What documents do I need when applying to open a merchant account, and what is a UBO and CDD check?
When you apply for a Payconiq merchant account, we are legally obligated to carry out certain checks. This helps prevent fraud, money laundering and financing of terrorism. This is why we request certain documents and information.
Ultimate Beneficial Owner (UBO):
In most cases, we need a UBO of the company.
A UBO is the ultimate beneficiary of a company, i.e. persons who directly or indirectly own shares or are directors. We only need the details of UBOs who own 25% or more of the company's shares.
Those within your company who have access to the UBO register can download it here.
Identity check (CDD check)
We are obligated to identify and verify a company's legal representatives.
You can find more information about CDD on the FPS Economy website.
All personal data and documents are processed and stored securely, in accordance with Belgian and European regulations.
If you require further information, feel free to contact us via the link below.
Other FAQs
- Payconiq solution
- My Payconiq payouts
- Managing my merchant account
- Payconiq solutions for merchants
- Request a Merchant contract
- Get going with the Merchant Portal
- My Payconiq invoice
-
About meal vouchers via Payconiq
- How do Payconiq meal vouchers work for customers?
- How can you activate or ask payments with meal vouchers via Payconiq?
- How is a ‘combined’ transaction involving meal vouchers and Payconiq paid out?
- Meal voucher payments are missing from my payment statement.
- Can I also accept eco, gift or consumer cheques through Payconiq?
-
Operating fee
- I have multiple Payconiq Merchant accounts (Merchant IDs) for my business. How can I merge these accounts?
- What is included in the yearly invoiced operating fee of 18 €?
- Who does the operating fee apply to?
- Does the operation fee still apply when no transaction has been made?
- Is VAT included in the annual operating fee invoice of € 18?
- Payconiq GO