The creation of a Sub-Account account is based on a level system. Each level allows the Sub-Account to process a higher amount per transaction and also increase the total account’s processing limit.
Sub-Accounts are created at Level 1. This level only requires basic information about the Company or Individual that is being registered:
- Full Name (individual) or Company Name
- Country where the Sub-Account is located
This level can be used to test the system and find out its functionalities and allows processing up to USD 10.000.
When the Sub-Account reaches USD 10,000 processed volume, it must send the complete required KYC information for our compliance team to make an in-depth review. The Sub-Account will receive an email asking for the documentation (only for dLocal Managed implementations), and a callback will be sent to the Marketplace with the status change to
PENDING_DOCUMENTATION. When the Sub-Account sends all the required information, the account’s status will change to
PENDING_COMPLIANCE_REVIEW and after being reviewed and approved by our compliance team, the Sub-Account account will be approved to operate with Level 2 limits.
In case the Marketplace has all the KYC information, can send it using the Create account service. In this case, the Sub-Account will be created on
PENDING_COMPLIANCE_REVIEW status and after being reviewed and approved by our compliance team, the Sub-Account will be approved to operate with Level 2 limits.
If the Marketplace is not using dLocal’s Automatic KYC solution, at the first level we won't make any validation and just create the Sub-Account with the information sent by the Marketplace, but when the Sub-Account process more than USD 10.000 we need to make sure that the Sub-Account is legit and fully compliant with our policies, so we will ask for the required documentation. The documentation required for Level 2 must be defined together with our compliance team, taking into account the profile of risk of the industry, country, etc.
Level limit exceed
When the Sub-Account reaches the level limit, it will be blocked and will not be able to process payments. For Level 2, the email/callback warning the Sub-Account will be sent before the Sub-Account reaches the limit (at USD 5.000), to give the Sub-Account enough time to complete the required information.
Updated 5 months ago