What regulated payment providers ask for when they verify a business, including beneficial owners, formation documents and source of funds, so you can be approved faster.
Every regulated provider that holds or moves money for a business must verify that business first. This is called KYB, know your business. It protects you as much as the provider: it is the reason accounts in your name cannot be opened by someone else. Having the right information ready is the single biggest factor in how fast you are approved.
Company information
- Legal name, entity type and registration or tax identification number.
- Registered address and, if different, the address where you actually operate.
- A short description of what the business does, its industry and its website.
- The purpose of the account and where the funds come from, for example payments from clients for software development.
Documents
- Formation documents, such as a certificate of incorporation or registry extract.
- Ownership documents showing who owns the company, such as a shareholder register or operating agreement.
- Proof of address, if requested.
People
Providers must identify the people behind the company. With Bridge, that means every individual who owns 25% or more of the business, and at least one person with significant control, such as a director, CEO or CFO. Each of them completes identity verification. If the company is owned by another company, the ownership of that company is checked too.
Things that may be asked later
- Expected monthly volume and annual revenue.
- Proof of funds, such as recent bank statements.
- Evidence of real activity, such as invoices or client contracts.
- Licences, if you work in a regulated industry.
Tips for a fast approval
- Use the exact legal name from your registry documents.
- Make sure the website and description match what you actually do.
- Have each owner and director ready to complete identity checks on their phone.
- Answer follow-up questions the same day.
With HermodPay, documents go directly to Bridge and its verification partners, never to us. Your named contact tells you what is still missing and what usually happens next.
Ready to apply? It takes about ten minutes.
Open an accountThis article is general information, not legal, tax or financial advice. Services described are provided by Bridge, a Stripe company, and availability depends on your country and account.