Article facts
| Field | Visible value |
|---|---|
| Who is checked | The company, its directors, authorised representatives and beneficial owners |
| Why | Legal obligations, provider requirements, compliance policy |
| When | At onboarding and on an ongoing basis |
| Does verification guarantee approval? | No |
| Is a request an accusation? | No |
| Guaranteed review time | None published |
| Last reviewed | 2026-09-09 |
What the onboarding review can include
- company verification;
- identity verification;
- director and beneficial-owner checks;
- sanctions screening;
- politically exposed person screening;
- source-of-funds review;
- source-of-wealth review where applicable;
- adverse-information checks;
- assessment of expected account activity.
The depth of the review is proportionate to the company: its structure, industry, jurisdictions, counterparties and expected payment activity.
Why a company that is already regulated is still checked
A customer being licensed, listed or audited elsewhere does not remove the obligations that apply to 2PayApp and to the institutions involved in providing the service. The checks are performed on 2PayApp's own account, not delegated to another party's opinion.
Why the checks continue after approval
The account profile approved at onboarding is a description of expected activity. Ongoing monitoring exists to determine whether transactions remain consistent with that description. This is covered in Why are checks repeated after approval?.
What verification does not do
- It does not guarantee that the application will be approved.
- It does not guarantee any particular currency, rail, identifier or limit.
- It does not mean the company is suspected of wrongdoing.
- It does not have a published guaranteed completion time.
Frequently asked questions
Does submitting documents mean the account is open? No. Approval follows the compliance review, and the account becomes operational once the required agreements and onboarding steps are complete.
Why do you need information about the owners? Ownership and control are part of the legal requirement and of the risk assessment.
Our structure is complex. Is that a problem? Not automatically. More complex industries, ownership structures and payment flows may require enhanced review and additional documentation, and are assessed on their individual facts.
Can you tell me the exact criteria? Not in full. Some risk and monitoring detail cannot be disclosed. What can be explained is what is needed from you.
This article is explanatory. The applicable customer agreement, policies and legal obligations prevail if they differ from it.