Thank you for applying to Payhawk! Since Payhawk is a regulated financial institution, you'll need to provide some company documents and IDs for its representatives before you can access the platform. For more details on the rules Payhawk follows and the identity verification process, check out this article on compliance and verification.
To start, let's summarize the main application terms, the information requested, and the application process.
Application terms & requested information
Account registration - Refers to the initial setup where basic company information is provided and an account is created.
Company owners or Ultimate Beneficial Owners (UBO) - The required information includes the full name, nationality, and a clear scan of a valid ID document (passport or national ID). This is necessary for individuals who own or control more than 25% of the company. Or in rare cases with more than 10%.
Company directors - Full names, dates of birth, and government-issued IDs and passports are required for at least one director. If the company has multiple directors, information for other directors and representatives must also be provided.
Desired usage - A brief description of how the company intends to use Payhawk services, such as expense management, employee cards, etc.
Company registration address - The official address of the company's registered office, which must match the details in the official company registry.
Identity verification - Payhawk uses a secure identity verification system (Onfido) to check the identity of directors and beneficial owners. This process may involve a combination of ID document scans, facial recognition technology, and other methods to verify that the individuals are who they claim to be.
Required company documents - In most of the cases:
Extract from official commercial/company registry - An up-to-date extract showing the company’s registration details.
Corporate ownership chart - A visual representation of the company’s ownership structure, showing all levels of ownership leading to the ultimate beneficial owners. The chart needs to be dated and signed by a company director.
Extract evidencing ownership of all entities leading to beneficial owners - Documentation proving ownership of entities, especially in cases where multiple layers of ownership are involved (i.e., parent companies).
Articles of association - The company’s governing document outlining the structure, powers, and rules governing the company.
Overview of the application process
With operations across 32 European countries, Payhawk's application process varies slightly by region. Below are the main stages for all companies applying for a Payhawk account.
*In some cases