If you are receiving monthly invoices for KYB (Know Your Business) checks, it is because these checks are billed separately from your annual subscription package. Below is a detailed explanation of how KYB checks are billed and why they appear as additional charges:
What are KYB Checks?
KYB checks are used to verify company entities by identifying directors, shareholders, and other relevant details. These checks are typically required for businesses or organizations that need additional verification beyond standard processes.
How Are KYB Checks Billed?
Separate Billing: KYB checks are not included in the annual subscription package. While your annual payment covers standard services (e.g., a set number of listings), KYB checks are considered an add-on service.
Monthly Invoicing: Charges for KYB checks are invoiced on a monthly basis, separate from your annual subscription invoice. This ensures that you are only billed for the KYB checks you use.
Cost of KYB Checks
Per Unwrap Fee: Each KYB check costs $37.50 per unwrap. This fee applies whenever a company entity is unwrapped for verification purposes.