The below documents and information will be required in order to complete the KYC verification process for your Organization.
Such information and documents are collected in order to complete the verification process because Webconnex Payments follows required financial regulations to assure any person or organization processing payments will not be misusing the funds or causing harm. Documents provided will be checked against official records.
NOTE: If you file your taxes for your business under an EIN (Employer Identification Number), then you are an Organization. If you happen to file your taxes with an SSN (Social Security Number) then you are a Sole Proprietor.
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Prepare the Following Information + Documents
Company Details
Country where your business is located
Legal name of the company - Enter the name exactly as it appears on your Secretary of State Registration
Select your Company Structure
Private Company
Owned privately. The shareholders don't necessarily trade on public exchanges (like the stock market)
Public Company
Owned by the public shareholders. They're also required to disclose financial information to the public
Incorporated partnership
An agreement between two or more people who run a business together
Non-profit or charitable organization
An organization that has an official status as not for profit or tax exempt, sometimes called an NGO
Governmental organization
Owned by the government or state
Incorporated association
A registered entity without profit that's organized around a purpose such as recreation, culture or a charity
Enter the DBA (Doing Business As) name or mark you do business as your legal company name
Enter EIN (Employer Identification Number)
Address - Enter it as it appears on your Secretary of State Registration documentation
NOTE: If you selected that you are a Public Company, you will be asked to provide the following registration details:
DBA (Doing Business As) name or mark you do business as your legal company name
Market identifier code (MIC)
International Securities Identification Number (ISIN)
Decision Makers
You will be asked to provide the information of the owners, controlling persons, and signatories in your company. Keep in mind that one person may hold multiple roles. The requirements are as follows:
Controlling person - Provide 1 controlling person - The controlling person is someone authorized to make major business decisions. They may or may not be an owner.
Owner - Add all owners holding 25% or more of your company - Owners are those who own 25% or more of the company, through voting rights, equity or similar.
Signatory - Add at least 1 signatory - Is someone who has been given authority to sign official documents on behalf of the company. usually a signatory is also an owner or a controlling person.
For the Decision Makers you will enter the following info
Role - Select whether they are a Controller, Owner or Signatory
First + Last Name
Date of birth
Country of residence
Last 4 digits of their Social Security Number (SSN)
Job Title
Personal Address
Payout Details + Verification Methods
Option 1: Trustly (recommended option)
Trustly is our trusted partner helping speed up your account setup by instantly verifying your bank account. You would simply select and login to the bank where you would like to receive the payouts and wallah, you're done!
NOTE: Webconnex Payments will only gain temporary access to your bank details, and your data is never shared with third parties.
Option 2: Manual Verification
The manual verification method will ask that you enter the Account Holder Name, Account Number and ACH routing number for the bank account where you would like to receive your payouts. The bank account holder has to have the same name as your company.
Then you will be asked to upload one of the following documents. Upon doing so, you'd upload one file either JPG, JPEG, PNG, PDF Size up to 4MB on one page. The file must contain images that are not cut off, blurry or expired.
Bank Statement
Your uploaded bank statement must contain the following information:
Account holder name on the document has to match the legal business or trading name of your company
The account number needs to be visible
The routing number should be visible
Date on the document is no older than 12 months
Must be an official bank document that shows the bank logo, the bank name, or a bank-specific font
Deposit ticket / deposit form
Your uploaded deposit ticket / deposit form must contain the following information:
Account holder name on the document has to match the legal business or trading name of your company
The account number needs to be visible
The routing number should be visible
Date on the document is no older than 12 months
Must be an official bank document that shows the bank logo, the bank name, or a bank-specific font
Must have a bank stamp or bank signature
Screenshot of online banking environment
Your uploaded screenshot of online banking environment must contain the following information:
Account holder name on the document has to match the legal business or trading name of your company
The account number needs to be visible
The routing number should be visible
Date on the document is no older than 12 months
Must be an official bank document that shows the bank logo, the bank name, or a bank-specific font
Official email or a letter from your bank
Account holder name on the document has to match the legal business or trading name of your company
The account number needs to be visible
The routing number should be visible
Date on the document is no older than 12 months
Must be an official bank document that shows the bank logo, the bank name, or a bank-specific font
Must have a bank stamp or bank signature
Sign Documents
The last step in the verification process is to sign the official-documentation.
Sign the services agreement
Sign the PCI DSS questionnaire