What is KYC verification?
KYC (Know Your Customer) is a standard security process that verifies your business identity to prevent fraud and ensure secure payments. It’s part of the anti-money laundering regulations that payment providers need to understand who they are paying out to. At ResQ Club, we rely on Adyen for our payment processing.
Below, we've gathered some frequently asked questions about KYC to help you out.
Why do you need this information?
Why do you need this information?
European regulations require payment providers to verify business identities for anti-money laundering compliance. This protects all merchants and keeps the financial system secure.
What documents exactly do I need to prepare?
What documents exactly do I need to prepare?
You will need to prepare three main documents, including:
Your company registration document
Decision-maker(s)’s photo ID document, i.e Driver's license, Passport
Bank document
A decision-maker could be the owner(s) holding 25% or more of your company. If there are not any owners holding 25% or more, then please specify all controlling persons. Also at least 1 signatory.
However, if one person owns 25% or more of the company, works as a controlling person as well as being the signatory of the company, you will only need to upload that specific person’s ID documents.
Bank document could be one the following documents
Bank statement, Deposit slip, Official email or letter from your bank, check. These must meet below criteria,
Bank account must be in your company's name
Includes your account number or IBAN
Includes the country/region of the bank account
Includes the bank logo, bank name, or bank-specific font
Issued in the last 12 months
Includes a bank stamp or signature (for Deposit Slip, bank email or letter only)
Screenshot of online banking environment
Bank account must be in your company's name
Includes your account number or IBAN
Includes the country/region of the bank account
Includes the bank logo, bank name, or bank-specific font
Who is Adyen?
Who is Adyen?
Adyen is a leading European payment service provider and at ResQ Club we rely on Adyen to process the payments our customers make. Adyen is also where our partners receive their payouts from. Adyen is also responsible for the KYC verification process.Adyen is listed on the Amsterdam stock exchange and operates in over 20 different countries.
Will there be any service interruptions?
Will there be any service interruptions?
No, your current payment service will continue until the new system is activated.
Will this affect my commission or payout schedule?
Will this affect my commission or payout schedule?
No, everything will remain the same.
I need support with the verification – where should I reach out?
I need support with the verification – where should I reach out?
First, we strongly recommend taking a closer look at our step-by-step guide to go through the verification process.
If your question isn't covered and you need further assistance, our support team is happy to help at info@resq-club.com.