Business Verification at Weel | Know Your Business

Why we ask you to verify your business

Three reasons we ask you to keep your details current.

A legal requirement

Anti-Money Laundering and Counter-Terrorism Financing laws require every financial service provider to verify its business customers before they can transact. We ask you to complete KYB because the law requires it, not because of anything about your account.

Protects the financial system

These checks exist to stop criminals moving the proceeds of crime or funding terrorism through the financial system. Verifying your business is part of keeping that system safe.

Keeps your account active

Completing KYB is what unlocks full account access. If it's not completed in time, your account moves to a paused state: no logins, no card payments, until verification is done.

Business verification, explained.

What is KYB?

KYB stands for Know Your Business, an anti-money laundering and counter-terrorism financing (AML/CTF) obligation. It's a periodic check where we confirm your business details are accurate, current and on file correctly.

Why do I need to update my business information?

Regulatory rules require us to hold accurate, current business information for every customer. Updating your details keeps your account secure and protects your business from fraud.

How do I start the business verification process?

If you hold the Owner role for the business account, log in to your Weel account and go to Settings > Business Details. Select 'Verify your business information' and follow the prompts. If you don't hold the Owner role, ask your account's Owner to complete this step.

Who can I contact for help with the business verification process?

Contact our support team using the link at the end of this page.

How often do I need to complete the business verification process?

We need you to update your business details whenever they change. We'll also ask you to confirm your information periodically, even if nothing has changed, to meet our ongoing regulatory obligations.

What information do I need to provide?

You'll need to provide updated business details, such as contact information, ownership structure, and supporting legal documents. We'll outline the exact requirements during the verification process.

What happens if I don't complete the business verification process?

Not completing the business verification process within the given timeframe pauses your account. Update your information promptly to keep uninterrupted access to your account and services.

What does it mean when my account is paused?

If your account is paused, access is restricted until verification is complete. No one on the account can log in, and payments or card transactions won't go through until it's unpaused.

Keep your business secure and compliant.

Why we ask you to verify your business

A legal requirement

Protects the financial system

Keeps your account active

Business verification, explained.

Ready to finish your business verification?