Compliance Verification
📄 What Are Chariot Deposit Accounts?
Chariot Deposit Accounts are Demand Deposit Accounts (DDAs) provided through our bank partner, Column N.A., Member FDIC.
🔐 How Chariot Ensures Secure, Compliant Account Setup
Because of this bank partnership, Chariot is held to stringent compliance requirements. Our compliance program is bank-grade, which necessitates many layers of diligence and security checks during the onboarding process (e.g., providing sensitive information on your organization and its control people). We work hard to limit these requests to only what is absolutely necessary to remain fully compliant with our banking partner and all applicable regulatory requirements. We also partner with industry leaders in security and identity management to protect your information at every turn.
👤 Control Person Requirements
You will need a Control Person's information (i.e., Full Legal Name, Date of Birth, Residential Address, Legal Status in the U.S. and Social Security Number) to complete the Chariot Deposit Account creation process.
A Control Person is an individual with significant responsibility to control, manage or direct your nonprofit organization or financial operations (e.g., C-Suite, VP of Finance, etc.). They may be listed on your IRS Form 990 or have signatory authority.
See 🔐 Why is it necessary to provide the Control Person’s personal information?
✅ KYC and KYB Verification Process
Chariot runs extensive KYC and KYB checks on your organization before your account set up can be finalized. This diligence can typically be done automatically, but if any issues or mismatches are identified, we may have to request additional documentation. You will be alerted if anything more is required.
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