What |
Why |
When |
|
Contact details |
Name Phone # |
For creating a new user account KYC / verifying contact details AML / sanction screening |
A user signs up For B2B services, collect all details during onboarding |
Individual details |
Individual name Individual address Individual phone # |
KYC / verifying individual details | Collect when a user initiates their first transaction |
Bank details |
Name on account Account # Routing # |
KYC / verifying bank details AML / sanction screening |
Collect once the first sale is complete and funds are due to be paid out |
Photo ID |
Driver’s license Passport ID card (government issued) |
KYC / verifying documents | Only needed if identity cannot be verified from other documentation |