Know Your Customer

Know Your Customer (KYC)

1) Personal Accounts

What you need to know

Our sign-up process will register you for a WiPay Personal UnVerified account. This means that there are some features that you will not be able to access. To get access to all of our WiPay services, you will need to upgrade to a WiPay Personal Verified account. Don’t worry, the upgrade process is completely free! You will, however, need to submit documents for us to upgrade your account. These documents are as follows:

 

Qty Type of Document Notes Required
1 Form of ID For example; Driver’s Permit, Passport, or National ID Card. Yes
1 Proof of Address For example; Utility Bill, Bank Statement. note: Submitted Utility Bill must not be more than 3 months from the date of submission. Yes
1 Residency Confirmation Letter Must be completed if the name printed on the Form of ID document does not match the name printed on the Proof of Address document. Conditional
1 Personal Bank Account Bank Account must match the name of the applicant. The information is to be entered on your WiPay Account Yes
2) Business Accounts
a) Sole Trader
Qty Type of Document Notes Required
2 Form of ID For example; Driver’s Permit, Passport, or National ID Card. (both sides) Yes
1 Proof of Address For example; Utility Bill, Bank Statement. note: Submitted Utility Bill must not be more than 3 months from the date of submission. Yes
1 Certificate of Registration Certificate of Registration Yes
1 Source of Funds - No
1 Residency Confirmation Letter Must be completed if the name printed on any Form of ID document does not match the name printed on the Proof of Address document. Conditional
1 Business Bank Account WiPay Account Yes
b) Limited Company
Qty Type of Document Notes Required
1 Business Registration Certificate Certificate of Incorporation Yes
1 Articles of Incorporation - Yes
1 Notice of Directors Most Recent Yes
1 Notice of Address Most Recent Yes
1 Notice of Secretary Most Recent Yes
1 Business Bank Account WiPay Account Yes
The Account Holder must supply the following:
Qty Type of Document Notes Required
1 Form of ID For example; Driver’s Permit, Passport, or National ID Card. (both sides) Yes
1 Proof of Address For example; Utility Bill, Bank Statement. note: Submitted Utility Bill must not be more than 3 months from the date of submission. Yes
1 Residency Confirmation Letter Must be completed if the name printed on any Form of ID document does not match the name printed on the Proof of Address document. Conditional
For the Listed Directors/Shareholders:
Qty Type of Document Notes Required
1 Form of ID Photo ID to be submitted for each listed Director/Shareholder.
For example; Driver’s Permit, Passport, or National ID Card (both sides).
Yes
1 Proof of Address For example; Utility Bill, Bank Statement. note: Submitted Utility Bill must not be more than 3 months from the date of submission. Yes
1 Residency Confirmation Letter Must be completed if the name printed on any Form of ID document does not match the name printed on the Proof of Address document. Conditional
c) Non-Governmental Organization (NGO)/Non Profit Organization (NPO)
Business Registration Requirements
Qty Type of Document Notes Required
1 Business Registration Certificate Certificate of Incorporation
For example; Driver’s Permit, Passport, or National ID Card (both sides).
Yes
1 Memorandum and Articles of Association - Yes
1 Annual Return Most Recent Yes
1 Business Bank Account Bank Account must match Registered Business Name Yes
For the Account Holder
Qty Type of Document Notes Required
1 Form of ID For example; Driver’s Permit, Passport, or National ID Card (both sides). Yes
1 Proof of Address For example; Utility Bill, Bank Statement. note: Submitted Utility Bill must not be more than 3 months from the date of submission. Yes
1 Residency Confirmation Letter Must be completed if the name printed on any Form of ID document does not match the name printed on the Proof of Address document. Conditional
For the Listed DIrector
Qty Type of Document Notes Required
1 Form of ID Photo ID to be submitted for each listed Director/Shareholder.
For example; Driver’s Permit, Passport, or National ID Card (both sides).
Yes
1 Proof of Address Utility Bill or Bank Statement to be submitted for each listed Director.
Submitted Utility Bill must not be more than 3 months from the date of submission.
Yes
1 Residency Confirmation Letter Must be completed if the name printed on any Form of ID document does not match the name printed on the Proof of Address document. Yes
d) Registered School/Alumni Association
Qty Type of Document Notes Required
1 Registration Document Confirmation letter from Ministry OR the Act of Parliament for an Association Yes
1 Bank Account Bank Account must match the School's / Association’s registered name. Yes
For the Listed Directors/Shareholders
Qty Type of Document Notes Required
1 Form of ID For example; Driver’s Permit, Passport, or National ID Card (both sides). Yes
1 Proof of Address Utility Bill or Bank Statement to be submitted for each listed Director.
Submitted Utility Bill must not be more than 3 months from the date of submission.
Yes
1 Residency Confirmation Letter Must be completed if the name printed on any Form of ID document does not match the name printed on the Proof of Address document. Conditional
For the listed Vice Principal/Vice President & Treasurer
Qty Type of Document Notes Required
1 Form of ID Photo ID to be submitted for each listed Director/Shareholder.
For example; Driver’s Permit, Passport, or National ID Card (both sides).
Yes
1 Proof of Address Utility Bill or Bank Statement to be submitted for each listed Director.
Submitted Utility Bill must not be more than 3 months from the date of submission.
Yes
1 Residency Confirmation Letter Must be completed if the name printed on any Form of ID document does not match the name printed on the Proof of Address document. Conditional