Requests for Information

Effective Date: March 26, 2025

Definition
As a Financial Institution (FI), Rail is part of a global network of interconnected companies facilitating payments. Every FI involved in the movement of money is required to understand its customers (KYC), corporate customers (KYB) and transactions (KYT). When questions arise related to any of those aspects, we issue a Request for Information (RFI) to gather the necessary details to resolve them.

Resolving RFIs in a timely manner is required for all Rail clients as it is critical to maintaining compliance with our partner network.

How RFIs work

1. As a participant in financial transactions, you may receive an RFI from us.
2. It is your responsibility to respond to RFIs in a timely manner with complete, relevant information.
3. You may be able to resolve the questions yourself, or may need to pass them on to your customers to collect the appropriate information.

Types of RFIs
There are three main types of RFIs you will receive from us: Transaction, Compliance, and Onboarding. The first two are urgent, and considered Critical RFIs while the third is driven by your deadlines.

• Critical RFIs must be responded to quickly with complete, relevant information.
  • Transaction RFIs: questions about a specific transaction that’s in flight or has already been completed.
  • Compliance RFIs: about a specific company / individual - We need more information to resolve an ambiguity about an existing company or individual.
• Onboarding RFIs are driven by your deadlines.
  • A new company / individual - We’re trying to help you resolve a problem while onboarding a new customer for you.

Detailed Requirements for Managing RFIs

• Provide a regularly monitored email address for RFIs. Many companies use something like RFI@your.domain.name and point it into a ticketing system. Others use a mailgroup with several people in it.
• We require a response within two business days to rfi@rail.io for Transaction and Compliance RFI’s.
  • Ideally, you’ll have supporting documentation for each of the questions.
  • Transactions may be on hold until you resolve the issue.
  • If you’re waiting for your customer to respond, you still need to engage Rail within the time limit. Give us what you have and tell us what you’re expecting and when.
• You will get automated followups after the two days.
• If Rail does not have an adequate response after 5 business days, we will freeze the Customer account .
  • Keep us informed — if you’re engaged and actively working with us, we may extend the deadline before freezing the account.

If you’re unable to respond to RFIs effectively, Rail may reevaluate your risk profile and client relationship. We cannot compromise our partners and providers due to a Client failing to manage its Customers.
Thank you for your understanding and partnership.