Alt requires all customers, or business entities, that transact on the platform to verify their identity. This is required by law to be completed by financial technology platforms.
Security and privacy are paramount to a trusted relationship, which is why Alt works with a third party company, Persona, and does not store any of your personal information. Persona is certified to the highest industry standards and committed to protecting the privacy of our customers. You can learn more about Persona's security practices here.
Important Notes:
Only US businesses are allowed to complete verification at this time.
Any beneficial owners of the business (more than 25%) will also need to verify their identity.
Alt Support can initiate business verification for a previously verified personal account, or a new unverified account once the process is ready to be started by the user.
Personal verified Alt accounts that wish to verify as a business will be unable to perform account actions for up to two business days while in review.
Verified Alt business accounts will not be able to link or transact with personal bank accounts. The name on the linked bank account must match the verified name on your Alt account.
To verify your business account, you will need:
To be at least 18 years old
To provide business exemption status
To provide the name of your business
The legal entity name should:
Match the formal registration documentation of the legal entity
Match the name on the business bank account you use to fund your account with Alt, otherwise you may experience issues when funding your account
A business EIN
A business address
Proof of address (an official document that includes the business name, address, and date. This will be used to match public records.)
To provide beneficial owners (more than 25%, add up to 4 owners.)
To provide controlling manager of business
Once the above requirements are completed, any beneficial owners must verify their identity, and then a review will take place confirming the information provided within two business days.
Frequently Asked Questions:
What is required to apply?
A: We'll ask for information about your business and the ownership of your business.
How is my information kept secure?
A: Security and privacy are paramount to a trusted relationship, which is why Alt works with a third party called Persona and does not store any of your personal information. Persona is certified to the highest industry standards and committed to protecting the privacy of our customers. You can learn more about Persona's security practices here.
I'm in the process of registering my business, so I don't have the registration documents yet, can I still apply?
A: Your business must be fully registered, and have the documents needed to complete an application in order to be eligible for a business account.
Why does the application ask for the individuals with managerial control of my business?
A: Alt is required to collect and verify information about our customers. This includes directors, officers, and beneficial owners for our business customers.
When will I know if my application has been approved?
A: You can always check your application's status by messaging support@alt.xyz. Once approved, you will receive an email via the email address entered during account creation.
Can I add more than one user to my account?
A: Multi-user access for businesses is available. You can request to add multiple users by messaging support@alt.xyz.
For any questions, please contact support through the messenger located in the corner of your browser or reach out to support@alt.xyz.