Also called: KYB
What Know Your Business is
KYB is a business verification review during payment onboarding. The provider checks that your company exists, understands what it sells, and identifies the people who own or control it. The review helps determine whether your business is eligible for a payment relationship and fits the category described in your application.
The information requested often includes your legal business name, any Doing Business As (DBA) name, registration details, tax ID such as an EIN, business address, industry, and expected transaction volume. A provider may also request ownership information, identification for owners or managers, and the bank account used for payouts.
Consistent business records help KYB reviewers verify your company and keep onboarding delays from interrupting payment acceptance.
What happens during KYB onboarding
The provider compares the details you submit with business records and other screening information. A mismatch between your legal name, registration record, tax ID, address, or payout account can send your application to manual review or require corrected documents. Clear records give reviewers fewer details to resolve.
Providers also assess what your business sells, where it operates, and the payments it expects to process. Sanctions screening is part of payment onboarding, and a possible match can prompt manual review before approval. KYB focuses on the business; KYC (Know Your Customer) checks the identity of an individual, including an owner or manager involved in the KYB review.
How KYB affects your costs and cash flow
KYB is not an interchange or card-network fee, and there is no standard KYB charge or universal KYB line on a processing statement. A provider's application or agreement defines any verification or onboarding charge, and its statement label is provider-specific. Compare the billed amount with the charge named in your agreement.
The direct business impact is access to payment processing. Accurate applications can clear automated review in minutes, while manual review can take several business days. After onboarding, unusual transaction volume or activity that conflicts with your stated business profile can lead to more document requests or payout restrictions during review.
What you can actually change
You cannot control a provider's screening decision, but you can make your application easier to verify. Use consistent records and describe the business activity and payment volume you actually expect.
- Match your application name, address, tax ID, and payout account to current business records.
- Prepare ownership and manager details, plus identity documents for the people the provider requests.
- Describe your products, sales channels, geography, and expected transaction volume accurately.
- Compare any onboarding or verification charge with the amount and terms in your agreement.
- Gather current records. Keep your registration details, tax ID, business address, ownership information, and payout account details together before applying.
- Explain your activity. Give the provider a clear description of what you sell and the transaction volume your business expects.
- Review billed charges. If an onboarding or verification amount appears on a statement, match its label and amount to your signed agreement.
Frequently asked questions
What documents do you need for KYB?
Providers commonly request your legal business name, registration details, tax ID, address, business activity, and payout account information. They may also request ownership details and identification for owners or managers. The exact document list depends on the provider and your business structure.
How is KYB different from KYC?
KYB verifies the business, its activity, and its ownership or control. KYC verifies an individual's identity. During KYB onboarding, the provider may use KYC checks for owners or managers connected to the business.
Does KYB cost money?
There is no standard network-set KYB fee. A provider's agreement determines whether it charges for verification or onboarding, and the statement label is provider-specific. Compare any billed amount with the fee terms in your agreement.