TrekkPay

"Know Your Customer" (KYC) verification

KYC or Know Your Customer is the process of verifying your business before activating your Trekksoft website products, shop, etc.

     

    What is KYC?

    KYC stands for 'Know Your Customer'. KYC is the process of a business verifying the identity of its clients in order to mitigate potential risks in regards to Compliance, Money Laundering, Anti Terrorism Financing, and any other compliance-related threats. Please note the KYC process is mandatory.

     

    Why is the KYC Process Mandatory?

    1. To verify the identity of our merchants
    2. To enable internal controls against anti-money laundering and anti-terrorist financing laws
    3. Person operating account is authorized by company management/shareholders

     

    How Do I Complete the KYC Process?

    The KYC Process can be accessed by logging into your Admin Desk e.g. yoursite.trekksoft.com and in the main navigation, click on  Settings> Trekkpay as shown below:

     

    HzCEtc3mf2

     

    You will now be in the Trekkpay system. In the top right corner of the Trekkpay system, you will see the status of your account. Click on the Status. Once the page loads, you can start the KYC process explained in detail below.

     

    ________________________________________________________________________

    KYC PROCESS

     

    The KYC Process has 5 tabs to complete:

    kycprocess

    Note: You can click any link below to jump to that section

     

     

    Complete each of the tabs described above to complete the KYC process.

     

    ________________________________________________________________________

    1. Terms and Service

    Before you can start receiving your payouts, you will need to complete the KYC process to successfully verify your account as mentioned above. The first time you enter your TrekkPay dashboard, you will be asked to accept 'TrekkPay's Terms of Service'.

     

    ________________________________________________________________________

    2: Fill out the required legal information

    You must fill out all your company's information in the 'Legal Information' tab.

     

    kyc2

    For Sole Traders

    Sole Trader: A person that operates under their name and is an exclusive owner of the business entitled to keep all profits after tax has been paid but liable of all losses.

    You will need to provide the following information:

    • Legal Name: The legal name of the company
    • Trading Name: If the name of the business different than the company’s legal name/registered.
    • Business structure: Sole trader
    • Sole trader or Tax ID: You need to provide your sole trader registration number here, if you don't have one please fill in the VAT section.
    • VAT Number (if required)
    • Type of service you offer
    • Business website: URL of the website where you are selling your services or products
    • Website: If you have other websites where you also sell your services or products.
    • Business description: a brief description of your company and the services provided
    • Representative information: The representative is the person authorized to operate the TrekkPay account on the company's behalf. Please provide the name of the person who owns the bank account, date of birth, email address and postal address.

     

    For Registered Companies

    Registered company: Any entity that has its own name and is registered as such in their country.

    You will need to provide the following information:

    • Legal Name: The legal name of the company
    • Trading Name: If the name of the business is different from the company’s legal or registered name
    • Business structure: Registered company
    • Company registration number: A registration number is issued by the Revenue office/Tax office in each country when a non-natural person registers for tax. It is subsequently used by the revenue commissioners to identify those taxpayers/entities.
    • VAT Number - enter your VAt number
    • Type of service you offer - Enter information based on the type of service(s) you provide.
    • Business website: URL of the website where you are selling your services or products
    • Website: URL to the website related to the business
    • Business Description: A brief description of your company and the services provided
    • Business Address: Please include your ZIP/Postal Code, City, Country
    • Representative information: The representative is the person authorized to operate the TrekkPay account on the company's behalf. Please provide the name of the person who owns the bank account, date of birth, email address and postal address.
    • Beneficial Owners: List down the business owner, that is the person who owns a significant percentage of your company (often 25% or more) and/or exercise significant control over your company. Individuals considered to “exercise significant control” over your company are those responsible for managing and directing the business and may include executive officers or senior managers, such as CEO, CFO, COO, Managing Member, General Partner, President, Vice President, or Treasurer. 

    ________________________________________________________________________

    3. Bank Account

    In this tab, you need to complete your bank information:

     

    Country: Choose the country in which your company is based

    IBAN/Account Number:  Enter the company IBAN or Account Number

    Address: Enter your registered company address

    Country: Enter the Country where your bank account is registered

    Currency: Select the default currency you would like to use

    Note: You can add multiple bank accounts based on the payout currency. One of the bank accounts is always the default one that is used for all payouts where no specific bank account was added.

    (Make sure to click the save button!)

    ________________________________________________________________________

    4. Upload Business Documents

    In the 'Documents' tab, you'll need to upload the following documents.:

     

    For Sole Traders

    • Proof of Identity
    • Proof of address
    • Sole trader number or Tax ID  
    • Bank statement

     

    For Registered Companies

    • Proof of identity
    • Proof of address
    • Business registration
    • Bank Statement
    • Letter of authorization for the account holder to operate on behalf of the company
    • Declaration of Beneficial ownership link Confirmation

     

    Note: Documents can be uploaded in any of these languages: English, German, Portuguese, Spanish, Italian, French.

     

    ________________________________________________________________________

     

    5. Confirmation

    In the confirmation screen, you will see a list of the 4 previous tabs. If the checkbox next to the tab is ticked, then you have completed that section.

    **Make sure all 4 sections are completed**

    After saving all your information, TrekkPay's compliance team has a maximum of 48 hours to review the information provided.

    You will receive an update from the TrekkPay Compliance Team if your verification has been approved. If additional documents are required, the team will reach out to you with further information on the steps you need to take.

    For further information about the KYC process, please view this PDF

     

    If you have any questions, please drop us an email at Compliance@Trekkpay.io.

     

    Last Updated [Updated 29/02/2020]