Glossary:

KYB

Read more about the meaning of "KYB" or "Know Your Business" and its importance in compliance when it comes to opening financial accounts, escrow accounts or high-interest deposit accounts.

Related Words

KYC

Read more about the meaning of "KYC" or "Know Your Client" and its importance in compliance when it comes to opening financial accounts, escrow accounts or high-interest deposit accounts.

KYT

Read more about the meaning of "KYT" or "Know Your Trust" and its importance in compliance when it comes to opening financial accounts, escrow accounts or high-interest deposit accounts.

Source of Funds

Read more about the meaning of "Source of Funds" and its importance in compliance when it comes to opening financial accounts, escrow accounts or high-interest deposit accounts.

Source of Wealth

Read more about the meaning of "Source of Wealth" and its importance in compliance when it comes to opening financial accounts, escrow accounts or high-interest deposit accounts.

UBO

Read more about the meaning of "UBO" or "Ultimate Beneficial Owner" and its importance in compliance when it comes to opening financial accounts, escrow accounts or high-interest deposit accounts.

KYB

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Resources

More from the Escrow & TPMA Glossary

Our glossary of terms of art in the world of escrow and third-party managed payments

E

Escrow

Read more about the meaning of "Escrow" and how it can add transparency, security and trust in high-value, complex or long-term transactions.

Escrow Agent

Read more about the meaning of an "Escrow Agent" and how they are increasingly used in complex, high-value or long-duration transactions.

K

KYB

Read more about the meaning of "KYB" or "Know Your Business" and its importance in compliance when it comes to opening financial accounts, escrow accounts or high-interest deposit accounts.

KYC

Read more about the meaning of "KYC" or "Know Your Client" and its importance in compliance when it comes to opening financial accounts, escrow accounts or high-interest deposit accounts.

KYT

Read more about the meaning of "KYT" or "Know Your Trust" and its importance in compliance when it comes to opening financial accounts, escrow accounts or high-interest deposit accounts.

Source of Wealth

Read more about the meaning of "Source of Wealth" and its importance in compliance when it comes to opening financial accounts, escrow accounts or high-interest deposit accounts.

P

Project Bank Account

Read more about the meaning of "Project Bank Account" and how they can be used in construction projects to reduce risk to the client and the supply chain, and deliver cost savings.

S

Security for Expenses

Read more about the meaning of "Security for Expenses" in a party wall context and what they are used for when a building owner is considering building works.

Source of Funds

Read more about the meaning of "Source of Funds" and its importance in compliance when it comes to opening financial accounts, escrow accounts or high-interest deposit accounts.

Source of Wealth

Read more about the meaning of "Source of Wealth" and its importance in compliance when it comes to opening financial accounts, escrow accounts or high-interest deposit accounts.

T

TPMA

Read more about the meaning of "TPMA" or "Third-Party Managed Account" and how many professional services providers are now using them to hold and manage client funds securely and transparently.

Trust Protector

Read more about the meaning of "Trust Protector" and its importance in compliance when it comes to opening financial accounts, escrow accounts or high-interest deposit accounts.

Trustee

Read more about the meaning of "Trustee" and its importance in compliance when it comes to opening financial accounts, escrow accounts or high-interest deposit accounts.

U

UBO

Read more about the meaning of "UBO" or "Ultimate Beneficial Owner" and its importance in compliance when it comes to opening financial accounts, escrow accounts or high-interest deposit accounts.