Verified-ACH Underwriting Requirements 

Required

1. US Business Bank Statement

2. Signed ACH Agreement

3. Business Owner's ID (license or passport)

 For Online Gaming / Gambling / Sweepstakes Merchants;

1. Minimum bank balance of $25,000

2. Legal opinion letter

3. Compliance and internal control policies around KYC and age verification, geo-location, etc.

Money Service Businesses 

1. Anti-Money Laundering (AML) procedures document 

   1. 1. • This document outlines procedures for risk assessment, customer verification, transaction monitoring, record keeping, reporting, employee training, and compliance controls to prevent and detect money laundering activities.

Supplemental

1. Business EIN

2. Voided Check / Bank Letter

3. Articles of Inc / Org

See how to submit Paynote applications here

• Firearms & Ammunition

• Adult entertainment; including escort services, adult clubs, and explicit media.

• Debt management, collection, or advisory services.

• Unlicensed or unregistered Money Services Businesses, as defined by federal and state regulations.

• White label ATM operations.

Generally prohibited: 

• Trading in prohibited goods, such as stolen items, controlled substances, and hazardous materials that endanger consumer safety.

• Businesses associated with marijuana, including cultivation, distribution, and promotion for medical or recreational use.

• Illicit services like counterfeiting, illegal gambling, fraudulent investment schemes, and money laundering.

• Content or activities that promote hate speech, violence, harassment, or abuse.

 Please don't hesitate to reach out to the Paynote team for clarification