Remittance companies
Crypto OTC desks
Bitcoin ATM operators
ATM operators
Small businessesHow onboarding works at Invincible Pay.
Onboarding with Invincible Pay is an online application that takes about 20 minutes. You're usually approved within 3 business days and processing payments within 5, once we have your documents.
In the video
FINTRAC MSB C100000702Bank of Canada PSP registryWe reply within 24 hours on business days
Why opening a payment account takes months elsewhere
For money services, crypto and high-risk businesses, other payment providers typically take up to 3 months. They slow you down with compliance questions that come in rounds, and a typical bank won't even attempt a decision.
Time to a decision, typically
Other providers and banks: typical of the market, not any one provider.
What we do differently
Our questions come with your application
You answer them as you apply, so they don't arrive in rounds over the following weeks.
One person tells you what's missing
Your account manager follows your application and tells you exactly what we still need.
We work with your industry
Money services, crypto and high-risk businesses are who we built for. We ask about your own controls and your customers, then decide.
Usually a decision within 3 business days
Once we have your documents, you usually hear back within 3 business days. Sending everything on the list at once is the quickest way through.
From application to your first payment
Here's what you do at each stage, what you'll see and how long it takes.
About 20 minutes
You apply online
Choose your account type, create your login and verify your email and phone with a 6-digit code. Then add your business details and answer a few due diligence questions.
Each director and officer, and anyone who owns or controls 25% or more of the business, verifies their identity online through the same registration link.
Usually within 3 business days
You get a decision
We review your application and tell you if anything is missing. Businesses get their agreement for signature at the same time, so the paperwork runs alongside the review.
If we need more, it's usually a recent statement showing where your funds come from, a corporate registry extract, or an ownership chart that goes down to the people who own the business.
Within 5 business days
Your wallet opens
A welcome email brings your access details.
Your wallet opens with its own institution, transit and account numbers, so clients and partners can pay you by EFT or direct deposit.
What we'll ask for, by account type
Pick your account type. Having these ready before you apply is the quickest way through.
Money services and crypto businesses
You onboard customers of your own, so we take a closer look at how you run compliance. This is called enhanced due diligence (EDD).
In practice it's the checklist on this page, and your account manager goes through it with you.
Crypto businesses that deal in virtual currency are MSBs too, and answer the same questions. See payments for crypto businesses.
What we'll ask for
- Your FINTRAC registration and the services you're registered for
- The people behind the business: each director, officer and anyone owning or controlling 25% or more verifies their identity online
- Your AML compliance policy: the full, current version, with its date and the person responsible for it
- How you onboard your customers: the steps, how you verify identity and what you collect before they can transact
- How you review your customers' transactions: your thresholds, alerts and manual reviews, and how you escalate unusual activity
- A compliance contact: their name, email and phone, and your confirmation that you'll answer our compliance questions within 24 hours
High-risk businesses
We accept high-risk industries. What we look at is your product, how you treat your customers and your history with other processors.
iGaming operators also tell us about their gaming licence and how they verify players. See payments for iGaming operators.
What we'll ask for
- What industry you're in, and where you sell
- What you sell, and what your customers are paying for
- How customers deal with you: how they sign up, pay you and get in touch
- How money will move: what comes in, what goes out, and roughly how much each month
- Your history with other processors, including your chargeback rates
- The people behind the business: each director, officer and anyone owning or controlling 25% or more verifies their identity online
Everyday businesses
Shops, trades, agencies and other everyday businesses register online and answer a few short questions about the business.
There's no FINTRAC registration or compliance policy to send.
What we'll ask for
- The people behind the business: each director, officer and anyone owning or controlling 25% or more verifies their identity online
- What your business does: what you sell, who your customers are and how you take payment today
- Your expected volume: the monthly value and number of transactions
- Where the money comes from: the source of the funds that will move through your wallet
- A contact for account and compliance questions
Individuals
You open a personal wallet online, in your own name, as the first steps of the video show.
Then you can send up to $25,000 per transfer, with no daily limit.
What we'll ask for
- Your login: a username, your email and a password
- Your email and phone, each confirmed with a 6-digit code
- Your identity, checked online as you sign up
After you're approved, someone stays with you
Your account manager sets up your payments with you before any money moves, and stays your contact after that.
- Your flow of funds, mapped with your account manager before your first payment: who pays you, how, and where the money goes next
- Your first payments. Receive without limits, and send up to $25,000 per transfer, with no daily limit
- One contact for questions about a payment, your setup or adding a rail
- When something changes, such as a new owner or a new service, tell your account manager and they update your setup with you
Onboarding questions, answered plainly
Start your onboarding with us
Talk to our team first and we'll go through the list for your account type. We reply within 24 hours on business days.