Business verification is required when you start using Forwardly's payment features. If you attempt to:
- Send a payment;
- Request a payment; or,
- Request or authorize Auto Payments;
Then you'll be prompted to complete business verification, and verification prompts will begin appearing in your business profile settings. You can then continue directly into verifying your business and complete the required steps to access payment features.
Why do I need to verify my business?
Banking is a heavily regulated sector with mandatory requirements from governmental authorities necessitating banking and other financial institutions to hold full information about their customers, regardless of whether they are individuals or businesses
Faster payments, including those Forwardly offers, are a game-changer for small businesses, enabling instant transfers between accounts. Because of this, Forwardly requires verification of beneficial owners and businesses in order to complete payments for them. Verification is also a vital step to safeguard the financial interests of all of our users and to prevent fraudulent activity.
| Tip: Have questions or concerns about business verification? Let us know. |