Justifying and Verifying Transactions

When using your Business Account, our partner may send you requests for additional information about certain transactions.
These requests are made to ensure compliance with financial regulations and keep your operations secure.

Important: Springly cannot bypass these verification checks.

Why are these requests made?

Our partner is subject to a number of regulatory compliance and risk management obligations, particularly around anti-money laundering requirements.

Requests may be made:

1. Upfront: before the transaction is approved. The transaction is placed on hold until you provide the required documents.

2. After the fact: once the transaction has been processed, our partner may request additional supporting documents to complete their review.

Responding to our partner's requests

Our partner will let you know which documents are needed to verify the transaction.

• Incoming wire transfers: You have 24 hours to provide the required supporting documents; otherwise, the transaction will be rejected.

• Outgoing wire transfers before processing: The transaction remains on hold until the documents are provided, with no strict deadline.

• Outgoing wire transfers after processing: You have 2 weeks to submit the required documents. If this deadline is missed, the account may be suspended.

Keeping your transactions clear

To avoid delays or follow-up requests, make sure to:

• Use clear, detailed references for each transaction (recipient name, purpose of the transaction).
• Have supporting documents ready for internal transactions or transfers between entities (such as cash transfers).