As a regulated money transfer service company operating in the US, we are required to identify users on our platform. This ensures we remain in compliance with FINCEN and AML regulations in the jurisdictions in which we operate, something that is essential for maintaining our relationships with our payment and banking partners.
When you first create a Wyre personal account, we request some documents to verify your identity:
- Personal Details (Legal Name, SSN, Address)
- Personal Identification (Passport, Driver License, or State/Country ID)
- Source of Funds (connect your bank account via login credentials)
*If your bank is not supported you can manually add your bank account details and bank statement as an alternative. This option is only available for the Wyre dashboard.
For a Wyre business account (only available through the Wyre dashboard), we will need:
- Company Details (Business Name, Tax ID, Registration Number)
- Company Identification Documents (Articles of Incorporation, Certificate of Good Standing or other Proof of Ownership for the company)
- Identification of Beneficial Owners (for all shareholders with over 25% holdings in company)
- Source of Funds (connect your bank account via login credentials or manually add your bank details and bank statement)
Once we have these documents, we can verify your account; usually within 24 hours during business days. Accounts submitted over the weekend take 72 hours to be reviewed.
We realize that your information is very sensitive and security is a top priority for us. All customer data is stored on servers using bank-grade encryption and your information is never sold or provided to a third party for promotional purposes.
We reserve the right to reject accounts that we suspect fraudulent activity such as forged documents or identity theft. We also reserve the right to request additional documents to help verify an account.