COMPLIANCE004 - Understanding and applying for Advanced Services

XTRM "Advanced Services" is designed for companies (remitters) that want to make domestic or global payments. It is not required for receiving payments. Companies must be approved for "Advanced Services" to fund their wallets, send payments, and pay bills.

To comply with regulatory mandates and ensure financial protection, XTRM has implemented an advanced profile procedure. This procedure ensures compliance with anti-money laundering, anti-terrorism financing, foreign asset control, trade, and economic sanction laws and 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 the application is completed and submitted, it will be reviewed, and approval will be communicated via email. Additional information may be requested as needed.

To use XTRM "Advanced Services," remitters or their connected customers (aggregators/managing companies) must complete and submit an application. The application link can be found on the Home page or the Identity Page.

Requirements for Application:

• Identity Profile Completion: 

  • Ensure the Identity profile is 100% complete to access the Advanced Services application.
  • Complete the "Identity" section, which includes:
    1. Organization Details
    2. Identity Documents: More Info  
       • Valid driver's license or passport or other government ID
       • Company tax document.
       • Utility bill or similar document to identify the business's physical address. (Private companies only)
    3. Organization Prime Contact (Master Admin) 

Once the identity profile is complete, submit the "Advanced Services" application.

The application will be reviewed by compliance for approval, typically taking a few days for domestic and 1 to 2 weeks for international payments.

Features of "Advanced Services"

• Make global payments anywhere in the world.
• Use the XTRM API as an XTRM Developer.
• Fund wallets via methods such as Invoice, Bank Debit, Wire, or Debit Card.
• Higher limits on funding and transfers.
• Increase security identity and trust level.

Log into your company account and click "Apply Here" from the Home page or the Identity profile page to access the application.

Please indicate whether you are making payments within the USA only or both the USA and internationally.

Choose "International" if you are sending payments to both the USA and other countries.

USA applications require less information, and approvals typically take 1 to 2 business days. International applications could be approved within a day or a few 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 account will have a gold star next to their name when viewed by beneficiaries or on connected pages.

Managing Companies and Downstream Partners 

Managing companies connected to downstream partners and customers can view and complete their advanced profile on their behalf in the "Connected" section. They can see the "Advanced Services" status whether approved or not (approved companies will have a gold star next to their name) for their connected customers and assist in filling out the advanced profile if required. The required information depends on the country and business profile.

Note: This information is required for banking and regulatory compliance. All companies wishing to use XTRM Advanced Services must undergo a review as mandated by law. XTRM is regulated similarly to banks to ensure your financial safety and mitigate risk. All provided information is used exclusively for financial and regulatory purposes and will not be used for marketing.