👤 EU/EEA (non-Swiss) entities
To generate Yokoy Pay cards for an entity (available for companies in EU/EEA), you need to go through the account opening process, Know Your Business (KYB).
The KYB onboarding process involves these steps:
The KYB onboarding process takes on average 4–8 weeks to complete. Bear in mind these timelines when requesting a Yokoy Platinum Visa card account.
💡 Tip
If you‘re looking to acquire Yokoy Pay, please reach out to your onboarding manager if you are a new Yokoy customer, or to your account manager if you‘re an existing Yokoy customer.
Accept your invitation to Yokoy Pay
Once your organization has been identified as required to complete Yokoy‘s KYB onboarding process, you‘ll receive an email invitation to Yokoy Pay. This invitation includes a link to our designated KYB software Dotfile that will guide you through the KYB onboarding journey. You‘ll need to click on this link to accept the invitation.
For the KYB onboarding process, Yokoy selects the primary contact person from the initial sales agreement. If you are the point of contact for your organization and still haven‘t received the email invitation, please reach out to kybprocess@yokoy.ai.
💡Existing Yokoy Pay customers or onboarding multiple entities
Looking to onboard multiple entities to Yokoy Pay? Go to the Dotfile client portal. Fill out the KYB questionnaire for the first entity. Once completed, log out of the portal and then log in again to start the process for the next legal entity.
Get started with the Yokoy KYB platform
For a simple, safe, and smart business verification, Yokoy has partnered with Dotfile. Doftfile is a single KYB solution that automates KYB onboarding and AML procedures, reducing fraud and helping to achieve global compliance.
✏️ Note
All new entities you want to onboard require KYB questionnaire and document upload via Dotfile even if you have previously onboarded a separate entity to Yokoy Pay. This ensures we have up to date documents and entity data to achieve EU compliance.
To access Yokoy‘s KYB platform for the first time:
Go to the Dotfile client portal.
Click Start new onboarding.
✏️ Note
If you‘ve already started the onboarding process, you can continue where you left off by entering the email address linked with the onboarding process. A unique 24-hour link will be sent to your email address, which allows you to resume the KYB onboarding process.
If you are currently undertaking multiple onboarding processes for different legal entities in your organization, you‘ll see a list of KYB onboarding cases at the bottom of the email.
Complete the KYB questionnaire
To start the KYB onboarding process on the Yokoy KYB platform, you must first review the data processing agreements set out by Yokoy. By clicking Next, you expressly agree to the terms and conditions set out in the data processing agreements.
Next you need to fill out the KYB questionnaire. The following steps are designed to help you to identify the correct legal entity and provide the relevant data based on your unique company.
Select the country where your company (legal entity) is registered.
Provide the exact name of the company (legal entity) you want to select.
Click Search your company.
Select your company and click Next.
💡 Tip
If you cannot find your company in the automatically generated list, check that you have selected the correct country where the company is registered. Alternatively, you can fill in the details manually.
Once you have selected your company, you are guided through the KYB questionnaire. The questionnaire contains specific questions in relation to your company information, business economic data, and legal representatives.
1. Provide all company identification data. Make sure to review the fields requested.
2. Provide economic data for the business entity.
3. Add the relevant individuals (UBOs or legal representatives) to your company KYB questionnaire.
4. Enter all required data for the individual.
5. Select a business contact. Make sure that you select a business contact. This is the person (and email address) that will be associated with the KYB case. You must use this email address to resume the onboarding process should you choose to pause it at any stage.
6. Review your KYB questionnaire before submission. Check all collected data.
The next step in the process is to gather data on your company and the relevant individuals. Yokoy recommends reviewing the following points before proceeding:
Make sure that all information provided about your company is accurate and up-to-date.
Make sure that all relevant individuals are added to the KYB case. We recommend you include any UBOs or directors who may be relevant, even if you end up not providing that documentation, rather than forgetting an individual.
Make sure that all data provided on the individuals is accurate and up-to-date.
🚧 Caution
Once you click Next, you cannot amend any of the information provided. Only the KYB case officer can make changes.
If you require any assistance, please consult your KYB case manager or contact card-operations@yokoy.ai.
Gather the required documentation
To successfully onboard your company, Yokoy requires that you submit the following documents, data, and information through our KYB platform.
✏️ Note
If you plan to onboard more than one company (legal entity), you must provide the required information for each company separately.
Required documents
You will be asked to provide the following documentation during the KYB onboarding process:
Ownership and Organizational Structure: An up-to-date document signed and dated (within the last 3 months) by an authorized accountant, solicitor, or board member, as well as notary.
If signed by a solicitor or accountant, it must include their name and evidence of their chartered/supervised status.
If signed by a board member, it must include their name and position within the company.
The chart must include all legal persons, but in particular natural persons that possess relevant percentages in each and every step of such structure.
Commercial Register Excerpt: An up-to-date excerpt from the relevant commercial register, i.e. not older than 3 months.
Beneficial Owner Register Excerpt: An up-to-date excerpt from the relevant beneficial owner register, i .e not older than 3 months.
Corporate Acts: Documentation of the regulations and rules for internal management of the company. Up-to-date and consolidated documents such as the Memorandum or Articles of Association.
Confirmation Statement: If your company recently underwent changes in its name or similar identifying features, you must upload historical excerpt as well.
Annual Reports: Published annual reports of the last 2 years. Provide audited and/or consolidated versions, if applicable.
Upload documents in the Yokoy KYB platform
To upload all the required documents:
Click Upload.
Drag and drop the file in the dialog box or select the file from your device.
Click + Add a file to select additional documents.
To finish the upload, click Send for review.
🚧 Caution
Make sure you upload all relevant documents to the correct section and at the same time. If you miss any documents or want to upload more, you will have to wait for the KYB officer to reject your documents before you can re-upload it.
Perform identification verification
In addition to the required documents, data, and information about the company, Yokoy must identify and verify all relevant persons such as legal representatives and UBOs.
Required verification
Identity verification for the legal representative: Certified remote identity verification should be performed.
Or, only if approved by your KYB case officer:Proof of Identity: Provide a certified and translated copy of ID. It must be in color, all four corners visible, with both sides copied.
Proof of Address: Additional document appropriate for address verification. Documents must be no older than three months.
Identification process for UBOs, Directors, or Contract Holder Representative: Identification must be provided for all relevant parties.
Proof of Identity: Provide a certified and translated copy of ID. It must be in color, all four corners visible, with both sides copied.
Proof of Address: Additional document appropriate for address verification. Documents must be no older than three months.
If no UBO (unique beneficial owner) holds 25% or more, you must provide IDs of the two managing directors.
✏️ Note
You have the option to use advanced remote identification verification in lieu of providing proof of address. If you require this option, please consult your KYB case manager or contact card-operations@yokoy.ai.
Performing identity verification in the Yokoy KYB platform
To perform remote identity verification that is required for legal representation, you need a mobile phone and proof of identity. The entire process should take between 3–10 minutes.
Perform remote identity verification
1. Click Start verification to commence the identity verification process.
2. Select the method of accessing the identity verification. You can choose between Generate a QR code that you can access from your phone or Receive a text message.
3. Once you have accessed the link on your smartphone, start by selecting your country of residence.
4. Select the document that you want to use to perform remote identity verification.
5. Review the Legal notice. If you choose to continue, select the checkbox to consent to the request and tap I Agree.
6. Hold and tilt the front of your document. Once ready, tap I'm ready to tilt my document.
7. Once you have completed the front of the document, you are requested to repeat the same process for the back of the selected document. Tap I'm ready to tilt my document.
8. Finally, you need to complete the profile of your face. Position the camera in front of the face and tap I'm ready.
9. Once you have completed the profile recording, Dotfile quickly reviews the provided information and informs you when you can close the website.
Upload identification and proof of address
You can upload all the documentation needed by:
Click Upload.
Drag and drop the file in the dialog box or select the file from your device.
To finish the upload, click Send for review.
In case of the proof of ID, you are asked upload a photo of the front and the back of the ID card. You can simply upload the document in one of the two dropdown fields.
🚧 Caution
Make sure you upload all relevant documents to the correct section at the same time. If you forget any documents or want to upload more, you have to wait for the KYB officer to reject your document before you can re-upload them.
Wait for KYB case review
Once all the documentation has been uploaded, your KYB case officer will review the provided data and documentation. This process allows the KYB case officer to approve or reject particular documentation.
If a document has been rejected, you can see this in the Yokoy KYB platform and review the comment that has been provided by the KYB case officer. You can then upload a new document(s) and resubmit it.
