FAQ : KYB (Know Your Business) and Verification Process

Introduction 

This article consolidates answers to frequently asked questions regarding the verification process, as well as business information collected (i.e., KYB or Know Your Business) for a Mesh Payments customer. We hope this document addresses all your questions and invite you to contact us for any additional clarifications.

Getting Started

What is KYB?

KYB (Know Your Business) is the process we use at Mesh Payments to confirm that your company is legally registered, structured properly, and operating transparently. This step helps us meet banking requirements and also protects both your business and the wider financial system. As part of KYB, we’ll ask you to share some standard documents, such as your Certificate of Incorporation, EIN, identification for your UBOs (ultimate beneficial owners), an organizational chart, bank account confirmation, and your business address.

 Why does Mesh Payments request KYB documents?

As a U.S.-regulated fintech, Mesh Payments must follow compliance requirements set by our partner bank (Sofi). This means we need to collect company documents, ownership details, and funding information before activating your account. Even if your operations are abroad, the U.S. entity must still go through KYB. 

US Entity Requirements

Do I need a U.S. entity to use Mesh Payments?

Yes. To meet U.S. banking requirements, Mesh Payments requires every customer to have a registered U.S. company and a U.S. bank account. Since all funding is processed via domestic U.S. wire transfers, this structure is essential for onboarding.

I don’t have a U.S. address. Why can’t I use a non-US address?

Unfortunately,  non-U.S. addresses cannot be accepted for onboarding purposes. Per US regulation, Mesh Payments is required to collect a valid U.S. business address. This usually includes the registered address, meaning the official address listed in your U.S. incorporation documents or provided by your registered agent, or the physical address. Providing a U.S. address ensures compliance with banking and regulatory policies. 

Why is Mesh Payments requesting our Organizational Chart?

A: An organizational chart allows Mesh Payments to clearly understand your ownership and control structure, including any parent entities and the ultimate beneficial owners. This helps us ensure full transparency and meet banking compliance standards. 

Why does Mesh Payments require a Line of Business (LOB)?

Mesh Payments needs a basic Line of Business description because company documents do not always show what the business actually does.

This requirement also applies to companies in stealth mode, where activities are not publicly visible. A short, high-level description such as “technology development” or “e-commerce services” is sufficient, and no sensitive details are required. If needed, Mesh Payments can sign an NDA.

Individuals (KYC)

Why are IDs required?

Mesh Payments is committed to keeping your account safe and compliant. As part of U.S. banking regulations, we are required to collect identification documents for company owners and key individuals. This helps us confirm that no restricted or sanctioned persons are connected to the account and adds an extra layer of protection for your funds. By completing this step, you can be confident that your Mesh Payments account is secure and fully compliant.

What is a UBO?

A UBO (Ultimate Beneficial Owner) is a person who directly or indirectly owns 10% or more of the company or otherwise controls it. Mesh Payments must identify UBOs to ensure transparency in accordance with banking standards. 

Who needs to provide identification documents?

At Mesh Payments, a UBO (Ultimate Beneficial Owner) is any owner holding more than 10% of the company’s shares. In addition we also may require to collect identification document for Controlling Person 

What forms of ID are accepted?

A valid passport that must be current, complete, and clearly readable. 

Why does Mesh Payments request a Social Security Number (SSN)?

For U.S. persons who are beneficial owners or controlling individuals, providing an SSN is a legal requirement. It is used only for identity verification and handled with strict confidentiality. 

What is Controller Information?

Controller Information refers to details about the person in your company who holds significant decision-making power, such as a senior executive or key decision-maker at the C-level or other individuals holding equivalent authority and responsibility in the company. 

What is Admin User Information?

Admin User Information includes details of the administrator account created during the initial account setup. At this stage, one admin user is added solely for configuration and onboarding purposes. Once the setup is complete, it is possible to create and manage additional user accounts as needed.

Bank & Funding

Why does Mesh Payments request bank statements?

Mesh Payments uses bank statements to verify that your company has an active account in its own name. This account will serve as your funding source within Mesh Payments. Statements must clearly show the account holder’s name, bank name, account number, routing number, and date. 

Should the statement include balances or transactions?

The only information Mesh Payments needs is confirmation of account ownership and the basic account details. A recent document showing your company name, account number, routing number, and bank information is sufficient. We do not review balances or transaction history. This way, your account can be verified quickly while your financial details remain private

Can I fund using Wise, Payoneer, or similar services?

No. Mesh Payments only accepts funding from official U.S. bank accounts in the name of your company. International transfers and third-party services are not supported. 

Can I fund my account using an international (i.e., non-U.S.) bank account?

Depending on your subscription with Mesh, you may be able to utilize international wire transfers. Please contact our team at [e-mail] for additional information. 

How do I upload documents, and what if I don’t have everything yet?

You’ll receive a secure link from Mesh Payments where you can easily upload your documents. This is the fastest and safest way to share files, as everything is encrypted and connected directly to your application. If you don’t have all the documents right away, just upload what you have and include a short explanation. In some cases, we may accept alternatives (for example, an IRS 147C letter instead of a CP 575). If later we need an additional document, our team will guide you, usually through the same secure link, and occasionally by email if that’s the most practical option.

Timing & Status

How long does verification take?

If all documents are complete and valid, verification usually takes 1–3 business days. Delays can happen if documents are unclear, expired, or if additional information is required. We will notify you immediately if follow-up is needed. 

Privacy & Security

Will my information be handled securely?

At Mesh Payments, protecting your information is one of our highest priorities. All documents you share are encrypted, stored securely, and used only for compliance verification. Access is restricted to authorized compliance staff, and files are kept only as long as required by law and our policies. We also work with trusted partners like Persona to handle identity verification safely. For full transparency, you can review Mesh’s Privacy Policy and Persona’s Privacy Policy to better understand how your data is protected.

Do you share my data with others?

At Mesh Payments, we handle your data with care and discretion. We only share it when absolutely necessary for core services, such as verifying documents or setting up your account, and always with trusted partners like Persona. Rest assured, your personal information is never used for marketing or anything unrelated to the service you signed up for. 

Complex Ownership

What if my company has multiple ownership layers?

Mesh Payments requests for an “Org Chart” that clearly shows every layer of ownership down to the ultimate beneficial owners, including company names and ownership percentages. This helps us understand who genuinely controls the company and ensures a smooth, compliant onboarding process, so we can approve your account without delay.

Countries & Sanctions

Are there country restrictions?

Mesh Payments complies with U.S. sanctions as part of our onboarding process. If your company, its owners, or executives are connected to a sanctioned jurisdiction, we conduct additional reviews to confirm everything aligns with compliance. To understand more, you can refer to Section 21: Prohibited Users and Prohibited Activities in our Terms of Use.

General

Is it possible to pause and resume completing the Persona form?

Yes, you can pause completing the form and resume it later. If you exit the page, re-entering through the same link will return you to the exact point where you left off. Please note that the link is valid for one week only, so you must complete the process within this timeframe.