As a regulated payment institution, our KYC (Know Your Customer), AML (Anti-Money Laundering), and CTF (Counter-Terrorism Financing) obligations require us to collect a number of documents as part of our onboarding process.

These include:

For companies:

  • iBanFirst signed contract
  • Proof of incorporation
  • Shareholder structure chart identifying ultimate beneficial owners (UBOs), dated and signed
  • Main bank account details

For UBOs and iBanFirst platform users:

  • A valid identity document

What is a UBO?

An ultimate beneficial owner (UBO) is:

  • A natural person who, directly or indirectly, owns or controls a company, with more than 25% of company share or voting rights, or
  • A natural person on behalf of whom a transaction is being conducted

What is a valid identity document?

Identity documents include:

  • Passeports
  • National identity cards
  • Driving licenses (except for French nationals)

Identity documents must be valid (ie, expiry date has not yet been passed).

Identity documents must have a good quality (eg, document is visible in full, image is sharp, there are no folds or scratches, etc.)

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