2. Consent to Data Processing

Confirm if you consent to the processing of your personal and business data.

3. Verification Flow Begins

You’ll now go through several sections: Company information, business details, and associated parties.

Let’s start with the Company Information.

Fill in the following details:

After completing the form, click Save and Continue.

4. Corporate Account Questionnaire

Here you will need to choose the type of your company.

Select your company type from the list:

5. Add Representatives (Associated Parties)

Add the individuals who hold significant roles in your company, such as directors, UBOs (Ultimate Beneficial Owners), or legal representatives. Associated parties refer to people with decision-making authority, ownership, or official roles in your business.

You will need to provide the Name, Surname and the Position of the associated party.

Once a beneficiary is created, click Continue. Later, you will be asked to provide more information about the beneficiary.

6. Review and submission

You’re done with the first phase! We’ll now review your submitted information. You’ll be notified once verification is complete or if additional information is required.

Phase 2

Phase 2 of the KYB verification process focuses on deepening our understanding of your business and its key stakeholders. In this phase, you'll provide detailed information about each associated party (such as directors, UBOs, shareholders, or legal representatives), clarify your company’s activities, and upload key documents that confirm your legal and operational structure.

Let’s walk through the steps:

1. Start the verification

While your initial submission (Phase 1) is under review, we recommend proceeding with Phase 2 to speed up the full verification process.

2. Submit Associated Party Information

Add details for each person involved in your business — including representatives, directors, ultimate beneficial owners (UBOs), and shareholders.

• A representative is authorized to act on behalf of the company.
• A director is part of the company’s leadership and is legally responsible for its actions.
• A UBO is someone who ultimately owns or controls more than 25% of the company.
• A shareholder holds ownership shares in the company.

See our detailed article on Understanding KYC for Associated Parties in Wirex Business.

3. Add Associated Party Details

Provide additional information for each associated party.

Please provide the following information for each associated party:

• First Name & Surname
• Date of Birth
• Nationality
• Country of residence
• Email Address
• Account Access Authorization (indicate whether this person should be granted access to the Wirex Business account.This means they’ll be able to log in, manage the account, and interact with the support team)

Once all parties are added, click Submit.

4. Provide Business Activity Information

You’ll now be asked several questions about your company’s operations.

Here’s what to expect and what to include:

• What industry does your business fall under?
  Choose the sector that best describes your operations (e.g. fintech, retail, software).
• Please provide a description of your business activity
  Briefly describe what your business does — e.g. "We provide crypto custody solutions to retail clients."
• In which countries will you provide these services?
  Mention all countries where your customers or business operations are located.
• What do you intend to use your Wirex Business account for?
  Examples: client payments, operational transfers, crypto-fiat conversion.
• What’s your anticipated monthly withdrawal value?
  Provide an estimated figure based on expected volume — helps us understand usage.
• What’s your actual/estimated turnover for the previous 12 months?
  Mention your past or projected annual revenue.
• What type of asset is your primary source of funds?
  Choose the main origin of your company’s capital: e.g. fiat, or crypto.
• Describe how your company generates income
  Explain your revenue model — e.g. subscriptions, trading fees, service charges.

5. Upload Company Documents

You’ll be asked to submit official documents that support your application,

• Company Presence – e.g. Certificate of Incorporation, Articles of Association
• Control Structure – e.g. Director registry or equivalent
• Ownership Structure – e.g. Shareholder registry
• Company Details – e.g. proof of address like a utility bill or bank statement

Document supported formats are: JPG, PNG, HEIC, WEBP, or PDF (up to 50 MB per file)