KYC for ACH/Higher Limit Cards

Overview

Wyre Partners have the option of adding a KYC flow to Wyre Checkout. This enables the support of ACH Direct Debits and/or higher limit card payments. If interested, please contact [email protected] to enable this feature.

There are two steps that must be completed in order for ACH Transfers to be initiated. The user will need to go through Wyre's hosted KYC flow and connect a bank account through Plaid.

Hosted KYC

In order to make purchases via ACH or access high limits for card payments, users will need to go through Wyre's KYC onboarding.

KYC requirements include:

• An image upload (front & back) of an ID card or driver's license
• Personal details including Name, Address, Date of Birth, Email, Phone Number, and Social Security Number
• A selfie

KYC approval typically takes 3-4 minutes but can take up to 10 minutes in a few cases. Once the user has been verified, if they select ACH Transfer they will connect their bank account with Plaid. If they select credit/debit card then they go back and proceed through a normal Checkout transaction.

Linking Bank Account

User links a bank account through Plaid by authenticating with their bank, typically by SMS or email.