When you're running a small business, getting set up to accept payments quickly and securely is key. At Autobooks, we’re here to make that easy for you. Autobooks will need additional information from you after our initial application review. This process is called Know Your Customer (KYC).
Don’t worry — KYC sounds a little formal, but it's really about building a safe and trusted relationship between you, Autobooks, and the financial system. Let’s walk through what it is, why it matters, and how you can navigate the process.
What KYC Means — And Why Autobooks Needs It
At Autobooks, we will perform a KYC check before approving your business for payment processing services. This is a standard requirement across the financial industry, designed to:
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Make sure we truly know who we're working with
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Help prevent fraud and financial crimes
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Protect your business and your customers
Although you have an established relationship with your financial institution, Autobooks is required to perform KYC independently.
This process helps us — and you — stay compliant with regulations and ensures that your payment processing account is set up securely and properly from the start.
- To learn more details about contributing additional information to us, click here.
- To understand your account status during the application process, click here.
What Information You’ll Need to Provide
Depending on the situation, we might verify your information by:
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Checking trusted third-party databases (non-documentary verification), or
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Asking you to upload documents like a driver’s license, passport, or utility bill (evidentiary verification)
We may also need to verify key people associated with your business, like executives or major owners.
What Else Autobooks Might Ask For
In some cases, we’ll ask for a little more information about your business, such as:
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What your business does (your products or services)
- Marketing materials to support your products offered
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Your anticipated annual revenue or invoice volume
Pro Tip:
Responding quickly to our requests for information helps everything move faster — meaning you can start accepting payments and growing your business sooner!
- Once we perform our checks, not all applicants are approved to process payments with Autobooks. Click here to understand why an application may be denied.
Keeping Your Payment Account in Good Standing
Once you're approved for payment processing, staying proactive helps ensure your account stays in great shape. Here are a few tips:
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Respond quickly if Autobooks reaches out for updated information
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Notify us if your business changes significantly — like adding new products or moving into new markets
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Update key details if your ownership structure changes (like bringing on a new investor)
Keeping your information current helps us maintain a smooth relationship with you and minimizes any potential delays when you need to process payments.
NOTE: Once you're approved Autobooks may review individual payments for fraudulent activity, especially if the payment is outside your normal volume. You may be asked to provide information during this review of a payment.
Why KYC Matters — And How It Protects You
Sometimes, payment processing providers have to pause or even close accounts if they can't verify important information, or if a business moves into industries or markets outside of their supported services.
At Autobooks, transparency and communication are key. You can help us keep your account active and processing smoothly by:
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Staying in touch about major business changes
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Responding promptly to information requests
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Letting us know about any expansion into new markets or services
At Autobooks, we’re committed to helping small businesses grow and thrive. Completing KYC is a simple but important step to get you set up with payment processing — safely, securely, and quickly.
Have questions about KYC or anything else related to your account?
Our team is always here to help — just reach out to the Autobooks Customer Support team!