FAQ
Frequently asked questions about business onboarding and KYB
Frequently Asked Questions
Ownership & Shareholders
What if a director owns less than 25%?
If a director owns less than 25% and is not a control person (hasControl: false), they do not need to be listed as a UBO. However, they should still be listed with isDirector: true if they serve on the board.
Can the director completing KYB skip the Power of Attorney?
Yes. If a director or officer is completing the KYB, mark them with isSigner: true and hasControl: true in the shareholders array. This indicates they have authority to act on behalf of the company.
What if my company is owned by another company?
You must provide ownership documentation for the parent company as well, continuing up the chain until you reach individual UBOs who own 25% or more.
How do I add shareholders to a business customer?
Shareholders are added via a dedicated endpoint after creating the business customer:
Note: Shareholders are not separate customer entities - they are nested data within the business customer record.
Documents
Is Corporate Structure a document upload or just fields?
Both. You must submit shareholder information via the API (names, ownership percentages, etc.) AND upload a supporting document that verifies the ownership structure (cap table, shareholders' agreement, etc.).
What proof of address documents do you accept?
We accept:
- Bank statements (within 90 days)
- Utility bills (electricity, gas, water, internet - within 90 days)
- Government-issued letters (within 90 days)
- Office lease agreements (current, can be older than 90 days)
We do NOT accept: PO boxes, virtual office addresses, mobile phone bills, or documents not addressed to the business.
What file formats are supported?
- JPEG, PNG, PDF, WebP, HEIF
- Maximum file size: 10MB
- Documents must be base64 encoded
Support
For questions about KYB requirements or document submissions:
- Email: compliance@swipelux.com
- Documentation: https://docs.swipelux.com