Senders & Recipients

Sender Information

The sender is determined during the account creation process, as it is the account owner. Reap runs a "periodic review" process to keep KYB information on-file up-to-date for account owners. Our team will reach out to you for the latest KYB information during that time.

While the sender in the Reap system is the account owner, in the situation of PaaS Reliance programs, this sender is not the same as the payment originator/ultimate sender. The payment originator is the entity that needs to make this payment and providing the original source of funding (e.g. the one whose name is on the invoice as the payor), and would be the Reap's client customer (or potential customer's customer).

For all payments across all payments programs, our Compliance team may at any time request additional information (known as a RFI, "Request for Information") about the payment, the payment originator/ultimate sender, and the relationships between the involved parties (including supporting documentation).

Recipient Information

When you create a payment, you define both the recipient of the payment (known as the receiving party). You will need to make sure that you have correct and complete information for the payment to be successful - if a payment needs to be amended or cancelled, there may be fees that we will need to pass on to you.

Whenever a payment is created, our team does automatic compliance checks on the recipient. Our Compliance team may at any time request additional information (formally known as a RFI, "Request for Information") about the payment and the relationships between the involved parties.