Home Learn Knowledge-Hub: FAQ FAQ: Banking If we are doing a balance check, do we also need to do a bank account verification? I think the balance check may be sufficient. Please advise. If we are doing a balance check, do we also need to do a bank account verification? I think the balance check may be sufficient. Please advise. Bank account verification needs to be done once. A balance check can be done anytime. —This page was last updated on January 18, 2023.– Related posts: Since our company is about to obtain a Labuan Money Brokering license, may I know whether it is sufficient to use this license to apply to be a Registered Agent (RA) under an EMI holder? Does the Bank Account Verification also include ID verification? Can we have a legal company name and then have a separate name (register a “doing business as”)? Is that allowed? Bank Account for Check Cashing Business Do you think an ACH can be rejected (incurring reject fees) if we verify the balance ahead of time? Share with others...