This article explains why gymGO is required to verify your legal entity and how to complete this step in your account set up.
Why is my legal entity information required?
In order for gymGO to accept and send payments, we are required to follow "Know Your Customer" regulations. KYC regulations requires us to collect information about the individual or company receiving funds and verify that the information is accurate. The following information must be collected in order for us to verify your account:
- The entity type (individual or company)
- The business name (company only)
- Full legal name of the individual or company representative
- Date of birth of the individual or company representative
Sometimes, as part of our KYC process we may require additional information. We'll let you know when and what that additional information is to complete the verification for your account. If any of the required information has not been collected, we will put a temporary hold on payouts to your account until the information has been verified.
How To Verify Your Legal Entity With gymGO
To begin verification of your legal entity, you'll want to navigate to "My Business" and then choose the "Legal" tab. Use the pencil icons to update and edit the "Identity" and "Verification" cards.
Complete the Identity card by choosing your identity type and then completing all associated fields on this page. Click "SAVE" to update your settings. Next complete the Verification card and click "SAVE". The verification process can take a couple of business days.
You will be notified by gymGO if any additional information is required to verify your account.