What is KYB (Know Your Business) and when does Meow require it?

KYB (Know Your Business) is the business-level counterpart to KYC (Know Your Customer). Where KYC verifies the identity of individual people, KYB verifies the legitimacy of the business entity itself. Financial institutions are required by law to conduct KYB as part of anti-money laundering (AML) and Bank Secrecy Act (BSA) compliance.

When is KYB required?

Meow performs KYB as part of every business account application. This is standard for all customers. In some cases, Meow or our banking partners may request Enhanced Due Diligence (EDD) — additional KYB documentation beyond the standard application — based on factors like:

• Business type or industry

• Transaction volume or account activity

• Country of operation

• Entity structure (e.g. funds, foundations, holding companies, or entities with complex ownership)

What documents are typically requested?

Standard KYB documents may include:

• Articles of incorporation or formation documents

• EIN confirmation letter

• Proof of business address

• Ownership and beneficial owner information

• Government-issued IDs for key individuals

For Enhanced Due Diligence requests, Meow or our banking partners may also request:

• Proof of funds or source of wealth

• Business financial statements

• Additional beneficial owner documentation

• Business licenses or regulatory filings

What is Enhanced Due Diligence (EDD)?

EDD is an additional level of review applied to accounts with higher risk profiles or complex structures. It's not a denial — it's a request for more information. If Meow requests EDD, you'll receive an email or in-dashboard notification specifying exactly what's needed.

Respond to EDD requests promptly to avoid delays in account approval or feature access.