# 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 |