Know Your Customer (KYC)
Everything you need to know about verifying your legal entity
Before Katanox can process payments on your company's behalf, we’re required by financial regulators to verify your legal entity through the Know Your Customer (KYC) process.
These checks are in place to prevent financial crime and ensure we meet legal obligations across all the regions where we offer payments. Katanox currently supports financial onboarding for entities registered in the European Economic Area (EEA), the United Kingdom (UK), and the United States (USA).
Please note that the collection of information, in a standardized manner, is required for each legal entity for which funds shall be administered, and it refers to:
- Information about the legal entity associated with the account - including company registration and bank account details.
- Information about the person who is completing the KYC application. This person must be permitted to sign documents on behalf of the entity.
- Information about the individuals who own and control the entity.
Legal entity information
Legal entity information we ask you to provide:
- Legal entity and company name
- Type of entity
- Website (if available)
- Tax ID (e.g. VAT, EIN)
- Company registration number (e.g., Chamber of Commerce number) Registered address
- Bank account details for payouts (must match the legal entity name)
Legal entity documents we ask you to upload:
- Bank statement or cheques issued in the last 3 months
Applicant & ownership details
The person submitting the KYC application must be authorized to act on behalf of the company.
We’ll ask for a copy of the identification documents for:
- Full name
- SSN - (if applicable)
- Date of Birth
- Registered address
Other specific information:
- Applicant: job title
- UBOs: the type of UBO, either by ownership or control, and whether they are an authorized signatory.
- Authorized signatory: email address
Applicant & ownership documents you’ll be required to provide:
- One form of valid ID (passport, driver’s license, or national ID) for each natural person.
The uploaded document(s) must not have expired, and all identifying information, including document number and photo, must be clearly visible.
What happens next?
Once submitted, our internal compliance team reviews your application, and the UBOs with signing authority receive an email requesting their signature on the contract.
Only users with appropriate permissions can view your KYC data, and your information is handled securely in accordance with our Privacy Policy.
If you have questions or need help, contact us at [email protected].
FAQs
I would like my payouts to be deposited into more than one bank account, but I can only add one in the workspace. What should I do?
Just add one of your desired bank accounts to the workspace and complete your KYC application. To add more accounts belonging to the same legal entity, please reach out to [email protected] to inform us of your request, and our team will assist you further.
I work with multiple entities. How should I onboard?
Each legal entity must undergo KYC individually. However, within the Katanox Finance workspace, you can create and manage multiple companies from your account. Navigate to the main page and click "Add company" to begin a new KYC application.
Can anyone at the company complete the KYC application?
No, KYC is a regulatory requirement; therefore, only individuals who are authorized to sign documents on behalf of the company can complete the application.
Updated 19 days ago