The KYB (“Know Your Business”) process for Avinode requires that certain documentation is provided detailing key information about a member’s business. This knowledge article lists this documentation, potential alternative documentation, and samples for what is required.

Company Information Section

Required Documentation	Required Document Sample(s)	Information about Documentation
Certificate of Incorporation, Articles of Association, or Operating Agreement	Certificate of Incorporation sample Articles of Association sample Operating Agreement sample	These documents provide proof that the Company was legally created and registered. An alternative document can be used, but it must show that the Company was legally created and registered.
Owner Register or Shareholder Register	Owner Register sample Shareholder Register sample	These documents show who owns the company. If the Company is owned by another company, provide the shareholder register for that company as well. If the company is owned by a Trust, provide the Trust Deed. Must show company logo or letterhead and be signed within the last 12 months. Percentages of ownership should be included.
Register of the Company Directors	Register of the Company Directors sample	This document shows who manages* the company. Must show company logo or letterhead and be signed within the last 12 months.*

Bank Accounts Section

Required Documentation

Required Document Sample(s)

Alternative Documentation

Alternative Document Sample(s)

Information about Documentation

Bank statement (within the last 3 months)

Bank statement sample

Bank letter confirming account and signed Charter Flight invoices

OR

Company Financials

Bank Verification Letter sample

Charter Flight Invoice sample

Balance Sheet sample

Income Statement sample

Registered in the Company's name (business account).

Documents Section

This section is provided to upload any additional documentation that you may have. These documents are not required but may be requested during the KYB process. Please see samples of some of these documents below.

Additional Documentation	Additional Document Sample(s)	Information about Documentation
Trust Deed	Trust Deed sample	This is used when owners are a trust.
Government issued registration document	IRS Tax Letter sample	IRS Tax Letter, Signed W9, etc.
Marketing Materials and evidence of an online presence	N/A	LinkedIn, Facebook, Instagram, etc.
Product List	N/A	List of Products offered

Templates for Download

We understand companies are structured differently. If needed, please find below the structure that corresponds to your company and download a template of the required document that fulfills your KYB application requirement. If you use one of these templates, please make sure you include:

Company logo
Company legal name and registered address
Date
Signature

Company Structure	Recommended Template
Fully or partially owned by another company	Company Structure Template Download.
Owned by more than one owner or shareholder	Shareholder/ownership and Director’s Register Template Download.
Sole owner - owned by one owner	Shareholder/ownership Register Template Download.

Paynode Member Eligibility

Who can become a Paynode Member?

In order to become a member of Paynode, a company must meet all of the following criteria.

Have Avinode and/or Schedaero membership
Be legally registered in a country that is within the permitted jurisdictions
Successfully pass KYB review and vetting by our payment solution providers.

Companies that are registered in countries outside of the permitted jurisdictions are not able to be Paynode Members.

Who is on Paynode? This is the Paynode network.

KYB Country Requirements

In order to join Avinode or become a Paynode Member, a company must first submit their KYB application for review and approval.

The complete KYB form is required for any company legally registered in one of the countries listed below (Permitted Jurisdictions).
For companies registered in a country not listed below, certain sections of the KYB form are optional. These are indicated by a blue information message.

Only companies legally registered in the countries below may become a Paynode member.

Åland Islands	Guernsey	New Zealand
Austria	Hong Kong	Norway
Australia	Hungary	Poland
Belgium	Iceland	Portugal
Bulgaria	India	Réunion
Canada	Ireland	Romania
Cayman Islands	Isle of Man	Saint Martin (French part)
China	Israel	Singapore
Croatia	Italy	Slovakia
Cyprus	Japan	Slovenia
Czech Republic	Jersey	South Africa
Denmark	Latvia	South Korea
Estonia	Liechtenstein	Spain
Finland	Lithuania	Sweden
France	Luxembourg	Switzerland
French Guiana	Malta	Taiwan
Germany	Martinique	United Kingdom
Gibraltar	Mayotte	United States
Greece	Monaco
Guadeloupe	Netherlands

Please note that this list is reviewed and updated periodically.

Register for Paynode

Submit KYB to Get Started on Paynode

What is KYB?

KYB stands for "Know Your Business". This is sometimes also referred to as KYC which stands for "Know Your Customer."

The KYB process is a regulatory and legal requirement any time a new bank account, money transfer process or card processing account is set up. KYB is one of many steps we take, together with our payment solution providers, to ensure against money laundering, the funding of terrorism, fraud, and the illegal transfer of funds.

Through KYB, our customers' identification is verified using reliable and independent information and documents. Our customers will also be asked about the nature of their funding activities in order to satisfy that the source of the funds is legitimate.

Because of the payment solutions Paynode offers, successfully completing the KYB process is a prerequisite for each of our members.

How does the KYB process work?

Identify who in your organization can provide the company information asked for in the KYB form and who also has the right to bind the company to the Avinode Group terms and conditions. This is typically your CFO, Controller, or Owner.
Ask your Account Manager to grant that person access to your company's KYB form.
Input the information and upload the documents required on the KYB form. This includes information about the company's legal registration, bank account(s), ownership structure, registered directors, and payment volumes. You can save your work and come back to this page as needed.
Once the form is complete, accept the terms and conditions and submit the form for review.
Paynode's solution providers then review and validate the information provided. In some instances, you may be asked to provide clarifications or additional documentation.
Once your company has been approved, your Paynode account setup will be finalized.

New Member KYB Application

The KYB process is a compliance requirement any time a new customer joins Avinode or wants to start using Paynode. Through this process, we look to ensure that members meet legal and compliance requirements.

We will ask you for information to enable us to (1) verify that your business legally exists, (2) understand your corporate structure, and (3) identify and verify who controls and owns your business.

KYB Form

The form asks questions about the company:

The Company’s legal registration and certificate.
Ownership structure, individual owners, and copies of their IDs.
Registered directors and copies of their IDs.
Bank account and a bank statement dated within the last 3 months (this is optional for some countries).

Who can see the KYB data and documents?

Access to the KYB form is highly restricted.
Within Avinode Group, only the KYB staff persons directly responsible for the KYB process have access to the form (this is a tightly controlled and limited group) along with the compliance teams of our payment solution providers.

Register for Paynode

KYB Company Ownership and Directors

Templates for Documenting Company Ownership Structure, Owners, and Directors

In order to become an Avinode member, a company must first go through the KYB process. As a part of that process, the company must provide information about its ownership structure, owners, and directors.

Ownership Documentation

Ownership documentation must show who are the ‘ultimate beneficial owners’ (UBOs) and controllers of your company. In cases where there are intermediary entities that sit within the ownership chain of another corporate entity, it is also required to identify individuals who own 10% or more of the company.

We understand companies are structured differently. Please find below the structure that corresponds to your company and download an example of the required document that fulfills your KYB application requirement.

If you use one of these templates, please make sure you include:

Company logo
Company legal name and registered address
Date
Signature

Templates for Download

Company Structure	Recommended Template
Fully or partially owned by another company	Company Structure Template Download.
Owned by more than one owner or shareholder	Shareholder/ownership and Director’s Register Template Download.
Sole owner - owned by one owner	Shareholder/ownership Register Template Download.

Non-Permitted Industries, Activities and Countries

There are a number of restrictions on the type of industries, activities, and countries we support and service. This is part of our commitment to mitigate the risk of money laundering and terrorist financing.

Non-permitted industries – global

Weapons / military-grade security
Multi-level marketing
Pawnbrokers [MCC: 5933 - Pawn Shops]
Political organizations[MCC: 8651 - Organizations, Political]
Precious metals and stones[MCC: 5094 - Precious Stones and Metals, Watches and Jewelry]
Adult entertainment
Drug paraphernalia
CBD and related products
Carbon credits
Cryptoassets
Gambling[MCC: 7995 - Betting (including Lottery Tickets, Casino Gaming Chips, Off - track Betting and Wagers)]
Ponzi / pyramid schemes
Firms involved in the servicing of illegal goods/services including but not limited to: counterfeit goods/trademark infringement, human trafficking, child labor, prostitution.
Mining and extraction
Speculative trading

Non-permitted industries – United States of America

Chemicals
FDA classified medical devices
Medications or prescription drugs
Alcohol[MCC: 5813 - Drinking Places (Alcoholic Beverages), Bars, Taverns, Cocktail lounges, Nightclubs and Discotheques]
Tobacco[MCC: 5993 - Cigar Stores and Stands]
Dietary supplements
Seeds or plants [MCC: 5193 - Florists Supplies, Nursery Stock, and Flowers]
Regulated financial services
Outbound telemarketing [MCC: 5966 - Direct Marketing-Outbound Telemarketing Merchants]

Non-permitted client types

Financial Institutions making payments on behalf of other financial institutions, also known as ‘nested relationships’ or ‘layering.’
Shell banks
Unregistered charities

Non-permitted activities

Clients are not allowed to use our services to speculate changes in FX
Transactions deriving from crypto currencies

Non-permitted jurisdictions

Restricted Countries

Belarus	Libya	Sudan
Crimea	Luhansk region of Ukraine	Syria
Cuba	Myanmar *	Venezuela
Donetsk region of Ukraine	North Korea	Zaporizhzhia region of Ukraine
Iran	Russia
Kherson region of Ukraine	South Sudan

* Myanmar
Due to the current military coup in Myanmar, all banks onshore have been instructed by the Myanmar Banks Association to remain closed. As the banking system is now offline, our banking provider is unable to process any payments to Myanmar until further notice.

Ukraine

Please be aware that all payments to Ukraine remain subject to delays due to the ongoing conflict and the increased sanctions risk. Currencycloud continues to monitor the situation regularly and will update this page with any changes.

See Permitted Jurisdictions