For remitters or your connected customers to use "Advanced services" as well as keeping with the changing landscape in regulatory mandates and to further ensure your continued financial protection, we have an advanced profile procedure that ensures your compliance with respect to anti-money laundering, anti-terrorism financing, foreign asset control, trade, and economic sanction laws and/or regulations.
The data received from this completed advanced profile online form will be used to perform required diligence checks against the United States Office of Assets Control's databases, which aggregates data from multi-national governmental bodies.
Once complete, we will review the data and notify you via email. We may ask you for additional information from time to time. Once approved, you are approved for access to 'Advanced Services'
XTRM "Advanced Services" is designed for remitters, i.e. companies that want to make global payments. It is not required to receive payments. Companies must be approved for "Advanced Services" to send payments. A yellow star identifies when a company is "Advanced Services" approved.
For you (remitter) or your connected customers (aggregator/managing company) to use XTRM "Advanced Services," please complete and submit the application. The link can be found on the Home page at the top or on the Profile Page.
IMPORTANT: Please make sure the organization profile is 100% complete, otherwise you won't be able to access the application.
To get the organization profile 100% complete, please complete the "You (Master Admin)" and "Organization" profile sections and complete 2 of 3 identity tasks.
1. Link bank account (Company Section)
2. Link payment card (Company Section)
3. Upload image of identity - company tax document, driving license, or passport. (Company Section)
Once your organization profile is 100% complete, you can submit your "Advanced Services" application as the final step for access to the services. Once completed and submitted, it is sent to our compliance for approval. Approval typically takes a few days for domestic and 1 to 2 weeks for international payments.
Advanced Services include:
1. Making payments anywhere in the world (i.e. you or your connected customer is a "Remitter")
2. Using the XTRM API as an XTRM Developer
3. Funding you or your customers' wallets via any methods such as Invoice, ACH Debits, Wire, or Debit Card
4. Increased limits on funding and transfers
5. Increased security identity and trust level
To get to the Advanced profile application, log into your company account, and click "Apply Here" from the Home page as shown below.
If you are a managing company connected to downstream partners and customers, you can view and complete their advanced profile on their behalf in the "Connected" section.
Managing companies can see the "Advanced Services" status (approved or not) for their connected customers and view their advanced profile and help customers fill it out if required. The information required depends on your country and business profile.
Decide whether you are making payments within the USA only or USA and International
Chose both if you are only making international payments.
Note, USA applications' require less information and approvals typically take 1-2 business days. International applications could be approved within a day or a couple of weeks depending on your country, business model, and the associated risk. Once approved, you or your customer will receive an email alerting them of approval, and their account status in settings will be updated to "Approved".
An "Advanced Services" approved company has a gold star next to its name when viewing beneficiaries or connected screens. Once approved, you will have access to advanced services. Some require additional approval, such as ACH Debits.
Note: This information is required for banking and regulatory compliance. All companies wanting to use XTRM Advanced Services have to be reviewed as is required by law. XTRM is regulated in exactly the same way banks are regulated for your financial safety and to reduce risk. All information provided is used purely for financial and regulatory purposes and is not used for marketing in any way.
You will receive an email notification when approved "Approved for Advanced Services"
Remember that some Advanced Services require an additional application, such as wallet funding via ACH Debit.
More info HERE