1. Business Documents (KYB)
To verify a business entity, specific documents are mandatory. Please ensure you provide the correct document types as listed below.Mandatory Requirements
The following documents are explicitly required for all business verifications:| Document Type | Condition | Code | Description |
|---|---|---|---|
| Certificate of Incorporation / Certificate of Registration | Required | certificate_of_incorporation, certificate_of_registration | Document proving your company is legally registered in its country of incorporation. |
| Articles of Association / Memorandum of Association | Required | article_of_association | Articles of Association (AoA) or Memorandum of Association (MoA) - ie documents highlighting the company’s rules, regulations, relationship to outside world etc is required. |
| Tax Registration | Required | ein_letter, tax_certificate | Official IRS letter assigning the Employer Identification Number (US) or any other valid form of Tax Registration / Certificate (non-US) |
| Shareholder Registry | Required | shareholder_registry | Comprehensive record of all equity holders, their ownership percentages, and any special rights or restrictions associated with their holdings. |
| Proof of Registered Address | Required | proof_of_registered_address | Document that confirms your company’s registered legal address, as listed in official company registry filings (e.g., Certificate of Incorporation, government-issued tax notice, registry extract). |
| Proof of Authorized / Operating Address | Required | proof_of_operating_address | Document (dated within last 90 days) showing your company’s operating location, such as a utility bill, lease agreement, vendor invoice or a bank statement. |
| Terms of Service | Required | terms_of_service | Conduit’s Terms of Service acknowledged or signed by the end customer is required to be uploaded for account opening. |
| Bank Statements | Required | bank_statement, proof_of_funds | Company’s three most recent bank statements, covering the last 90 days. In lieu of Bank statements, Portfolio statements can be added under code proof_of_funds covering the last 90 days |
| Authorization to act on behalf of Company | Required | corporate_resolution, power_of_attorney | Please upload one of the following documents to confirm that the person completing this application is legally authorized to act on behalf of the company: - Board Resolution appointing the authorized representative. - Power of Attorney (POA) granting signing authority. - Partnership or Trust Agreement (PPTA) or other official document outlining appointment rights. - (If authority is clearly stated in the Articles of Association or Operating Agreement, you may re-upload the AOA). |
| Proof of Regulatory Authorization or License | Required if isFinancialInstitution is yes | financial_regulatory_license | Please upload documentation confirming your company’s regulatory status (e.g., regulatory license, operating license, registration certificate, or approval letter). This is required if your company answered “Yes” to being a regulated entity. Acceptable formats include PDFs or images of licenses issued by government or regulatory authorities. Also acceptable partnership agreements with a licensed company and legal opinions on the lack of a license. |
| Flow of Funds | Required if isFinancialInstitution is yes | flow_of_funds | Please upload a diagram or document outlining the entire flow of funds for your customers and company. |
| Independent AML or Compliance Program Audit Report | Required if isFinancialInstitution is yes | independent_aml_audit_report, compliance_audit_report | Please upload your independent AML or Compliance Program Audit reports if you’re a regulated entity or a financial institution. If you answer yes to isFinancialInstitution this is required. |
| Supporting documentation for institutional investors | Required if hasInstitutionalInvestors is yes | institutional_investors_shareholder_registry , cap_table | Please upload documentation verifying the ownership of any institutional investors (VC, PE, or other investment funds) holding 5% or more equity in your company. Acceptable documents include: Official shareholder registry or cap table showing investor names and ownership percentages, Investment or subscription agreements related to the funding round, Other legal documentation confirming institutional investor shareholding |
Business Onboarding Form
A comprehensive onboarding form is required to be filled out by the end customer. This form is used to assess the risk of the account and the customer.Business Classification
| Question | Description | Condition | API Field | Options / Notes |
|---|---|---|---|---|
| What is your company’s legal structure? | Choose the legal form of your business. | Required | businessEntityType | LLC, Corporation, Partnership, Sole Proprietor, Foundation, Cooperative, Government Entity, Nonprofit, Trust, Other |
| When was your company legally incorporated or registered? | Enter official date from formation documents. | Required | registeredDate | |
| What industry best describes your company’s core operations? | Helps assess business model and risk category. | Required | industry | General Commercial/Operating Entity,Consulting/Advisory,Accounting and Auditing,Bank/Deposit-Taking Institution, Broker-Dealer/Securities Firm, Asset Manager/Investment Advisor, Private Investment Fund, MSB/Payments Company, Lending Platform/Credit Provider, Credit Card Companies (Issuers & Merchant Services),Marketplace/Platform Operator,Insurance Company, Legal Services,Government Entity/Public Sector, Non-Profit/Charity, Holding Company/Family Office/Investment Vehicle,Trust and Company Service Providers (TCSPs), Casino/Gambling Operator, Real Estate Company, Precious Metals/Stones, Art & Antiquities,XF,Crypto/Digital Asset Business (VASP),Travel Agency/Tour Operator, Crowd Funding Platform,Forex/Currency Exchange Provider, Import/Export/Trading Company, Freight Forwarding/Shipping Company,Pharmaceutical/Healthcare Company,Construction/Development Firm,Automobile Dealerships, Informal Remittance Systems (Hawala, etc),OtherIf Other = true, please specify in field |
| Does the company have a registered trade name (DBA)? | Trade name used different from legal name. | Optional | hasDBA | |
| What is the DBA Name? | Please provide the registered DBA name | Required if hasDBA = true | businessTradeName | |
| Is your company publicly listed on a recognized stock exchange? | Whether your company is publicly listed. | Required | isStockExchangeListed | |
| Which StockExchange? | Which StockExchange (s) is the company listed in? | Required if isStockExchangeListed = true | stockExchange | NASDAQ (U.S.) , NYSE (New York Stock Exchange) , LSE (London Stock Exchange), TSX (Toronto Stock Exchange), SIX Swiss Exchange, Euronext (Paris, Amsterdam, Brussels) , Deutsche Börse (Frankfurt) , HKEX (Hong Kong Exchange) ,SGX (Singapore Exchange) ,ASX (Australian Securities Exchange) , TSE (Tokyo Stock Exchange) ,Other |
| What’s the ticker symbol? | What’s the company’s ticker symbol as denoted in the stockexchange (s) | Required if isStockExchangeListed = true | tickerSymbol | |
| What’s your business email address? | Primary business contact email. | Required | email | |
| What’s your business website? | Company website URL. | Required | website | Valid HTTP/HTTPS URL |
| What’s your business phone number? | Primary business contact phone number. | Required | phone | |
| What is your company’s tax identification number? | Tax ID or EIN number. | Required | taxIdentificationNumber | |
| What is your company’s business entity ID? | Official business registration or entity identifier. | Required | businessEntityId | |
| Is your company a subsidiary? | Whether your company is a subsidiary of another entity. | Required | isSubsidiary | |
| Is your company currently operating? | Whether your company is currently in operation. | Required | isOperating | |
| What is your company’s registered address? | Official registered legal address. | Required | registeredAddress | Address object with streetLine1, city, state, postalCode, country |
| What is your company’s operating address? | Primary physical operating address. | Required | operatingAddress | Address object with streetLine1, city, state, postalCode, country |
| What is your company’s mailing address? | Mailing address if different from registered/operating address. | Optional | mailingAddress | Address object |
| What is your NAICS code? | North American Industry Classification System code (US businesses only). | Required for US-based businesses Optional | naicsCode | |
| How is your entity taxed? | Tax classification of your entity. | Optional | entityTaxedAs | S-Corporation, C-Corporation, Partnership |
| What is your tax classification? | Additional tax classification information. | Optional | taxClassification |
Business Activity & Risk Profile
| Question | Description | Condition | API Field | Options / Notes |
|---|---|---|---|---|
| Terms of Service | Passing the acceptance of Conduit’s Terms of Service (ToS) programmatically. There are two explicit requirements: 1. Explicit MTA acceptance - Covers our Terms of Service + Privacy Policy - Includes a timestamp 2. Customer identification / authentication context - IP address - Confirmation that the user was authenticated at time of acceptance | Required | terms_of_service | date (string): ISO 8601 datetime of acceptance; Cannot be a future date. ipAddress (string): IP address of the user accepting terms; isAuthenticated (boolean): Whether the user was authenticated when accepting |
| What type of entity is your company? | The type of financial entity if applicable. | Optional | entityType | Bank, Insurance Company, Securities Broker or Dealer, Investment Company or other Passive Investment Vehicle, Trust Company, Hedge Fund,Other |
| What is the purpose of this account with Conduit? | Intended use case(s). | Required | accountPurpose | Payroll/ Employee Payouts, Payments for Goods or Services, Marketplace/ Gig Worker Payouts, Internal Treasury or FX Management,Disbursement of Customer Funds |
| Please describe the goods or services you intend to pay for using this account | Give a short description of what kind of payments your customer internds to make. | Required if accountPurpose = Payments for Goods or Services | accountPurposeDescription | |
| Describe your business activities | Description of your business operations, core products, services, and customer base. | Required | businessDescription | |
| What products or services does your company offer? | Choose the categories that reflect your business model or service offering to end-users. | Required | productsOrServices | - Technology/SaaS Provider, - Sale of Goods/Non-Financial Services, - Import/Export, - Wholesale/Distribution, - Investment Advisory, - Digital Wallets/Stored Value, - Custody, - Lending/Credit, - Escrow/Settlement Services, - Crypto Exchange or Trading, - Cross-Border Payments, - NFT/DeFi/Web3, - Foreign Exchange/Currency Conversion, - Card Issuance & Merchant Services, - Brokerage/Trading Platform, - Asset Management/Fund Services, - Precious Metals/High-Value Commodities, - Marketplace or Platform Operator, - Real Estate/Title/Property Escrow, - Crowdfunding/Capital Raising Platforms, - Trust and Company Services (TCSP) |
| Does your company operate in or have exposure to high-risk industries? | Please indicate any involvement or exposure, even if this is not your primary line of business. | Required | highRiskIndustry | - Third-party / OBO payments - Gambling / Betting - Adult Services / Content - Cannabis / Regulated Substances - NPO / Charity / Political - Cash-intensive Retail - Weapons / Arms - Shell Company - Offshore Structure - Precious Metals / Stones - Art/ Antiques/ High-Value Collectibles - Forex/ Currency Exchange (unlicensed or offshore) - Trust & Company Services (TCSPs) |
| Please provide additional details about your business activities in the selected high risk industries | Include relevant context such as the type of activities (e.g., online gambling, cash-based retail), the percentage of your overall business involved, and the jurisdictions where these activities occur. | Required if highRiskIndustry value != null | highRiskIndustryDetails | |
| Is your company regulated, licensed, or providing financial services? | Includes money transmission, lending, asset management, etc. | Required | isFinancialInstitution | Yes, No |
| What is the name of your regulatory authority? | Regulatory body that licenses or regulates your company. | Required if isFinancialInstitution is true | regulatorName | - FinCEN (Financial Crimes Enforcement Network) - FCA (Financial Conduct Authority) - FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) - Local FIUs + National regulators (e.g., BaFin, ACPR, CNMV) - MAS (Monetary Authority of Singapore) - AUSTRAC (Australian Transaction Reports and Analysis Centre) - FSA (Financial Services Agency) - FINMA (Swiss Financial Market Supervisory Authority) - HKMA (Hong Kong Monetary Authority) - FSRA (Financial Services Regulatory Authority) - CNBV (Comisión Nacional Bancaria y de Valores) - BACEN (Central Bank of Brazil) - RBI (Reserve Bank of India) - FSCA (Financial Sector Conduct Authority) - SEC Nigeria (Securities and Exchange Commission - Nigeria) - CBK (Central Bank of Kenya) - BSP (Bangko Sentral ng Pilipinas) - UIAF (Unidad de Información y Análisis Financiero) - UIF Argentina - BNM (Bank Negara Malaysia) - OJK (Financial Services Authority of Indonesia) - SECP (Securities and Exchange Commission Pakistan) - BoG (Bank of Ghana) - MASAK (Financial Crimes Investigation Board) - Superintendencia de Bancos - FSC (Financial Services Commission) - DFSA (Dubai Financial Services Authority) - COAF – Conselho de Controle de Atividades Financeiras (Financial Intelligence Unit for AML) - FIU-IND (Financial Intelligence Unit – India) - CBN (Central Bank of Nigeria (regulator for banks and payments institutions) - FRC Kenya (Financial Reporting Centre) - AMLC (Anti-Money Laundering Council - Philippines) - FIC (Financial Intelligence Centre - Ghana) - UIF (Unidad de Inteligencia Financiera) - CIMA (Cayman Islands Monetary Authority) - SBP (State Bank of Pakistan) - Other |
| Please List provide “other” Regulatory Body | If your regulatory body is not listed in the options, please submit the name of the Regulator as a text field here. | Required if <previous question value> = other | regulatoryAuthorityOther | |
| License Number or Registration ID | Please provide the offiical registered license number or Registration ID provided by your Regulatory body or authority. | Required if isFinancialInstitution is true | regulatoryLicenseNumber | |
| Does your company have an independent AML or Compliance Program Audit? | Boolean question about independent audit report | Required if isFinancialInstitution is true | hasIndependentAmlAuditReport.answer | Boolean (Yes / No) |
| Please explain why an independent AML or Compliance Program Audit has not been conducted | Free-text explanation field | Optional - displayed if hasIndependentAmlAuditReport.answer = false | hasIndependentAmlAuditReport.explanation | String / free-text (optional) |
| Please confirm if you are intending to obtain one and provide the expected timeline | Free-text timeline field | Optional - displayed if hasIndependentAmlAuditReport.answer = false | hasIndependentAmlAuditReport.timeline | String / free-text (optional) |
| Do you certify that the financial accounts being opened will be used exclusively for your company’s own treasury management and operational purposes, and will not be used to process or hold funds on behalf of third parties or customers, unless expressly approved in writing by the financial institutions opening the accounts? | By selecting “Yes”, you are making a legally binding attestation that: The account will only be used for your company’s own business operations, cash management, and payment of your own vendors, employees, and operational obligations. You will not process or hold funds for third parties, customers, or any other entities without prior written approval from the financial institution opening the account. You understand that any breach of this attestation may result in immediate suspension or closure of the account, potential reporting to regulatory authorities, and other legal consequences. | Required | certifiesOwnTreasuryUse | Boolean (true or false) |
| Do you operate or transact on behalf of customer accounts, clients, vendors, contractors, or any other third parties?? | Includes client funds, vendor payouts, escrow, pooled accounts. | Required | hasNestedFlows | |
| Flow of Funds | For compliance purposes, please describe your company’s fund flow – how funds are collected, processed, and disbursed across relevant accounts or partners. Financial institutions must upload a Flow of Funds document (see KYB Documents table above). | Required if isFinancialInstitution is false | flowOfFundsDescription | String / free-text. Required for non-financial institutions. Financial institutions must upload a document instead (see KYB Documents table). |
| Source of funds (primary driver) | Where funds flowing through the account primarily come from. | Required | sourceOfFunds | - Revenue From Products/Services - Venture Capital (VC)/Private Equity - Friends & Family Funding - Personal Savings of Founders - Loans or Credit Facilities - Grants or Government Funding |
| Please briefly describe the types of accounts or flows you manage | Required if hasNestedFlows is yes | nestedFlowDescription | String / free-text | |
| In which countries do you anticipate conducting 20%+ of your business? | Key geographic business activity. | Array of ISO 3166-1 alpha-3 country codes (e.g., USA, GBR, FRA) Required | keyGeographicBusinessCountries | |
| Does your company have an advisor? | Whether your company has a financial or business advisor. | Optional | hasAdvisor | |
Transaction Volume, Financials & Operations
| Question | Description | Options / Notes | API Field | |
|---|---|---|---|---|
| Anticipated average monthly transaction volume (USD) | Estimated monthly flow of funds through Conduit by payment method. | Required | anticipatedMonthlyVolume | |
| Expected average daily balance (USD) | Estimated average daily balance maintained in the account. | Optional | expectedAverageDailyBalance | |
| Estimated number of transactions per month | Approximate monthly transaction count. | Required | anticipatedTransactionsVolume | |
| Will your company use blockchain wallet addresses? | Whether crypto or blockchain addresses are used in fund flow. | Required | usesBlockChainWallets | |
| Blockchain Wallets | List of blockchain wallet addresses (deposit, withdrawal, settlement) your company expects to use. Each entry includes wallet address, platform type (exchange/custodian/platform/self_custodied), and platform name. | Required if usesBlockChainWallets is true | blockchainWallets ) | |
| Are you currently generating revenue? | Revenue status. | Required | isGeneratingRevenues | Boolean (Yes / No) |
| If yes, revenue covers: | Revenue coverage as percentage of expenses. | Required if isGeneratingRevenues = true | revenueCoverage | - More than 50% of expenses and growing- Between 50% and 25% of expenses and growing- Less than 25% of expenses |
| Please provide a brief explanation | Explanation for low revenue coverage (e.g., upcoming fundraise, cash injection expected, cost-cutting plans). | Required if revenueCoverage = Less than 25% of expenses | revenueCoverageExplanation | String / free-text |
| Does your company have institutional investors (VC or PE)? | Any VC, PE, or institutional investor owning ≥5%. | Required | hasInstitutionalInvestors | |
| How many months of financial runway do you currently have? | Duration company can operate without new capital. | Required | runwayDurationMonths | Options are: Less than 6 months, 6-12 months, More than 12 months, N/A due to profitability or no burn |
| Please provide a brief explanation for financial runway | Eg: upcoming fundraise, cash injection expected, cost-cutting plans | Required if runwayDurationMonths is either Less than 6 months or 6-12 months | runwayDurationExplanation | |
| What is your company’s current cash on hand? | Estimated total liquid cash reserves (USD equivalent). | Optional | cashOnHandUsd |
2. Control Person Documents (KYC)
Verification is required for each control person associated with the business.Identity Verification
Each control person must submit at least one of the following valid identity documents:national_idpassportvisaresident_carddriver_license
Proof Of Address
In addition, each control person MUST also provide aproof_of_address document dated within the last 90 days, such as a utility bill, lease agreement, vendor invoice, or bank statement.
Role-Based Requirements
Additional documentation and verification steps may be required based on the control person’s specific role. Authorized Representatives: If a control person is designated with the roleauthorized_representative, the following additional requirements apply:
- Liveness Check: A liveness check is required to verify the physical presence of the authorized representative.
Liveness Check are required in addition to the standard identity document for Authorized Representatives.
3. Non-US Onboarding Requirements
For businesses and control persons based outside the United States, specific additional information is required to ensure compliance with international regulations.Business Requirements
- US Bank Account Status: You must declare whether the business has an existing US bank account.
- If No: You must disclose if the business has ever been denied a US bank account (
deniedUsBankAccount). If yes, an explanation is required.
- If No: You must disclose if the business has ever been denied a US bank account (
- Audit History:
- Business: Must disclose any history of tax audits, regulatory sanctions, or law enforcement actions (
businessAuditHistory). If yes, an explanation is required. - Owners: Must disclose any personal audit or sanction history for owners, directors, or officers (
ownersAuditHistory). If yes, an explanation is required.
- Business: Must disclose any history of tax audits, regulatory sanctions, or law enforcement actions (
- PEP Involvement: Must disclose if any owner, director, or officer is a Politically Exposed Person (PEP) (
pepInvolved). If yes, detailed explanation is required.
Control Person Requirements
- Tax Residency: The
taxResidencyCountryfield is mandatory for all non-US control persons. - SSN Restrictions: Non-US control persons must not provide a Social Security Number (SSN).
- Immigration Status: The
immigrationStatusfield must not be populated for non-US control persons.
Ensure that all country codes provided (e.g., for
taxResidencyCountry, nationality) are valid ISO 3166-1 alpha-3 codes (e.g., GBR, FRA, DEU).