Why does Dwolla require a physical address to create a customer?

Why does Dwolla require a physical address to create a customer?

• May 10, 2024
• Knowledge

Information

Title
Why does Dwolla require a physical address to create a customer?

Summary
When creating a Personal Verified Customer or a Business Verified Customer, a physical address for the business or individual is required. For a business account, the address provided needs to be the primary address for which business is conducted. Dwolla requires a physical address in alignment with our own KYC/CIP policies and procedures.

A physical address must include the house or building number, apartment or suite number if applicable, street name, city, state and zip code. Below are a few examples of non-physical addresses that Dwolla is unable to accept for account verification:

• PO Box, shipping point, or mail receiving agent/registered agent addresses are unable to be accepted for account verification purposes. PO Box addresses are not accepted for account verification, as a business is not able to be operated via a PO Box and an individual can not live at a PO Box address.

• A registered agent address is for the purpose of a business or individual designated to receive service of process when a business entity is a party in a legal action such as a lawsuit or summons, and cannot be accepted for account verification purposes.

• "Virtual Office" addresses are also not accepted for account verification purposes.

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