Difference between Unverified & Verified customer?


(Riyas M) #1

I want to know Difference between Unverified & Verified customer


(Spencer Hunter) #2

@Riyas_M, With a transfer of money, at least one party must complete the identity verification process, either the sender or the receiver. It’s your decision about which party completes this process, based on your business model, and you may want to have both parties complete the identity verification process. In cases where a Customer is sending funds to or receiving funds from your account, the Customer can remain Unverified because your account is already verified. However, if you need to transfer funds between your Customers, at least one of them will need to be Verified.

For more information on white label account types, reference the account types resource article.