Verification statuses

The lifecycle of account holder verification, from NotStarted through to a final Verified or Refused.

Statuses

Account holder verification status	Explanation
NotStarted	Verification process hasn't started yet. The account holder's legal representative needs to complete identification before starting account holder verification. Next steps: When verification starts, the status moves to Pending.
Pending	Swan is reviewing the account holder's information before activating or refusing the account. Next steps: If Swan needs something from the account holder, the status moves to WaitingForInformation. If the review succeeds, the status moves to Verified. If Swan won't onboard the account holder, the status moves to Refused.
WaitingForInformation	Swan is waiting for information from the account holder, such as a first transfer, supporting documents, or something else. Next steps: When the account holder provides the missing information, the status returns to Pending. The status can also move directly to Verified or Refused.
Verified	Swan verified the account holder and the process is complete.
Refused	Swan won't onboard this account holder.

Waiting for information requirements

If the account holder verification status is WaitingForInformation, the account holder must meet one or more of the following requirements. Check the Dashboard or call the API to learn which requirement they're missing.

Requirement	Explanation
FirstTransferRequired	Account holder needs to send a first transfer to their Swan account.
LegalRepresentativeDetailsRequired	More information is required about the account's legal representative, or about the account member acting as the legal representative with Power of Attorney.
OrganizationDetailsRequired	More information is required about the organization.
SupportingDocumentsRequired	Provide the requested supporting documents.
TaxIdRequired	Provide the Tax ID for both the account holder and the organization.
UboDetailsRequired	More information is required about the organization's ultimate beneficial owner or owners (UBO).
Other	Swan contacts your account holder directly about additional requirements.

To see how the actors interact during verification, review the sequence diagram on the verification concept page.