Business verification (KYB) for Operators and Teams
Discover essential steps and best practices for business verification (KYB) to ensure compliance and enhance trust for operators and teams.
All new Operators and most Professional Teams must complete a Know Your Business (KYB) verification before they can access financial features. Whether a team needs KYB depends on how payments are handled — see the eligibility table below. This article explains what KYB is, how it works, and what happens if verification is not completed.
What is KYB?
KYB stands for Know Your Business. It is a legal requirement under EU anti-money laundering rules (AMLD5/6). Monta uses KYB to verify that every business using financial features — such as wallets, bank payouts, and invoicing — is a legitimate registered entity.
KYB verification is handled by Spektr, Monta's compliance partner.
Who needs to complete KYB?
Personal Teams are not subject to KYB — they are covered by KYC. For all other teams, KYB depends on how payments are handled.
Use this table to check whether KYB applies:
| Scenario | Needs KYB? | Why |
|---|---|---|
| New Operator | Yes | Operator receives payouts and manages billing |
| Professional Team — Operator Transaction OFF | Yes | Team handles its own money |
| Professional Team — Operator Transaction ON | No | Operator handles all payments — the team never touches funds |
| Operator's own internal team | No | Operator is already verified |
| Private Team — Operator Transaction OFF | Yes | Team handles its own money |
| Private Team — Operator Transaction ON | No | Operator handles all payments |
| Personal Team | No | Covered by KYC, not KYB |
| Same registration number as a verified entity | Auto-linked | Instant — no new verification |
The core rule: if Operator Transaction is ON, the team is exempt — the Operator handles all money. If Operator Transaction is OFF, the team handles its own money and needs KYB.
What features are blocked without KYB?
Until KYB is approved, the following features are not available:
- Adding bank account details
- Withdrawing funds from the wallet
- Enabling invoicing
- Subscription billing
- Charge billing
You can still charge, manage charge points, and configure your account while verification is in progress.
How the KYB process works
KYB is completed through a Spektr verification flow. The process involves:
- Submitting legal entity details (company name, country of incorporation, VAT number, business address)
- Uploading documents (Certificate of Incorporation, proof of business address, company registry extract)
- Verifying Ultimate Beneficial Owners (UBOs) — all individuals with more than 25% ownership or control
Each UBO must complete individual identity verification (government-issued ID, proof of address, selfie/liveness check, PEP and sanctions screening).
KYB status
Your KYB status is visible in your account settings. The possible statuses are:
- Pending — verification has been submitted and is under review
- Approved — verification is complete and all financial features are unlocked
- Rejected — verification was not approved; contact support for next steps
Most standard verifications are completed within 48 hours. Complex cases requiring Enhanced Due Diligence (EDD) may take up to 72 hours.
How to start KYB verification
KYB is prompted automatically when you create a new Operator or Professional Team. You can also start or check your verification status from your account settings.
Only users with the Admin role on an Operator or Team can complete KYB.
- Open Monta Hub.
- Go to Settings.
- Select KYB verification.
- Follow the on-screen steps to submit your business details.
Expected result: You receive a confirmation when your submission is received. You will be notified when verification is approved.
Linking verification across accounts
If your new Team or sub-Operator shares the same business registration number and country as an already-verified entity, the system links the verification automatically. No new verification is needed — one verification covers all entities under the same legal identity.
Automatic linking is useful when:
- The same legal entity operates multiple Teams.
- An Operator creates a new Team for an entity already verified elsewhere.
- A group of sub-Operators all sit under the same parent company.
To link an existing verification manually:
- In the KYB section, select I already have a verified KYC ID.
- Enter the KYC ID from your previously verified account.
- If you are adding the link as an Operator user, the link is approved automatically.
- If you are adding the link as a Team user, the Operator or Team with the matching KYC ID must give consent before the link is activated.
Once linked, you can see all Operators and Teams sharing the same KYC ID from the verification overview.
Business registration numbers by country
When completing KYB, you need to provide your company registration number (CRN). This is the official identifier issued by the national business registry in your country.
Use the table below to find the correct number for your country.
| Country | Registration number name | Format / notes |
|---|---|---|
| Denmark | CVR number | 8 digits (e.g. DK12345678) |
| Sweden | Organisationsnummer | 10 digits (e.g. 556000-0000) |
| Norway | Organisasjonsnummer | 9 digits |
| Finland | Y-tunnus | 7 digits + check digit (e.g. 1234567-8) |
| Germany | Handelsregisternummer | Alphanumeric, varies by state |
| Netherlands | KVK number | 8 digits |
| France | SIREN or SIRET | 9 digits (SIREN) or 14 digits (SIRET) |
| Belgium | BCE/KBO number | 10 digits (starts with 0 or 1) |
| United Kingdom | Companies House number | 8 digits or 2 letters + 6 digits |
| Austria | Firmenbuchnummer | FN + up to 6 digits + letter |
| Switzerland | UID | 9 digits (CHE-xxx.xxx.xxx) |
| Spain | CIF / NIF | 9 characters |
| Italy | Codice Fiscale or Partita IVA | 11 digits (VAT) or 16 characters (tax code) |
| Poland | NIP or KRS | 10 digits (NIP) |
| US | EIN | XX-XXXXXXX |
| Canada | BN | 9 digits |
If your country is not listed, use the business registration number issued by your national company registry. The number must be between 4 and 20 characters.
What is customer due diligence?
Customer due diligence (CDD) is the broader compliance process that includes KYB. Monta is required to carry out CDD on all business customers under EU financial regulations.
For full details, see the Customer Due Diligence FAQ.
Troubleshooting
I submitted KYB but my account is still restricted.
Verification is usually completed within 48 hours. If it has been longer, contact Monta support with your submission reference.
I was rejected.
Contact Monta support. In some cases, additional documentation is required.
I cannot find the KYC/KYB section.
Only Admin users can access KYB settings. Check that your account role is set to Admin on the Operator or Team.