At clear, we believe in being diligent, so we carefully manage risk and are strictly compliant with global financial regulations.
We are bound by the Money Laundering Regulations 2017 to do all we can to ensure that our payment gateway is not used for criminal purposes.
This means that before we open your account, we perform thorough ‘Know Your Customer’ (KYC), ‘Know Your Business’ (KYB) and ‘Anti-Money Laundering’ (AML) checks, through various third-party identity-verification and credit-history specialists.
Put simply, these checks help us to ensure that you are who you say you are, your business does what you say it does, and you have no known associations with criminals or criminal activity.
These checks are in line with the practices set out in the Money Laundering Regulations 2017 (http://www.legislation.gov.uk/uksi/2017/692/pdfs/uksi_20170692_en.pdf).
We find that most applications for well-established business are smoothly approved by our third-party specialists – but if you have any concerns ahead of paying your sign-up fee, please get in touch with us and talk it through.
If your application is rejected at the KYC, KYB or AML stage, we will try and assist you to understand which part of your application has raised an issue.
However, as our results are provided by specialist third-party providers and are objectively analysed by them, we have no ability to influence or change the decision.
Please also note that because of our obligations under the Money Laundering Regulations 2017, any decision made by these third-party providers will terminate the current application process, and if this happens the fee you have paid is non-refundable.
If you wish to remedy the situation that has been highlighted during our checks and reapply, you are welcome to – but you will need to pay the set-up fee again, and the checks will be performed again.
If our KYC, KYB and AML partners give your business their go-ahead, the next step is to get our software installed on your website.
We support all the main e-commerce platforms, like Shopify and Magento, and will provide you with simple instructions to install a plugin.
Once the plugin is activated, you will be ready to go!