What does the account opening process look like?
Opening an account with Mayfair is designed to take as little as ten minutes.
We'll first ask you questions about yourself, your business, as well as any other primary owners (individuals who own more than 25% of the business) to satisfy both KYC ("know your customer") and KYB ("know your business") requirements.
You'll also be asked to submit photos of a valid, unexpired piece of identification for yourself and a selfie with that piece of ID. You'll also need to upload scans of a valid, unexpired ID for any additional owners, but they will not be required to submit a selfie.
Finally, you'll be invited to connect an existing bank account, from which your Mayfair cash account is typically first funded. No deposits occur at this point; this simply helps us further verify and secure your eventual account with us. Once done, you'll hear from us within two business days regarding the status of your application, including whether we need any additional documentation.