Know Your Client (KYC) Waiting Period for Payment Assistant

Know Your Client (KYC) is a regulatory standard in the financial industry that requires organizations to verify the identity of individuals before establishing financial relationships. For Payment Assistant, this means confirming your identity before your account setup is finalized.

This verification process is essential for:

• Risk assessment – Ensuring that transactions are secure and legitimate.

• Legal compliance – Meeting Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) requirements under U.S. law, including the Bank Secrecy Act and the USA PATRIOT Act.

Waiting Period

The KYC veification for Payment Assistant typically takes 3 to 5 business days. During this time, your submitted information is reviewed to ensure it meets compliance standards. Once verification is complete, your account setup is finalized and you can begin processing payments.