Introduction to Member

Member is a person that is associated to a business or a family.
Introduction to Member
 last updated: 
December 15, 2021

Member (previously called Owner) is an individual that is associated to a business or a family. A Member also needs to go through a KYC process (just like a person) if the Member owns 25 percent or more of a legal entity (beneficial owner. In order to comply with beneficial ownership information requirements, financial institutions have to identify and verify the identity of any individual who owns 25 percent or more of a legal entity (beneficial owner), and any individual who controls the legal entity (control person).

Note: Owner API will continue to work and have exactly the same functionality as Member, but we suggest updating them to Member.