Compliance and fund protection
2PayApp applies customer-verification and transaction-review procedures designed to meet applicable legal obligations and provider requirements.
The precise legal treatment and protection of customer funds depend on the service, currency and institution involved.
Customer verification
Onboarding may include:
Ongoing monitoring
Transactions may be reviewed to determine whether they are consistent with the customer's declared business model and approved account profile.
Supporting information may be requested for a payment, including invoices, contracts, settlement reports or an explanation of the underlying commercial activity.
Payment reviews
A payment may be delayed, rejected, restricted or returned where required by:
How customer funds are held
2PayApp is not a bank.
Depending on the service, customer funds and payment execution may involve regulated financial institutions or payment-service providers.
Customers should not assume that funds held through a payment platform have the same protection as deposits held directly with a bank.
Keeping account information current
Customers should promptly notify 2PayApp of material changes involving:
Review the applicable legal documentation
The applicable providers, roles and fund treatment are described in the relevant customer agreement and service documentation.