Business verification (KYB)

Before money moves, Ruul checks that your company is registered where you say it is and that the details you entered match that registration. The check is called KYB, short for Know Your Business. Every regulated payment company has to do it, so it isn’t a Ruul preference and it isn’t about you specifically.

You don’t apply for it. Ruul runs the check using the company details already on your account. There’s no separate form and nothing to submit.

When it happens

Verification runs around your first payment. Until then you can set up your account, add contractors and prepare a payment as normal.

Because it lands at that moment, it’s the one thing that can make a first payment take longer than later ones. Your contractor is emailed about it as well, so they know why their money hasn’t arrived and won’t chase you for it.

What Ruul uses

The details you entered when setting up your company:

• Company name
• Registered address: the country the company is registered in, city and zip code
• VAT, EIN or Tax ID, or a Trade Registration Number if your company doesn’t have one of those
• Company website

Make sure these are right. They’re what Ruul checks against, and the same details appear on the invoices issued for your payments. You can review and correct them on the Company tab. See your company details and payment emails.

If something is missing

Ruul contacts you directly. Depending on your company and the country it’s registered in, that may mean correcting a detail or sending an extra document.

There’s nothing to watch or chase in the meantime. If you’re waiting on a first payment and want to move it along, the fastest thing is to send whatever Ruul asked you for.