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Required verification information for US businesses

Required information

Business information

If your business is registered in the US, then you need to provide the following information:

  • legal name
  • trading name
  • legal entity type
  • registered address
  • principal address
  • Employee Identification Number (EIN)
  • financial information (annual processing volume, highest transaction value, average sales price)
  • company Ultimate Beneficial Owner's (UBO) personal information and proof of identification
  • authorized signatory

Authorized signatory and Ultimate Beneficial Owner

You must assign one representative as an authorized signatory. An authorized signatory is the key decision-maker for the business. The assigned authorized signatory may also be an Ultimate Beneficial Owner (UBO). Therefore, two possible role combinations are:

  • an authorized signatory who is a UBO, and up to three other UBOs, or
  • an authorized signatory who is not a UBO, and up to four UBOs

If you are a sole trader registered in the US, then you need to provide the following information:

  • your first and last names
  • trading name
  • Social Security Number (SSN)
  • registered address

Bank account information

You will need to add a bank account to get paid, regardless of your business type.

For example if you are adding a US/USD bank account, then you need to provide the following information:

  • account number
  • bank code (routing number/ABA routing number)
  • bank account document

Acceptable document types for verification document uploads

Each uploaded document must meet certain standards in order to be accepted for verification:

Document types Valid document types Document standards
Identity document
  • passport
  • US government identity card (with photo)
  • valid US driving licence (with photo)
  • cannot be a photo of a photo (for example, a photo of a document on a computer screen)
  • must be clear and large enough to read (fuzzy documents are not accepted)
  • must be colored (no black-and-white scans)
  • must be complete (for example, all four corners must be visible)
  • must not be expired
  • must not be forged
Company document
  • Employer Identification Number (EIN) letter
  • Certificate of Incorporation (CoI)
  • Memorandum of Association (MoA) or Articles of Association (AoA)
  • ownership structure (if not found in MoA or AoA)
  • cannot be a photo of a photo (for example, a photo of a document on a computer screen)
  • must be clear and large enough to read (fuzzy documents are not accepted)
  • must be complete (no trimming of document)

Bank account document

  • bank statement
  • cannot be a photo of a photo (for example, a photo of a document on a computer screen)
  • must be clear and large enough to read (fuzzy documents are not accepted)
  • must be complete (no trimming of document)
Proof of address document (if needed)
  • valid US driving licence (with photo)
  • property tax receipt
  • posted mail with name of customer
  • utility bill (for example, gas, electric, water, or fixed line telephone)
  • lease agreement or mortgage statement
  • bank or credit card statement containing name and residential address
  • insurance policy containing name and residential address
  • cannot be a photo of a photo (for example, a photo of a document on a computer screen)
  • must be clear and large enough to read (fuzzy documents are not accepted)
  • must be complete (no trimming of document)

 

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