FAQs About KYB Verification
What is KYB?
KYB means Know Your Business. It is the process used to verify your business registration, ownership and address. Completing the required verification determines which Bitnob Business products and transaction limits your business can access.
How long does KYB verification take?
Verification usually takes 24–48 hours. You will receive an email when your business is approved. If additional information or documents are needed, the review may take longer.
How many KYB tiers does Bitnob Business have?
Bitnob Business currently has three verification tiers: Tier 1, Tier 2 and Tier 3. Your business's tier determines its product access and transaction limits.
Review the tier information in your dashboard to understand the requirements, available products and limits for your business. Contact support if you need help understanding the requirements for a different tier.
What is a SCUML certificate, and does my business need one?
SCUML stands for the Special Control Unit Against Money Laundering. A SCUML certificate is required for Nigerian businesses classified as Designated Non-Financial Businesses and Professions (DNFBPs).
Examples listed in the verification requirements include certain professional service providers, real estate businesses, dealers in high-value goods, hotels, gaming businesses, NGOs, charities, religious organisations and large-scale supermarkets.
It is not required for every business. If you are unsure whether it applies to yours, contact support before submitting your KYB documents. Businesses that need the certificate can register through the official SCUML portal.
Which proof of address documents are accepted?
Your document must show the full legal name of the business, director or beneficial owner whose address is being verified and must have been issued within the last three months.
Accepted documents include:
Electricity, water or gas bills.
Corporate bank statements, account opening letters or bank reference letters.
Tax clearance certificates or business premises registration certificates.
Signed tenancy or lease agreements, rent receipts with supporting lease documents, or Deeds of Assignment.
Office insurance certificates, postal address verification letters, or serviced office and coworking agreements, with a utility bill or address confirmation letter from the provider.
If you are unsure whether your document qualifies, ask support before uploading it.
How can I avoid delays with my KYB submission?
Upload clear, complete, legible documents that have not expired.
Ensure names and business information match across your documents.
Where bank statements are required, provide the last six consecutive months.
For partnerships, provide either a registry excerpt or a Partnership Deed, as applicable.
Submit documents in English or include a certified English translation.
Respond promptly if the verification team requests more information.
Do I need KYB to use the sandbox?
No. You can test in the sandbox without completing KYB, subject to default sandbox limits. KYB is required before going live in production, and your verified tier determines your live product access and limits.
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