KYC/KYB Levels - depreciated

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Decommissioned KYC levels

As of Jan 2023 Sila's banking partner (Evolve) has decommissioned the use of the following kyc_levels:

• KYC-LITE
• NONE or other "custom" external kyc level
• Receive-Only Entities.

Anyone sending or receiving funds must be a full documentation KYC'd user.

KYC

These values for kyc_level apply to individual entities:

• DOC_KYC - this level contains full KYC and allows documents to be used to verify information that could not be verified automatically.

• KYC-LITE - (if approved to use) this level allows you to skip third party verification and only provide the minimal amount of information (name, email, phone number, date of birth). These entities have limited transaction capabilities in regards to amounts, funds held, and funds flow. The transaction limit is $299.99 per week (M-Su) per user.

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KYC-LITE Entities

Approval for use of KYC-LITE entity types is determined on a case by case basis by Sila's compliance team. Not all requests to use the KYC-LITE entity type can be granted.

WARNING: KYC-LITE is NOT available for International Remittance and Crypto use cases at this time.

• NOTE: kyc_level: KYC-LITE will work in the Sandbox environment but it will NOT work in Production without pre-approval.

• RECEIVE_ONLY - (if approved to use) this level allows you to skip third party verification and only provide the minimal amount of information (name, email, phone number recommended). This entity is limited to receiving funds only from a fully KYC/KYB source, they may not issue or transfer. See details here - https://docs.silamoney.com/docs/receive-only-entities

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Receive-only Entities

Approval for use of receive-only entity types is determined on a case by case basis by Sila's Compliance team. Not all requests to use the receive-only entity type can be granted.

WARNING: Receive-Only is NOT available for International Remittance and Crypto use cases at this time.

• INSTANT-ACHV2 (if approved to use) this level contains full KYC and allows you to use Instant ACH.

  • Instant ACH is only available to customers in an applicable payment tier and for those who are pre-approved to participate in the closed beta program. Reach out to your account executive to learn more.

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Instant ACH - Closed BETA

Keep an eye out for for the release in the coming months!

IMPORTANT
INSTANT-ACH This KYC level will be deprecated, ensure you integrate INSTANT-ACHV2

• INSTANT-ACHV2 - this level contains full KYC, SMS opt-in, device registration, and additional behavior analysis (anti-fraud integration).
• INSTANT-ACH - this level contains full KYC as well as SMS opt-in in and device registration. This KYC level will be deprecated, ensure you integrate INSTANT-ACHV2

See details here - https://docs.silamoney.com/docs/instant-ach

KYB

These values for kyc_level apply to business entities:

• KYB-STANDARD - Depending on the business type, various individuals holding key roles within the business (i.e., Controlling Officer, Beneficial Owner) are required to pass individual KYC. This must be certified by an Administrator of the business. See details here - https://docs.silamoney.com/docs/kyb-know-your-business
• KYB-LITE - EINs and certification are not required (but can still be provided) for the following business types: sole proprietorships, trusts, unincorporated associations. If the business is one of these types, it will go through the KYB-LITE flow.
• RECEIVE_ONLY - this level allows you to skip third party verification and only provide the minimal amount of information (name, email, phone number recommended). This entity is limited to receiving funds only from a full KYC/KYB source, they may not issue or transfer. See details here - https://docs.silamoney.com/docs/receive-only-entities

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KYB Levels

Unlike with KYC, with KYB the KYC_LEVEL does not need to be specified explicitly by your API request. Instead, KYB levels are applied to the business entity based on the business type.