EU / UK Entity KYB / KYC Checks

Note: This article primarily applies to Ramp Administrators. Cardholders may find other articles in the Ramp overview section to be more applicable.

EU/UK entity KYB/KYC check

Reach out to your Account Manager or [email protected] if you operate in the European Economic Area or United Kingdom and are interested in participating.

Businesses with legal entities in those regions can complete a KYB/C check to issue GBP/EUR denominated cards to their employees in those regions and to enable additional products such as reimbursements and Bill Pay.

KYB/C for EU/UK

KYB/C overview

GBP eligibility

Customers who are eligible must have a legal entity registered with the government of the United Kingdom.

EUR eligibility

Customers who are eligible must have a legal entity registered with the government of one of the following countries:

• For EUR card issuing: Ireland, the Netherlands, Spain, Germany, France, or Italy.
  • You will only need to complete KYB for one of these entities, and then you will be able to issue EUR-denominated cards to all employees in any EUR country (except Andorra, Kosovo, Monaco, Montenegro, San Marino, Vatican City) or non-EUR European country (except Russia and Ukraine)
• For EUR reimbursements / Bill Pay: anywhere in the EU or Norway
  • You will only need to complete KYB for one of these entities

KYB/C submission

The KYB submission in Ramp must be completed by either someone with:

1. Significant control and management of your business
2. Or delegated authority by someone with significant control and management of your business

This person will have certain administrative rights with respect to the GBP/EUR card issuing, reimbursements, and/or Bill Pay and should be someone with an appropriate level of authority and trustworthiness.

KYB/C review

It will take 3 - 5 business days for our compliance team to review a KYB/C submission.

If the team determines there is a gap in your submission, you will be asked to resubmit. It is of utmost importance that your submission is complete and accurate to prevent delays.

KYB/C requirements

Entity information

Please have the following information and documents available:

• Legal entity name
• Registration document (confirming Directors & Shareholders)
• Directors document
• UBO (Ultimate Beneficial Owner) / PSC document showing ownership (if the onboarding entity is part of a chain of ownership, we’ll need an applicable document for both the onboarding entity and the ultimate parent entity to prove ownership top-down)
  • This document should be one of the following:
    • Operating Agreement
      • Must list the Members/owners and their % ownership
    • Cap Table
      • Must be current and certified
      • Must be signed by a company officer
      • Should list every current owner and their % equity
    • Beneficial Ownership Information (BOI) Report (FinCEN)
      • For U.S. entities: as of 2024, many U.S. companies must file a BOI report with FinCEN identifying beneficial owners
  • If you’d like, you can redact names and personal details for owners other than the highest-percentage owner and/or anyone who has significant control over the company as long as the ownership percentages are still visible for everyone listed
• Registered corporate address confirmation
• Tax ID / registration number
• Company name & address
• Business structure
• Company website / URL
• Merchant category
• Annual revenue
• Estimated headcount
• Entity phone number
• Wise ToS acceptance
• Trust Agreement (if applicable)
• Transfer Agreement (TA) – required
• CDD Evidence:
  • Estimated monthly transaction volume
  • Use case countries
  • Detailed use case description
  • Source of Wealth (SoW) information
  • SoW documents (audited financial statements preferred)
  • Business checks

Key individuals

You must submit information about key individuals of the entity. There are 3 required roles. Please see the definition of the 3 roles and the requirement for KYB submission.

Note: at least one UBO and one Director must be covered - no need to duplicate if the same person holds both roles. If nobody owns 25% or more of the shares, and nobody is listed as a person with significant control, then the UBO field should be populated with the director(s) that exercise the most control over the company.

Please multi-select all roles that an individual has for the entity. An individual can hold any permutation of the 3 roles, meaning an individual could be a:

• Business Owner, Business Director, and Business Executive
• or Business Owner and Business Director
• or Business Owner and Business Executive
• or Business Director and Business Executive
• or Business Owner
• or Business Director
• or Business Executive

You must also select one individual to hold the role of 'Representative', this will be the person nominated by the business to provide general information about themselves and the account.

Important Note: For the EUR KYB/C flow for Bill Pay and Reimbursements, the selected representative will have to complete liveness checks (a quick identity verification) during submission. If the representative is not a director or ultimate beneficial owner (UBO), they must provide proof that they are authorized to act for the business for KYB purposes. In this case, an authorization letter will need to be completed and signed.

Identity verification

The information and documents provided for the person submitting, all Directors, Shareholders, and UBOs will be verified through the following methods:

• Electronic verification (GBG or Onfido, using 1+1 or 2+2 checks)
• Trusted Partner checks (e.g. Edentiti)
• SSN verification (if applicable for U.S. individuals)

Directors (at least one required)

Please have the following information and documents available:

• Full name
• Date of birth
• Country of residence
• Nationality
• Title / Role
• ID (required if the Account Holder is not a Director)
• Address
• Address proof (e.g. utility bill)
• Email
• Phone

Shareholders / UBOs (at least one required)

Please have the following information and documents available:

• Full name
• Date of birth
• Country of residence
• Nationality
• Title / Role
• ID (for individuals, or company docs for SH companies)
• Home address
• Address proof (if required)
• Email
• Phone

Note: the same information above will also be collected for the person submitting.

Frequently asked questions

What Ramp role must the person complete the KYB/C check?

• Only Admins and Owners have access to manage entities and complete the KYB check in Ramp

Does the information I enter save?

• Yes, all information is saved
• You can come back to the form to complete later if you do not have all the information available

How long will it take for the KYB/C check to be reviewed?

• 3–5 business days
• If the team determines there is a gap in your submission, you will be asked to resubmit
• It is of utmost importance your submission is complete and accurate to prevent delays

What agreements are signed by the person completing the KYB/C check?

• Europe Payment Card Supplement
• Stripe Issuing Accountholder Agreement ( EU or UK )
• Stripe Privacy Policy
• Ramp Privacy Policy