Before your account can start receiving payments, it needs to meet a few requirements. Here's everything you'll need in place.
1. Pass KYB verification
Every account must complete Know Your Business (KYB) verification. For the full list of what's needed and how the process works, see our KYB process overview.
2. Website or social media page
You'll need a website or social media page to verify your business's web presence. This helps our payment processor prevent fraud and satisfy regulatory requirements.
Your page should:
List your business name
Include a description of your goods or services
Be reachable (public, not private) and not under construction
3. Business address
Your registered US business address cannot be a P.O. box, private mailbox, virtual mailbox, commercial mail receiving agency address, or highway contract box. This address will be used for verification and sending a 1099-K, if applicable, but will not be client-facing.
You can have a second address on your account that will be client-facing.
4. Bank account
You'll need a US bank account connected to your Anchor account in order to receive payouts.
5. Activate your account
After your KYB is approved, complete the "Activate your account" setup step by scheduling a meeting with one of our team members for identity verification.
Still have questions? Feel free to reach out at [email protected]. Our team is always happy to help!