Account Purpose

Purpose	Description	Acceptable value
Pay suppliers	Businesses that need to pay their suppliers for goods or services they purchase.	`PAY_SUPPLIERS`
Pay service providers	Businesses that make payments to contractors or service providers (like consultants, agencies, or maintenance services).	`PAY_SERVICE_PROVIDERS`
Pay for goods / merchandise / commodities	Businesses engaged in purchasing or selling physical goods, merchandise, or commodities.	`GOODS_MERCHANDISE_COMMODITIES`
Pay freelancers/contractors/payroll	Businesses paying employees, freelancers, or contractors for their work.	`FREELANCERS_CONTRACTORS_PAYROLL`
Pay for financial services / loans / investments	Businesses offering financial services, loans, or investment opportunities.	`FINANCIAL_SERVICES_LOANS_INVESTMENTS`
Pay taxes or regulatory fees	This purpose applies when the business needs to pay taxes or regulatory fees to government agencies.	`TAX_REGULATORY_FEES`
Pay for legal services	Businesses or individuals paying for legal services.	`LEGAL_SERVICES`
Pay for operational expenses	Businesses paying general expenses necessary for day-to-day operations, such as utilities, rent, or office supplies.	`OPERATIONAL_EXPENSES`
Pay subscriptions	Applies to businesses paying recurring payments for subscriptions (e.g., software as a service, memberships, or media subscriptions).	`SUBSCRIPTIONS`
Pay for travel related expenses	For businesses paying for travel services (flights, hotels, transportation, etc.).	`TRAVEL_RELATED_EXPENSES`
Pay for insurance	For businesses paying insurance premiums or dealing with insurance-related transactions.	`INSURANCE`
Pay advertising and marketing expenses	This category involves businesses paying for advertising or marketing services, such as digital campaigns, print ads, partnerships, etc.	`ADVERTISING_MARKETING_EXPENSES`
Pay for equipment or machinery	Businesses making payments involving the purchase or lease of equipment or machinery used in business operations.	`EQUIPMENT_MACHINERY`
Pay for technology services	Businesses making payments related to software development, IT services, or cloud computing services.	`TECHNOLOGY_SERVICES`
Pay for education related expenses	Businesses making payments related to education services, such as tuition fees, courses, or training programs.	`EDUCATION_RELATED_EXPENSES`
Pay for treasury payments	Businesses making payments involving the movement of funds within a company’s treasury, including inter-company transfers or liquidity management.	`TREASURY_PAYMENTS`
Pay for FX services	Businesses making payments that involve conducting foreign exchange transactions or currency conversions.	`FX_SERVICES`
Other	For business purposes that don't fit the other categories. If a business purpose doesn’t fall under the defined categories, it can be classified as “Other” and still undergo the KYC process for due diligence.	`OTHER`
Collect from online market places	Businesses that collect funds or payments from online marketplaces (e.g., e-commerce platforms like Amazon, eBay, etc.).	`ONLINE_MARKETPLACE_TRADING`
Collect from offline trade	Businesses that engage in offline trade (e.g., retail transactions, in-person sales, or traditional markets).	`OFFLINE_TRADING`