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Determine the verification requirements

Learn what verification information you must collect from your users

Verification requirements vary based on the additional financial products that you offer to your users. In some cases, additional financial products, such as business accounts, require more verification checks.

To use business accounts, your users must provide additional information for these verification checks. After the checks are completed successfully, you can assign to your user the capabilities related to business accounts.

This page explains the verification requirements and the data that you need to collect from your users.

Required verification data

In addition to the minimum required information based on the country/region and legal entity type, you must also collect the following:

  • Industry in which the user is registered based on their local chamber of commerce
  • URL of the user's website if they have an online presence
  • The user's source of funds
  • For organizations, their Foreign Account Tax Compliance Act (FATCA)/Common Reporting Standard (CRS) classification, which includes their business type and their main source of income.
  • Tax residence country and ID number. This is required for both organizations and the individuals associated with the organization, or the sole proprietorship owner.
  • The user's source of wealth. Adyen determines if your user needs to provide data about their source of wealth and/or of the owners or controllers of the organization. If the source of wealth is required, Adyen will inform you.
  • A live selfie photo and a photo id. These are required for each signatory of an organization legal entity, or an individual legal entity owning a sole proprietorship. Adyen uses these documents to perform verification for your platform’s safety, and to help prevent onboarding of individuals attempting impersonation fraud.

Additional requirements for users in the US

Business accounts are not available for governmental organizations in the US, including SOEs.

For your users in the US, you must include the following requirements in your onboarding flow. Adyen will check your onboarding flow to ensure that it meets the guidelines.

Financial product Requirement
All financial products
  • Patriot Act / Customer Identification Program (CIP) disclosure: The US federal law requires financial institutions to obtain, verify, and record identification information before account opening. When building custom onboarding flows, you are required to present this disclosure before collecting personal data.

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    • Where hosted onboarding is not used, the CIP Disclosure must be presented before any personal information is collected. If presented in the same location, it must appear first, followed by the data collection fields.

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    • Important information you need to know about opening an account: To help the government fight the funding of terrorism and money laundering activities, Federal law requires financial institutions to obtain, verify, and record information that identifies each person (individual or entity) who opens an account and certain individuals who are associated with an account.
      What this means: When you open an account, we will ask for your name, address, taxpayer identification number and other information that will allow us to identify you.
Business accounts
  • Adyen Business Account Terms of Service: Every account holder must accept Adyen's Terms of Service before the business account can be opened. A copy of the Terms of Service needs to be provided alongside the acceptance.

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    • I have read and I accept these terms and confirm that I am a legal representative authorized to accept these terms on behalf of the company. I have taken notice of the privacy statement (www.adyen.com/privacy-policy) and I consent to my (personal) data being used for the purposes described therein.


  • Regulation GG - Unlawful Internet Gambling Enforcement Act - Certification: Every account holder must be certified under the Regulation GG - Unlawful Internet Gambling Enforcement Act before the business account can be opened. A copy of Adyen's Terms of Service needs to be provided alongside the acceptance.

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    • This certification must be performed when the Adyen Terms of Service are accepted.

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    • Is the legal entity opening the business account engaged in internet gambling? [Yes/No]

Next steps

required
Onboard users

Learn to move your users through the verification process