Reference for additional capabilities

Find out which values you can use for the FATCA/CRS, industry codes, and source of funds.

FATCA/CRS

Under FATCA and CRS legislation, Adyen NV as a licensed Dutch Financial Institution is legally required to both:

• Identify its financial account holders.
• Report details of reportable financial account holders to the relevant tax authorities.

To obtain a financial account from Adyen, Adyen therefore needs to obtain certain additional information about you or your entity. To determine whether a financial account (holder) is reportable under FATCA and/or CRS, Adyen is required to obtain a self-certified FATCA / CRS qualification. This FATCA and CRS qualification determines whether the financial account information is considered reportable. After completing the self-certification process, no further action is required by you unless your information changes.

Industry codes list

As a financial institution, Adyen has a legal obligation to collect information about the line of business from your users. This is done by capturing industry codes. You are required to provide industry codes for your users when requesting business accounts.

These codes can represent the industry in which the user is registered based on their local registry (for example, chamber of commerce or secretary of state).

To submit this information to Adyen, make a POST /businessLines request. Select the industry code that most accurately represents the business activity of the user.

For some industries, Adyen requires approval before onboarding users. In this case, contact your Adyen Account Manager, Implementation Manager, or Support Team for further guidance.

After collecting industry codes, Adyen also makes this data available for you, in case you want to gain insights on your balance platform users.

Industry codes have been mapped to merchant category codes (MCCs) and adapted based on our internal regulations. We only accept the following values listed below for industry codes.

Source of funds list

Adyen is required to verify the source of funds (SOF) used to fund an account. This requirement is applicable for both card issuing and business accounts.

Depending on the type of funds, we may request additional documents as proof. We strongly recommend that you have these documents available before starting in order to speed up this process.

To submit this information to Adyen, make a POST /businessLines request, specifying the service as either:

• banking for business accounts
• issuing for card issuing

If the source of funds was processed through Adyen, set the sourceOfFunds.adyenProcessedFunds to true. If the source of funds was not processed through Adyen, set the sourceOfFunds.adyenProcessedFunds to false. You must then include the sourceOfFunds.type and sourceOfFunds.description. The description must state the origin of the source of funds.

The following table shows the accepted funding sources and the required documents for each type, if requested. If the type of accepted document has a listed date requirement, the document must meet this requirement.