KYB (Know Your Business) is an essential step to ensure the security and compliance of financial transactions. For CargoWALLET, KYB comes into play when users want to initiate a Pay Out—transferring funds from their Wallet to their designated bank account.

Why KYB for Pay Outs?

To maintain the highest standards of security and compliance, we work with a trusted payment providers. When users request a Pay Out, we need to verify their business identity by collecting KYB documents. This helps us ensure that funds are being transferred securely to the right destination.

What KYB Documents are Required?

You can refer to this article for What documents are required to complete my KYB process?

How to Submit KYB Documents?

We are currently working on the feature to upload the necessary documents from your CargoWALLET Management page. Meanwhile, you can submit your required documents to cargowallet@cargoai.co.

Processing Time

Your KYB process typically takes 5-7 business days, provided all required documents are submitted correctly and in full.

Understanding KYB is crucial for a seamless Pay Out experience. By complying with KYB requirements, we collectively contribute to a secure and trustworthy financial ecosystem.

If you have any questions or need assistance, our support team is here to help at support+wallet@cargoai.co.

We hope you find this article useful!