When onboarding individuals and companies, you may be required to collect a Tax Identification Number (TIN) depending on the country of tax residency. Countries fall into one of three categories:
Pooled safeguarding or client money accounts are used to hold money on behalf of multiple customers, also known as members of the pool. You are responsible for making sure membership of the pooled account is accurate and up-to-date.
There are four steps to onboarding a company with Verify.
There are four steps to onboarding a sole trader with Verify.
There are four steps to onboarding an individual with Verify.
In outsourcing we do not complete third party checks on the data sent to our system, this is done by you. We are validating that required data exists and that the customer is not out of appetite for industry, jurisdiction or risk profile purposes.
Reliance is for use by regulated firms only, onboarding via Reliance is only available by API.
Overview