Onboarding General FAQs – VelaFi

1. What is VelaFi’s onboarding process?

The onboarding process is divided into Levels 1, 2, and 3. Each level focuses on different types of information: company verification, product activation, and (when applicable) supporting documentation for operational volumes.

You will see each requirement directly in your dashboard, including what is pending, what has been approved, and what additional information may be needed. The process continues level by level until all requirements relevant to your products are completed.

2. Why does VelaFi request documents?

Documents verify your company’s identity, activity, and readiness to use the services you selected.

Each document serves a specific purpose: confirming legal registration, validating your operating address, identifying ownership, and ensuring your product usage matches the capabilities of your business.

3. How long does onboarding take?

The timeline depends on how quickly clear and complete documents are provided for each requirement.

Most companies progress through Level 1 quickly. Level 2 timing varies depending on selected products and the jurisdictions involved. Levels are completed faster when documents are legible, recent, and consistent.

4. What happens if something is missing or unclear?

You will receive a Request for Information (RFI), which specifies exactly what needs to be updated or clarified.

RFIs do not reset your progress. You only need to provide the exact items listed, and once uploaded, onboarding continues from the same point.

5. Will VelaFi reject a business?

A business may be declined if its activity does not fall within permitted uses or if essential information cannot be validated.

When this occurs, you will be informed of the general reason for the decision and whether re-applying is possible in the future.

6. Can VelaFi help me understand required documents?

Yes. Each requirement in the dashboard includes examples, acceptable formats, and optional alternatives when available.

If a document type varies by country, additional guidance is provided to help you select the appropriate version.

7. Why is identity verification unavailable in my region?

Our KYC/KYB eligibility is determined by your official country of residence or business registration, rather than your temporary physical location. However, for regulatory compliance and security reasons, automated identity checks cannot be completed from unsupported or restricted regions, and using VPNs or proxies to bypass these checks is strictly prohibited.

If you are currently traveling in a restricted region: Please complete your verification once you return to your home country (or a supported region).
If your residence/business is based in an eligible country: Please provide proof of legal address/registration so our team can review your case manually.
If you are currently traveling in a restricted country: Please provide your tourist visa or transaction screenshot. Traveling payments in restricted countries will be supported after review of the supported documents. A specialist will review your details and follow up via email with any applicable options.