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Verifying my business’ source of funds

As part of both our initial and ongoing due diligence requirements, we may need additional information about your business’ source of funds or operating activity.
What’s a source of funds?
This refers to documentary evidence showing us where the funds you forwarded to your Lightyear business account originated from. Information required includes evidence of your business income, including:
  • Amounts and information about the payer
  • Dates of the transactions
  • Your business name and account details
  • Funds moving onwards to Lightyear
This document generally comes in the form of a bank statement from your business account showing your business activity and funds being sent onwards to Lightyear.
What’s the business operating activity?
In short, operating activities relate to the core activities of your business, such as the goods or services it provides. This differs depending on the type of business you run.
Business source of wealth documents we may ask for
This largely depends on your type of business and what its operating activity is.

Operating activity revenue

  • Bank statements from the last 6 months
  • Invoices from the last 6 months
  • Service agreements from the last 6 months
  • Your most recent audited annual report

Business loan or personal financing

  • Loan agreements
  • Bank statements showing the loan arriving and transactions from at least the last 6 months
  • If you’re personally financing your business, you may need to provide information about your personal source of wealth, see Providing source of wealth

Funding and shareholder investments

  • Equity agreements
  • Subscription agreements
  • Bank statements showing the funds arriving and transactions from at least the last 6 months

Investments

  • Share sale certificates
  • Asset sale agreements
  • Bank statements showing the proceeds of the asset sales arriving and transactions from at least the last 6 months
This article relates to business verification, for personal verification see more information in Providing source of wealth
Learn more about company accounts here: Can I open a business account and how do they work?
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support@lightyear.com