Overview
Before you can use an Iron Virtual Account, Iron needs to verify your identity. This is called KYC (Know Your Customer), and it's a regulatory requirement Iron must meet to offer payment services.
Verification happens once. Once you're approved, you can use your Virtual Account without re-verifying — unless something later triggers additional review (for example, reaching a transaction limit or a change in your risk profile).
This article covers what's required, what to expect, and how to fix issues if something goes wrong.
Standard verification
If you're based in the US, EEA, UK,, or a low-risk country, you'll go through standard verification. You'll be asked for:
Basic personal information — full name, residential address, date of birth, nationality, email, and phone number
A government-issued ID — passport, national ID card, driver's license, or residence permit
A liveness check — a quick selfie capture compared against your ID to confirm it's you
A short questionnaire — what you'll use Iron for, employment status, annual income, source of wealth, and your expected monthly transaction count and value
Most people complete standard verification in under 5 minutes.
US-specific requirement: SSN
If you're a US citizen or resident, you'll be asked to provide your Social Security Number (SSN) during verification. This is a regulatory requirement for US-based customers.
Enhanced verification (EDD)
In some cases, you'll need to complete Enhanced Due Diligence — a deeper version of standard verification. This is required when:
You're based in a higher-risk jurisdiction
You're 67 or older and based in a medium-risk jurisdiction
You want to transact larger amounts than the standard tier allows
Your partner has set up EDD as a default for their customers
On top of the standard requirements, EDD asks for:
Approximate net worth
Industry you work in
Source of wealth proof — bank statements, payslips, sale proceeds, loan agreements, or other documented income
Proof of address (if not already provided)
EDD takes a bit longer than standard verification but removes the standard annual limit (transactions remain subject to ongoing review).
Accepted ID documents
Passport
National ID card
Driver's license
Residence permit
Your ID must be valid, in date, clearly readable, government-issued, and show your photograph. Photos must be sharp — blurry or partial scans are a common cause of rejection.
What happens after you submit
After you submit your verification, Iron's compliance team reviews the information. Typical turnaround is 24 to 48 hours, though some cases are approved instantly through automated checks.
Your verification can be in one of these stages:
Submitted, awaiting review — your documents are in the queue. No action needed
Under compliance review — a reviewer is checking the details
Approved — you can now use your Virtual Account after signing any required documents
Needs more info — something was missing or unclear, and you'll be asked to resubmit. Iron's reviewers usually include a note explaining exactly what's needed
Declined — verification couldn't be completed. You'll receive a reason and, where possible, the option to retry
Tip: If you're asked to resubmit, read the reviewer's note carefully — it tells you exactly what to fix (often just a clearer photo or a more recent address document).
After approval
Once approved, you'll usually be asked to sign a short set of required documents (Terms of Use, customer agreements) before your Virtual Account is fully active. After that, your account is ready to receive deposits.
Your status can revert from active back to "verification needed" if Iron's compliance team requires additional review later — for example, if you've reached a transaction limit that triggers EDD, or if there's an unusual activity flag. You'll be prompted to provide what's needed, and your account will be reinstated once approved. If a transaction is paused because you’ve hit a limit, submit the requested documents within 24 hours — otherwise the transaction is rejected and returned, and you’ll need to retry it once your limit is raised.
FAQs
How long does verification take?
How long does verification take?
Most standard verifications are approved within 24–48 hours. EDD can take longer, depending on the required documentation.
What if my verification gets declined?
What if my verification gets declined?
You'll receive a reason. In many cases you can fix the issue (for example, a clearer photo or an updated address document) and resubmit. If the decline is policy-based (e.g., your country isn't supported), the partner support team can confirm next steps.
Can I update my address or other details after verification?
Can I update my address or other details after verification?
Yes, but updates that affect compliance (address, name, ID) may trigger a re-verification. Use the chat button in the bottom-right or contact your partner's support team to start the process.
Why am I being asked for additional documents after I was already approved?
Why am I being asked for additional documents after I was already approved?
This usually means a compliance action has been triggered — for example, you've hit a transaction limit that requires Enhanced Due Diligence, or there's an updated Terms of Use to sign. Provide what's requested, and your account will be reinstated.
Why am I being asked to verify with Iron instead of my partner app?
Why am I being asked to verify with Iron instead of my partner app?
Iron handles regulated activities like Virtual Account issuance, so verification has to be completed against Iron's compliance standards. The partner app surfaces the flow, but Iron is the entity that approves it.