Guide

Account verification

Flexible Payment Options let you accept payments in both crypto and fiat. Before you can activate these options, Acctual requires certain personal information to comply with financial regulations and protect you from fraud.

Why do I need to KYC?Copied!

Acctual must verify your identity to ensure safe and compliant transactions. KYC (Know Your Customer) checks are legally required and help keep our platform secure.

  • Faster Payments: Once verified, you can seamlessly receive payments in your chosen format.

  • Reduced Fraud: Your identity verification safeguards against illicit activities.

  • Regulatory Compliance: Meeting legal requirements ensures Acctual can continue to offer flexible payment options.

What information is required? Copied!

To complete individual onboarding, Acctual typically needs the following:

  1. Name: First and last name

  2. Full Address: Street address, city, postal code, province/state, country

  3. Date of Birth

  4. Email Address

  5. Identification Number:

    • National identity number (for non-USA residents)

    • Social Security Number (for USA residents)

  6. ID Verification:

    • May be required if your payment activity is above a certain threshold

  7. Proof of Address:

    • Only needed if you’re in an EEA (European Economic Area) country or if you need SEPA (Euro) access

Note: In rare cases, Acctual may request additional information (e.g., occupation, source of funds) if you have high transaction volumes or certain risk factors.

How to Complete Your KYCCopied!

  1. Initiate KYC

    • When you enable Flexible Payment Options for the first time, Acctual will prompt you to begin the verification process.

    • You can also start KYC at any time from your Settings if you anticipate receiving higher payment volumes.

  2. Submit Your Personal Details

    • Fill out the required form with your legal name, address, and date of birth.

    • Provide your ID number (e.g., SSN for USA, national ID for other countries).

  3. Upload Supporting Documents

    • If prompted, upload a government-issued ID (passport, driver’s license, etc.).

    • In some cases, you may be asked for proof of address (e.g., a recent utility bill).

      • Proof of Address Document Requirements

        • Document confirming the current residential address

        • Addressed to the individual issued in the last 90 days

        • No PO boxes or virtual addresses

        • Accepted documents:

          • Bank statement

          • Utility bill

          • Government-issued letter

          • Government issued ID (issued in the last 90 days)

          • Residential lease agreement (must be current, can be older than last 90 days)

  4. Review & Confirmation

    • Acctual will verify your information.

    • Typically, this process takes a few minutes to a couple of business days, depending on the volume of applications and if any additional checks are needed.

Tip: Make sure your uploaded documents are clear and legible to avoid delays.

Frequently Asked QuestionsCopied!

  1. How long does KYC approval take?

    • Typically within minutes, but it can take up to a couple of business days if manual review is needed.

  2. Is my information secure?

    • Yes. Acctual uses industry-standard encryption and strict compliance protocols to protect your data.

  3. Can I start receiving payments before KYC is completed?

    • You can create invoices, but Flexible Payment Options remain limited until your KYC is approved.

  4. What if my KYC is rejected?

    • You’ll receive an email or notification explaining what needs to be corrected or resubmitted.

  5. Do I need to redo KYC for future transactions?

    • Generally, no. Once verified, you can use Flexible Payment Options indefinitely, unless your account activity changes significantly.

By completing KYC, you unlock Flexible Payment Options in Acctual, giving you and your customers more ways to pay and get paid. This one-time verification ensures a safe, compliant environment for all users. If you have any questions or need assistance, please contact us at support@acctual.com.

Flexible Payment Options let you accept payments in both crypto and fiat. Before you can activate these options for your business, Acctual requires certain business information to comply with financial regulations and protect you from fraud.

Why Do I Need KYB?Copied!

Acctual must verify your business identity to ensure safe and compliant transactions. KYB (Know Your Business) checks are legally required and help keep our platform secure.

  • Faster Payments: Once verified, you can seamlessly receive payments in your chosen format.

  • Reduced Fraud: Your business verification safeguards against illicit activities.

  • Regulatory Compliance: Meeting legal requirements ensures Acctual can continue to offer flexible payment options.

What Information Is Required?Copied!

To complete standard business onboarding, Acctual typically needs the following:

  1. Legal Entity Name

    • The official, registered name of your business.

  2. Registered Address & Principal Operating Address

    • Where your business is legally registered and where it primarily operates.

  3. EIN/TIN (or Non-US Equivalent)

    • Your Employer Identification Number (EIN) or other tax/registration number.

  4. Business Entity Type

    • Specify your entity type:

      • Sole Proprietorship

      • Partnerships

        • General Partnerships (GP)

        • Limited Partnerships (LP)

        • Limited Liability Partnerships (LLP)

      • Corporations

      • Limited Liability Companies (LLC)

      • Trusts

      • Cooperatives

      • Nonprofit Organizations

      • Foundations

      • DAOs

  5. Business Formation Documents

    • Proof of how your company was formed. Below are acceptable formation documents by entity type:

      • Sole Proprietorships

        • Business License

        • Trade Name Registration

        • DBA ("Doing Business As") FilingSole Proprietorships

      • Partnerships

        • General Partnerships (GP)

          • Partnership Agreement

          • Business License listing all partners

          • Trade Name Registration (DBA) listing all partners

        • Limited Partnerships (LP)

          • Certificate or Registration of Limited Partnership–filed with the secretary of state or similar government body to officially form the LP

        • Limited Liability Partnerships (LLP)

          • Certificate or Registration of Limited Liability Partnership–filed with the secretary of state or similar government body to register the LLP

      • Corporations

        • Articles of Incorporation–filed with the secretary of state or similar government body

        • Certificate of Incorporation–filed with the secretary of state or similar government body

      • Limited Liability Companies (LLC)

        • Articles of Organization–filed with the secretary of state or similar government body

        • Certificate of Incorporation–filed with the secretary of state or similar government body

      • Nonprofit Organizations

        • Articles of Incorporation–filed with the secretary of state or similar government body

        • Certificate of Incorporation–filed with the secretary of state or similar government body

        • In Addition Application for Tax-Exempt Status: Form 1023 or 1023-EZ filed with the IRS to obtain 501(c)(3) status or similar tax-exempt recognition

      • Foundations

        • Articles of Incorporation–filed with the secretary of state or similar government body

        • Certificate of Incorporation–filed with the secretary of state or similar government body

      • Decentralized Autonomous Organizations (DAOs)

        • Legal Entity Formation–if the DAO formed a legal entity (e.g., LLC) with the secretary of state or similar government body

        • Other DOA Formation Documents:

          • White Paper

          • Membership or Token Agreement

          • Governance Framework

      • Trusts

        • Trust Deed (or Trust Agreement)–establishing the trust and outlining the roles of the trustors, trustees, beneficiaries, and terms of the trust

        • Certificate of Trust (or Abstract of Trust)–proving the existence of the trust and the trustee's authority

        • Notarized Trustee’s Affidavit–confirming the identity and authority of the trust parties

      • Cooperatives

        • Articles of Incorporation–filed with the secretary of state or similar government body, establishing the cooperative listing its members

        • Bylaws–confirming the creation of the cooperative and specifying the cooperative’s governance and operational rules

        • Membership Agreement–outlining the terms of membership, rights, and responsibilities of cooperative members

  6. Business Ownership Documents

    • Documentation showing current ownership structure and any beneficial owners.

  7. KYC on All Beneficial Owners and/or Control Owners

    • Ultimate Beneficial Owners (UBO): Individuals/entities with complete ownership/control.

    • Control Person: Executive officer (CEO, CFO, COO, President) who directs or controls the business if different from the UBO.

    • Each relevant individual must provide personal ID and proof of address as per US or international requirements.

  8. Proof of Address Documents (If Applicable)

    • Valid address documentation for both the business and key individuals.

      • Business Proof of Address Documents

        • Document confirming the current operating address

        • Addressed to the applying entity issued in the last 90 days

        • No PO boxes or virtual addresses

        • Accepted documents:

          • Bank statement

          • Utility bill

          • Government-issued letter

          • Office lease agreement (must be current, can be older than last 90 days)

          • Note: DAOs may provide proof of physical residential address for their verified control person if the DAO does not have its own physical operating address.

      • Business Operator(s) Proof of Address Documents

        • Document confirming the current residential address

        • Addressed to the individual issued in the last 90 days

        • No PO boxes or virtual addresses

        • Accepted documents:

          • Bank statement

          • Utility bill

          • Government-issued letter

          • Government issued ID (issued in the last 90 days)

          • Residential lease agreement (must be current, can be older than last 90 days

  9. Business Description & Website

    • A short overview of what your business does and your official website URL.

  10. Disclosure of Customer Money Transmission

    • If you move customer funds, explain how you handle compliance screening and safeguards.

  11. DAO Status (If Applicable)

    • If your business operates as a Decentralized Autonomous Organization

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