Virtual Account requests go through a separate evaluation process with its own documentation requirements, in addition to the standard KYB verification. This guide lists the documents and information required for the Virtual Account evaluation.
Mandatory Documentation
- Industry type: Select the industry that best describes your business (e.g., Technology, E-Commerce Platforms, Software Development, Educational Services).
- Entity type confirmation: Confirm your legal structure (e.g., Corporation, Company Limited by Shares, LLC).
- Nature of business: Provide a brief high-level description of your products or services (up to 250 characters).
- Purpose of the account: Describe how you plan to use your BlindPay account (e.g., payments, settlements, treasury management, operational flows).
- Source of Wealth: Describes how the business or its owners originally accumulated their overall wealth. For example: business earnings, prior ventures, or long-term investments.
- Source of Funds: Describes how the funds you'll use on BlindPay are generated. For example: operating revenue, customer payments, or investment capital.
Source of Funds Supporting Documentation
The Source of Funds document needs to demonstrate the financial capacity and the origin of its funds. Accepted documents include, but are not limited to:
Company (KYB)
- Audited financial statements
- Unaudited/management accounts (for recently incorporated companies)
- Bank statements for the last 3 months showing financial activity related to the company's operations
- Tax returns or annual tax filings
- Contracts or invoices demonstrating business activity
The document submitted must be issued in the company's name and should be consistent with the business description provided during onboarding. It should clearly reflect transactions and financial activity related to the company's operations, allowing us to understand the nature and origin of the funds expected to flow through the account.
Individual (KYC)
- Last year of personal tax returns
- Last 3 months of bank statements
- Employment contract (if salaried)
The document submitted must be issued in the individual's name and should clearly reflect transactions and financial activity allowing us to understand the nature and origin of the funds expected to flow through the account.
For full documentation requirements and accepted documents, see the Source of Funds & Source of Wealth guide.