To create a payment or request on Checkless, you’ll need to verify your account. For the government to prevent financial crime, existing U.S. customer due diligence rules strengthen customer requirements.
Because of that, Checkless must verify the identity of owners and controllers for at least one party in each transaction.
Entities can be abused to disguise involvement in terrorist financing, money laundering, tax evasion, corruption, fraud, and other financial crimes.
By requiring the disclosure of key individuals, Checkless is a safe place to transfer money.
What can unverified accounts do?
Unverified accounts can participate in payments with verified accounts. The verified account can send a payment or a request to the unverified account. Unverified accounts have a $5,000 weekly sending limit.