What to Expect: Key Information and Documentation Requirements
Worth is committed to maintaining the integrity of the financial ecosystem, ensuring the safety of our users and the broader business and consumer communities they serve. This commitment is upheld through diligent credit underwriting—a meticulous process designed to thoroughly understand each user’s business model, assess financial health, and evaluate potential credit risks.
Our rigorous approach to credit underwriting is essential not only for business due diligence but also to comply with federal regulations aimed at combating terrorism financing and money laundering. Under these regulations, all financial institutions are mandated to obtain, verify, and record information that identifies each person who opens an account. This means that when you initiate an account with Worth, we will require your name, address, date of birth, and other vital information that helps in verifying your identity. We may also request additional documents, such as your driver's license or other valid identification.
The underwriting review process at Worth is comprehensive. Expect a thorough examination of your business model, an analysis of your financial history and stability, and an assessment of your business reputation, among other criteria. To facilitate this, Worth will need you to provide the most current and relevant financial documents, including bank balances, profit and loss statements, and balance sheets from previous years. This meticulous process ensures that we not only understand the intricacies of your business but also safeguard it and the wider community against financial risks and illicit activities.