Onboarding involves MultiSafepay checking and approving information submitted by merchants and partners applying for a live account to process real transactions.
Complete and submit the live account sign up form.
MultiSafepay creates a live account and email you a security code to sign in to your live dashboard.
|Company details||Company address, VAT number, and Chamber of Commerce number|
|Business bank account number||This must exactly match at least one of the trade names listed on your Chamber of Commerce extract.|
|Products/services||See also Prohibited products and services.|
|Site URL||The URL of at least one site you accept payments through, or select the I don’t have a website checkbox.
If you provide a URL, you can now start receiving payments into your MultiSafepay balance. However, you cannot pay out funds until onboarding is complete.
|Credit card payments||If you intend to accept cards, provide your:
- Minimum, average, and maximum order value
- Annual turnover from credit card transactions
MultiSafepay pre-screens your account to check if the products/services you sell are low, medium, or high risk. Payments for medium and high-risk products/services are pauzed until onboarding is complete.
We may ask you to provide additional documents, e.g. if you have an unusual company structure.
Note: Requests to process credit cards may be denied, e.g. if you sell prohibited products/services.
You must inform us of any changes to your company information.
Changes of address
Email the new address and your account ID to [email protected]
Changes in the company form, directors, or UBOs
Email the new details and your account ID to [email protected]
We will request new documentation, such as UBO statements or copies of identification documents.
If a different company is taking over your account, we recommend opening a new account to separate the money flow.
Make sure you update all company details on the website(s), including the registration number, VAT number, and address. The company details on the website must match the details in your account.
Validate your business bank account by either:
MultiSafepay is legally required under the Wwft to establish and verify the identity of your company’s ultimate beneficial owners (UBOs).
Download and complete a Statement of Ultimate Beneficial Owner Form for every UBO, and then submit them via your dashboard.
A UBO is a natural person who directly or indirectly holds an equity interest in or exercises control of the enterprise. Most commonly, an individual holds an equity interest of 25% or more of the shares or capital of the enterprise, or exercises:
If the enterprise consists of a number of (intermediate) holding companies, then the UBO(s) are all the individuals who, through various companies, have 25% or more control of the underlying enterprise.
Enterprises are not required to have a UBO. For example, if an enterprise has five owners with an equal distribution of capital and control, none of them owns 25% or more of the enterprise.
The limited company Good Ltd has a sole shareholder: Better Ltd. The shares of Better Ltd are held equally by two other limited companies:
The three ultimate beneficial owners are therefore Mr A. Jansen, Ms B. Jansen-de Jong, Ms D. Best.
The Wet ter voorkoming van witwassen en financieren van terrorisme (WWFT), or Money Laundering and Terrorist Financing Prevention Act, prevents companies and individuals from laundering money or financing terrorist activity.
It was based on the Disclosure of Unusual Transactions or Financial Services Act, but goes one step further. It focuses on both individuals involved in suspect transactions and the risk of such transactions.
Note: We recommend using the KopieID app to hide personal information on passports or IDs.
You must display certain information on your website.
MultiSafepay assesses the information provided and perform know your customer (KYC) checks. We may request a deposit to cover our financial risks.
If approved, your account goes live and you can make payouts.
To help you start accepting payments as quickly as possible, we divide our checks into two phases:
We may ask for a deposit in case:
Deposits are based on various factors:
If financials are requested, we request your most recent balance sheet, and profit and loss statement.
Email [email protected]
Disclaimer: The information on this website is intended for informational purposes. No rights can be derived from this information.