If you’re an existing UK customer, you may see a banner in your Moss account asking you to provide Source of Wealth (SoW) information for your company’s Ultimate Beneficial Owners (UBOs).

Due to updated Anti Money Laundering requirements from our Card Issuer TransactPay, we’re required to collect and maintain up-to-date Source of Wealth (SoW) information for the Ultimate Beneficial Owners (UBOs) of our UK customers. In simple terms, this means confirming each UBO has accumulated their personal wealth through legal means.

Moss’s UK card programme is issued by our partner, TransactPay. As part of their regulatory obligations, we’re required to collect Source of Wealth information for all UBOs of UK corporate customers.

If we don’t already hold this information for your account, we’re required to request it now.

When you log into Moss, you may see a banner prompting you to complete this step.

For most customers, this is simply a dropdown selection and short confirmation.

In some cases, we may need to verify the declared Source of Wealth and, therefore, request additional documentation to complete a routine review of your account and ensure everything is up to date. In that case, you will be prompted to upload supporting documents directly to the Moss platform.

Examples of documents to support the declared Source of Wealth may include:

A full list of accepted documents can be found here.

In most cases, just a few minutes.

If additional documents are required, review time will depend on the complexity of the case, but we aim to keep this as smooth and quick as possible.

We are required to hold up-to-date information on the UBOs of our UK-based customers by our UK card provider TransactPay.

If the requested information isn’t provided within the stated timeframe, we may need to apply restrictions to your account and the cards offered to your company until the requirement is fulfilled.

We’ll always notify you before taking any action.

Ultimate Beneficial Owners (UBOs) are natural persons who directly or indirectly hold more than 25% of the shares or voting rights, or who exercise control over a company in a comparable manner, for example, through veto rights. Natural persons who meet at least one of these criteria are considered real UBOs.

If no individual meets these criteria, the senior managing official(s) (i.e., managing director(s) or CEO) to the company is/are designated as so-called notional UBOs (also called fictitious UBOs) for regulatory purposes. We are not required to collect Source of Wealth details for notional UBOs.

Source of Wealth refers to how an individual accumulated their overall personal wealth.

It does not refer to:

Examples include employment income, business sale proceeds, investments, inheritance, or pension income.

This is part of a requirements uplift that is required by our UK card provider TransactPay. TransactPay and all its partners (including Moss) are required to collect and verify the Source of Wealth information for the UBOs of their UK corporate customers.

Yes. Source of Wealth information is required for all real UBOs of UK entities.

Notional UBOs do not require additional information.

If your UBO structure has changed, or if any of the information shown in the Moss platform is incorrect, please update your details using our UBO Update Form before submitting your Source of Wealth information.

You can access the form here.

Please ensure all Ultimate Beneficial Owner (UBO) information is accurate and up to date. You will be able to provide the UBO Source of Wealth details directly within the form. Providing complete and correct ownership information will help us review your submission without delays.

If you have any questions while completing the form, you can contact our Support team via live chat in the Moss platform

Please do not proceed with the submission until the information is corrected.

Update the details in-app or reach out to our Customer Support team so we can help you amend the records. Once updated, you can complete the Source of Wealth step.

No. Upload it once, and we can apply the information to multiple accounts who share the same UBO

Once submitted, the banner in the Moss platform will disappear. We’ll then review the information. If everything is in order, no further action is required from you.

If we need anything further, we’ll reach out directly.

If you no longer see the banner, it means the information has already been submitted. If we need any further information after we have reviewed the submission, we will reach out via email.