CbiPay - offshore account opening - professional cross border financial service provider

FAQ

Money Transfer
You will first need to sign up with us with your email address and password
The account created needs to be “verified”(hyperlink to verification page)
To create a transfer order:
- Choose the currency
- Choose the amount
- Enter recipient’s details
- Confirm details
- Choose payment method
  - Bank transfer - Transfer the funds within the time specified
  - Card - Instant
- Once funds received, it will be converted, screened and transferred
How to get verified?
- Starts from signing up
  - should allow to sign up from google accounts
- Enter full details
  - Legal Name
  - Mobile Number
  - Verify email
- What documents do you need?
  - ID
    - IDs of all the Directors/shareholders that own more than 25%
  - Address
  - SOW
  - SOF
  - Business registration
  - ACRA
  - Details of shareholders
    - Address
  - Business Details
  - Account Manager details
- Explain the process of verification through an API.
- What documents do we accept
- Explain that they need a webcam or to enable camera usage on their phone in order for verification to work
- How long will verification take once we have all the documents
- Look out for any emails from us for further verification
- Create an upload link for customers to upload any SOW/SOF documents or any other EDD
What businesses do we support?
Unsupported businesses and transactions
These businesses and transactions may be declined if they fall into any of the following categories. Despite this listing being representative, it is not exhaustive. We reserve the right to deny service to any customer who exceeds our risk threshold.
- Adult content.
  - a.Pornography or any other visual content showing sexual acts.
  - b.Services of sexual nature (webcam shows, live chats, prostitution, escorts, massage parlors, strip clubs, gentleman’s clubs).
- Alcohol businesses.
- Tobacco products.
- Cannabis.
  - a.Any products containing CBD.
  - b.Any other products or services related to marijuana trade.
- Other substances
  - a.Nootropics supplements.
  - b.Any other drugs that has a similar reaction/effect to illegal drugs
  - c.Anabolic steroids and peptides.
- Drug Equipments
- Pharmaceuticals.
- Chemicals.
  - a.Commodity chemicals.
- Counterfeit or unauthorised goods.
- Gambling.
  - a.Lotteries.
  - b.Fantasy sports with cash prizes.
  - c.Games of chance with cash prizes.
  - d.Sales of in-game currencies by unauthorised vendors.
- Products and services which are not legal in the jurisdiction they are being offered in.
- Jewelry Business
- Financial and other professional services
How long does verification take?
For business accounts, it may take up to 7 business days to fully verify the account. This is provided if the documents are all submitted correctly.
You can check which documents do we need for verification “here”(hyperlink verification page)
For personal accounts, it may take up to 2 business daysays to fully verify the account. This is provided if the documents are all submitted correctly.
You can check which documents do we need for verification “here”(hyperlink personal verification page)
How do you get in touch with us?
You are able to email us at support@paycbi.com.
It will take up to 2 business days for us to get back to you.
Are we regulated?
We are a licensed major payment institution in Singapore. Therefore, we are regulated by the Monetary Authority of Singapore under the Payment Services Act 2019
How do we verify your account?
We will verify your account according to the AML& CFT Policy and Procedure.
Is my money in CBiPay safe?
Yes. We have a safeguarding account in Singapore for the funds we receive from customers.
We are required to have a separate bank account for the means of our operations and business.