# Verification

Moov verifies the identity of individuals and businesses before enabling payment capabilities. This page explains the verification process and data requirements.

## [Overview](#overview)

Banking regulations require financial institutions to verify customer identities before enabling certain capabilities. This includes:

- **Know Your Customer (KYC):** Verifying individual identity
- **Know Your Business (KYB):** Verifying business identity and [beneficial ownership](/guides/accounts/requirements/business-representatives/)

All Moov accounts are checked against [OFAC](https://ofac.treasury.gov/) and sanctions lists to ensure they are not prohibited from conducting business in the United States.

Moov simplifies this process: request [capabilities](/guides/accounts/capabilities/reference/) for an account, collect the required data, and Moov automatically starts verification.

## [When verification is required](#when-verification-is-required)

| Scenario                              | Verification required? | Capability                                                              |
|---------------------------------------|------------------------|-------------------------------------------------------------------------|
| Storing money in a Moov wallet        | ✓                      | [wallet.balance](/guides/accounts/capabilities/reference/#wallet)       |
| Collecting money from another account | ✓                      | [collect-funds](/guides/accounts/capabilities/reference/#collect-funds) |
| Sending money to another account      | ✓                      | [send-funds](/guides/accounts/capabilities/reference/#send-funds)       |
| Receiving payouts                     |                        | [transfers](/guides/accounts/capabilities/reference/#transfers)         |
| Paying with a card or bank account    |                        | [transfers](/guides/accounts/capabilities/reference/#transfers)         |

## [Beneficial ownership](#beneficial-ownership)

For business accounts, Moov must verify both the business entity and its [business representatives](/guides/accounts/requirements/business-representatives/) (control officers and beneficial owners).

US state and federally regulated financial institutions are exempt from beneficial ownership requirements.

Under FinCEN's Customer Due Diligence rule, Moov must verify all individuals who own 25% or more of the business (beneficial owners) and at least one control officer. See the [business representatives](/guides/accounts/requirements/business-representatives/) guide for complete requirements.

**Before verification can start:**

1. Create all required [business representatives](/guides/accounts/requirements/business-representatives/)
2. Set `ownersProvided: true` on the account using the [PATCH endpoint](/api/moov-accounts/accounts/patch/)

## [Verification timing](#verification-timing)

Verification is performed asynchronously and typically completes within a minute. However, some businesses may take multiple minutes.

Most verifications complete automatically. If Moov cannot verify information automatically, you'll receive requirements for additional documentation through the capabilities API or Dashboard.

Subscribe to [capability webhooks](/guides/webhooks/webhook-events/#capabilities) to receive real-time updates on verification status:

| Event                  | Description                                                                     |
|------------------------|---------------------------------------------------------------------------------|
| `capability.requested` | Capability has been requested                                                   |
| `capability.updated`   | Capability status changed (e.g., requirements fulfilled, verification complete) |

## [Required verification data](#required-verification-data)

The tables below list all verification data fields and their API paths. Moov may request additional documents to complete verification—these will appear in the Dashboard and the [capabilities API](/api/moov-accounts/capabilities/list/).

### Business profile

Set on `profile.business` via the [accounts API](/api/moov-accounts/accounts/)

| Field               | API path            | Status      | Notes                                                                                                  |
|---------------------|---------------------|-------------|--------------------------------------------------------------------------------------------------------|
| Legal business name | `legalBusinessName` | Required    |                                                                                                        |
| Doing business as   | `doingBusinessAs`   | Optional    |                                                                                                        |
| Business type       | `businessType`      | Required    |                                                                                                        |
| Address             | `address`           | Required    | Must be a physical location; no PO boxes or registered agents                                          |
| Phone               | `phone`             | Required    |                                                                                                        |
| EIN                 | `taxID.ein.number`  | Required    | SSN can be used for sole proprietors                                                                   |
| Description         | `description`       | Conditional | Required if `website` not provided                                                                     |
| Website             | `website`           | Conditional | Required if `description` not provided                                                                 |
| Industry            | `industry`          | Required    | See [industries endpoint](/api/enrichment/form-shortening/industries/get/); or use `industryCodes.mcc` |
| MCC code            | `industryCodes.mcc` | Conditional | Required if `industry` not provided                                                                    |
| Owners provided     | `ownersProvided`    | Conditional | Required for corporations, partnerships, and LLCs                                                      |
| Terms of Service    | `termsOfService`    | Required    | Set on the account object                                                                              |

View requirement IDs for capabilities API

| Field               | Requirement ID                      |
|---------------------|-------------------------------------|
| Legal business name | `business.legalname`                |
| Doing business as   | `business.dba`                      |
| Business type       | `business.business-type`            |
| Address             | `business.address`                  |
| Phone               | `business.phone`                    |
| EIN                 | `business.ein`                      |
| Description         | `business.description`              |
| Website             | `business.description-or-website`   |
| Industry            | `business.industry`                 |
| MCC code            | `business.industry-code-mcc`        |
| Owners provided     | `business.indicate-owners-provided` |
| Terms of Service    | `account.tos-acceptance`            |

### Representative(s)

Set via the [representatives API](/api/moov-accounts/representatives/)

For details on control officers vs beneficial owners, see [Business representatives](/guides/accounts/requirements/business-representatives/).

| Field                | API path                               | Status      | Notes                                                              |
|----------------------|----------------------------------------|-------------|--------------------------------------------------------------------|
| First name           | `name.firstName`                       | Required    |                                                                    |
| Last name            | `name.lastName`                        | Required    |                                                                    |
| Email                | `email`                                | Required    |                                                                    |
| Phone                | `phone`                                | Required    |                                                                    |
| Address              | `address`                              | Required    | Must be a residential address; no PO boxes or commercial addresses |
| Date of birth        | `birthDate`                            | Required    |                                                                    |
| Full SSN             | `governmentID.ssn.full`                | Required    |                                                                    |
| Is controller        | `responsibilities.isController`        | Required    | At least one representative must be a controller                   |
| Job title            | `responsibilities.jobTitle`            | Conditional | Required if `isController` is `true`                               |
| Is owner             | `responsibilities.isOwner`             | Conditional | Required if ownership ≥25%                                         |
| Ownership percentage | `responsibilities.ownershipPercentage` | Conditional | Required if `isOwner` is `true`                                    |

View requirement IDs for capabilities API

| Field                | Requirement ID                        |
|----------------------|---------------------------------------|
| First name           | `representative.{uuid}.firstname`     |
| Last name            | `representative.{uuid}.lastname`      |
| Email                | `representative.{uuid}.email`         |
| Phone                | `representative.{uuid}.mobile`        |
| Address              | `representative.{uuid}.address`       |
| Date of birth        | `representative.{uuid}.birthdate`     |
| Full SSN             | `representative.{uuid}.ssn`           |
| Is controller        | `representative.{uuid}.is-controller` |
| Job title            | `representative.{uuid}.job-title`     |
| Is owner             | `representative.{uuid}.is-owner`      |
| Ownership percentage | `representative.{uuid}.ownership`     |

For additional requirements beyond verification, see our [underwriting](/guides/accounts/requirements/underwriting/) guide.

## [Troubleshoot verification](#troubleshoot-verification)

The business name could not be verified.

Double check that the provided name is the full legal business name and there are no typos. If everything is accurate, but the name cannot be verified, Moov will require one of the following: EIN letter from the IRS or Articles of Incorporation. The documents provided must list the name as entered into Moov's system.

The business address could not be verified.

Double check the address was entered correctly and that the business representative's residential address was not used as the commercial business address. Commercial addresses cannot be a PO box, commercial mailing receiving agency, or registered agent.

The business has a PO box, commercial mailing receiving agency, or registered agent listed as the commercial address.

Commercial business addresses cannot be a PO box, commercial mailing receiving agency, or registered agent. The address must be a valid, physical location where the business operates.

Moov can't verify the TIN or EIN.

Double check the EIN is correct and the legal business name exactly matches IRS records (including punctuation and abbreviations). If everything is accurate, and Moov returns a tax ID mismatch, you will need to upload one of the following documents showing the EIN and legal name: EIN confirmation letter from the IRS or a tax document (for example, a 1099).

The business does not have past processing statements.

Moov needs to understand the volume of transactions the business intends to process. You will need to provide the average number and dollar volume of transactions you will be processing monthly and the average dollar amount of individual transactions.

Do I need to run my users through KYC again if I am switching to Moov?

Yes. KYC requirements pertain to each relationship an account holder has with the sponsor bank, so we are required to perform these checks again.

How long does verification take?

It depends. Automatic verification can take less than a second but if there is an error or the data requires manual review, the process may involve additional information or documentation and take up to several days.

Are there special requirements for business representatives?

Yes. See our [business representative](/guides/accounts/requirements/business-representatives/) guide for more information.