Transaction Monitoring

To adhere to BSA/AML policies, PayQwick monitors all transactions and may require Supporting Documentation.

Please note that if PayQwick requests Supporting Documentation for a transaction, it will be placed on hold until the documentation is received and approved.

To expedite processing time, PayQwick recommends that Supporting Documentation is provided for every deposit/payment that is to/from a third party.

A few scenarios where documentation is recommended:

  • Time Sensitive Transactions: We recommend always providing documentation for anything time sensitive to counteract any delays.  Any transaction requiring supporting documentation will be put on hold.
  • Outgoing Wire Transactions over $10k.

Most common types of Supporting Documents:

  • Invoices
  • Licenses
  • Agreements/Contracts
  • Email Threads