Refreshing Know Your Business (KYB) details is a critical part of ongoing compliance for financial institutions like OFX. When you first register, OFX collects and verifies your details to meet regulatory requirements and assess risk. However, regulations and internal risk frameworks require that this information is kept up to date—not just collected once at onboarding.

Note that if you will not refresh your KYB on time at OFX, please see Why is it required to refresh KYB?.

Next Steps:

To know if you need to refresh KYB, follow these steps:

1. Log into your OFX account:

   • Go to https://www.ofx.com/ and log in with your credentials.

2. Navigate to the dashboard:

   • On the dashboard, a message will appear on your dashboard asking you to confirm your details are up to date. You’ll see a button or link to begin the refresh process.

     

   • Note: You will be prompted to refresh your KYB up to 60 days before your current KYB is due to expire. This message appears when you log in to the OFX platform, especially if you have the “company manage” permission.

   • To start updating your KYB, click the button on the first step displayed in the Verify Your Business section.

3. Start updating your details.

   • Clicking the button on the first step displayed in the Verify Your Business section will take you through a guided journey, similar to the onboarding process. You’ll be asked to review and update your company details, answer KYB questions, review the controller and shareholders of the company and confirm the information is accurate.

     

   • Note: The Controller and Shareholders page will only appear if the company is a ‘Private Company’ or ‘Corporation’.

4. If Your Account is Expired:

   • If you miss the deadline and your KYB expires, your account will be suspended. When you next log in, you will be prompted and immediately forwarded to the KYB refresh journey and must complete it before regaining access.

     

   • At this point the company account is suspended and only until the KYB is refreshed should the services be available again.

5. Complete and Submit: At the end of the process, you’ll confirm your submission, and your KYB status will be updated.

   

Tip: Only users with the appropriate permissions (such as “company manage”) can complete the refresh. If you do not have these permissions, you’ll see a banner instructing you to contact the account owner.

Related FAQ Articles:

• Why is it required to refresh KYB?