ApprovalMax Pay Wallets are provided through our regulated payments partner, Currencycloud. To comply with anti-money laundering (AML), sanctions, and financial crime regulations, some payments may be selected for additional compliance review before processing.
Being asked for more information does not necessarily mean there is a problem with your payment. It simply means additional checks are required before the payment can be released.
Why a payment may be reviewed
Most payments are processed without any manual intervention. However, some payments may require additional review, for example, if they:
are unusually large or outside your normal payment pattern;
involve countries, businesses, or recipients that require additional due diligence;
require further verification to satisfy regulatory requirements.
During this review, you may be asked to provide additional information or supporting documents.
What information might be requested?
Depending on the payment, you may be asked to provide information about:
the sender;
the recipient;
the relationship between the sender and recipient;
the purpose of the payment;
the source of the funds being used.
Supporting documentation may also be requested, such as:
proof of identity;
proof of address;
company registration documents;
proof of business (for example invoices, contracts, purchase orders or shipping documents);
director or shareholder registers;
source of funds documentation (for example bank statements or business financial statements);
source of wealth documentation, where applicable.
Document requirements
To help avoid delays, make sure any documents you provide:
are submitted as PDF files;
have been issued within the last three months, where applicable;
are clear, complete, and legible.
Screenshots, email chains, Word documents, Excel files, and similar formats are generally not accepted.
How long does the review take?
Once the requested information has been submitted, it is reviewed by Currencycloud and, where necessary, their banking partners.
Please note that after Currencycloud responds to a request for information from a banking partner, status updates may take up to five working days. During this period, ApprovalMax cannot provide further updates until the banking partner has completed its review.
Can I speed up the process?
Providing complete and accurate information as early as possible helps minimise delays.
If additional information is requested:
respond promptly;
provide all requested documents together;
include any relevant information that helps explain the purpose of the payment or the relationship between the parties.
The more complete your response, the quicker the review can usually be completed.
What happens if my payment is declined?
In some cases, a payment may be declined if:
it involves a non-permitted activity;
it relates to a restricted jurisdiction;
there is insufficient information to complete the required compliance checks.
If your payment is declined, you'll be notified through ApprovalMax. Depending on the reason, you may be able to submit additional information or create a new payment once the issue has been resolved.