What onboarding is actually checking.

PaySquirl opens programmes for companies. The file is an MSB onboarding file, not a consumer current-account application.

Usual items

• Juridique name, registration and registered office.
• Ownership and directors / controllers.
• Description of activity and why payments are required.
• Expected corridors, currencies and volumes.
• Source of funds and, where relevant, source of wealth for controllers.

Recipients

People paid from wallets or mass-payments are collected by the business client. Their screening follows the programme. They are not invited to open a personal PaySquirl account on their own.

Why extra questions appear

Rails, partners and jurisdictions impose their own checks. A corridor that looks simple on a marketing page can still require more documents before it is switched on.

Related: Embarquement & compliance.

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