Tips to complete your onboarding process as a Business

Thank you for your interest in opening an account with us! To ensure that the onboarding process for your business is completed in a timely manner, please read carefully the recommendations listed below:

 

1.  If your company does not have an active website, please write, and upload a document that help us to understand:

  • The nature of your company
  • The profile of your customers
  • The purpose of opening an account with Wyre
  • The source of wealth of your company

 

2. For your Company Tax ID, please  provide:

  • US Accounts - Employment Identification number letter (IRS) is needed.
  • For international accounts, we need any legal document (in English) that allows us to confirm the Company number.

 

3. For Company Ownership Structure, please keep in mind that some Articles of Incorporation and/or other Proof of Ownership for  the company  do not show the Ownership  Structure; that is why we recommend based on the type of company provide in addition to the article of incorporation:

  • If the company is a Corporation, it is important to have the distribution of shares document in order to identify the ownership of the company and all the owners that hold 25% or more of the company. 
  • If the company is an LLC, it is important to provide a document that allows us to identify the ownership and control of the company, such as an annual membership list or any other document. 

 

4. For Identifications, it is mandatory to obtain a copy of the Passport or Driver’s License for each shareholder that holds 25% or more of the company. If uploading a non-Passport document, please provide a photo of the front and back. 

  • The identifications provided in this record must be consistent with the Company Ownership Structure document prior provided.
  • Also, if the person signing on the Wyre account is a different person than those listed in the "Company Ownership Structure Document," we need their identification and confirm their role/relationship with the company. 
  • The identification should be readable. Preferably they should have all four corners and edges.

 

5. Bank Statement - Payment Method 

The Bank statement provided should cover a full month and be no more than two months old, and  MUST match the commercial address of your business; if not, please provide a proof of address that supports the current address of your company. Note: Personal bank accounts are not accepted as payment methods for business accounts.

 

6. Additional documents that could be requested 

  • Based on our evaluation, proof of residence address may be requested for owners and signatories. 
  • If a company is part of the Ownership Structure, we could ask for more information regarding that company. 
  • If the nature of the business of the company includes, Money transmission activities, then the company should start a new Onboarding process as an MSB company. 
  • All documents must be translated into English.
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