What do I need to do to verify my Moov account? | Moov Support
What do I need to do to verify my Moov account?
Last updated 1 year ago
Account requirements depend on which type of account you have, as well as which capabilities you need.
To authorize transfers, you're only required to provide an individual's legal name, or a business's legal business name.
To access a wallet or send funds, individual and business accounts are also required to accept Moov's terms of service platform agreement and go through KYC verification.
| Individual account KYC | Business account KYC |
| Address | Address |
| Date of birth | Phone |
| Full SSN | EIN (SSN can be used for a sole proprietor) |
| Business type |
Additionally, business accounts need to provide business representative information. A business representative is someone with financial ownership or significant control over a business entity. A business account is required to provide at least one control officer, as well as report anyone with ≥25% ownership of the business.
Business accounts can also collect funds or access Moov's card issuing beta. These capabilities require you to go through Moov's underwriting process.
| Underwriting requirement | Description |
| Business description | A brief description of the business |
| Past processing statements | Processing statements from the last three months or the highest volume months if the business is seasonal |
| Merchant category code (MCC) | MCC identifying the industry of the business |
| Average transaction size | The average size of a transaction between this business and their customers |
| Average monthly transaction volume | The average monthly volume of sales between this business and their customers |
| Max transaction size | The maximum size of a transaction between this business and their customers |
| Volume by customer type | The percentage of customer volume split between business to business and consumer to business |
| Card volume distribution | The percentage of card volume split between ecommerce, card present, mail or phone, and debt repayment |
| Fulfillment | Details related to fulfillment including shipping duration and return policy |