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What is KYB and why do I have to go through this process?

When you activate the become.1 Card for your company, you will automatically come across the term KYB. In this article, we will explain in simple terms what this means and why this check is legally required.

🔍 What does KYB actually mean?

KYB stands for "Know Your Business". It is a legally mandated identity and security check for corporate clients.

Just as banks are required to verify a person's identity when opening a private checking account (known as KYC / Know Your Customer), European anti-money laundering regulations require us to thoroughly verify every company before activating payment cards.

🛠 What exactly is checked during the KYB process?

The main goal of the verification is to ensure that your company is a legitimate business and not a shell company. Our partner bank verifies the following details in the background:

  • Company details: Official business address, business registration, or an extract from the commercial register (Handelsregister).
  • Ownership structure: Who pulls the strings? The ultimate beneficial owners (UBOs—individuals holding more than 25% of the company shares) and major shareholders must be identified.
  • Legal representatives: The identity of the individuals authorized to represent the company externally (e.g., managing directors) is verified using ID documents.
  • Security screening: Companies and registered individuals are automatically cross-checked against international sanctions and PEP (Politically Exposed Persons) lists to prevent money laundering or terrorist financing from the outset.

💡 Notes, tips & special cases

  • The process is fully digital: Don't worry, you don't need to send stacks of paper documents by mail. The entire KYB process at become.1 is completely digital and takes place directly inside your admin dashboard.
  • Ongoing monitoring: The KYB check is not just a one-time setup. To comply with legal requirements, automated background checks will continue to run throughout our partnership (e.g., if there is a change in your company's management).

📞 Still have questions?

If it doesn't work despite this guide, or if you have a special case, just send us a message at support@become1.de or write to us in the chat.

We are happy to help you – we usually get back to you within 48 hours on business days.