Account Verification
This article explains how to verify your Payrexx account in order to use the payment services Payrexx Pay and/or Payrexx Pay Plus.
Prerequisite for using Payrexx Pay and Payrexx Pay Plus
To access our in-house payment services, Payrexx Pay and/or Payrexx Pay Plus, you must have a verified Payrexx account.
Please note that only merchants registered in the following countries are eligible for account verification:
🇨🇭 Switzerland
🇩🇰 Denmark
🇱🇮 Liechtenstein
🇳🇱 Netherlands
🇩🇪 Germany
🇱🇺 Luxembourg
🇦🇹 Austria
🇬🇧 United Kingdom
🇮🇹 Italy
🇧🇬 Bulgaria
🇫🇷 France
Complete Account Verification
To begin verifying your account, log in to Payrexx, navigate to Verify Account (1) in your Payrexx merchant dashboard, and follow the on-screen instructions (2):
Required Documents and Information
As a financial intermediary, we are legally required to verify your organisation and its authorised representatives. For this reason, we require the following documents and information:
Business Details: Documents and details about the organisation
Personal Details: Documents and details (ID, proof of address) of the representative(s)
Bank Account Details: A valid bank account registered in the organisation’s name
Product and Billing Details: Details about products/services, customers, and turnover figures
Business details
Your organization needs to provide the following business details:
Type of business
Company name
Industry of the business
Website with visible terms of service and contact information
Business headquarters (address, country)
Phone number and email
Commercial register extract and VAT identification number (if available)
Document proving company ownership
Type of legal entity
Choose the appropriate legal form for your organization based on the country where it is located.
The following table includes all legal forms for countries where Payrexx Pay and/or Payrexx Pay Plus are available.
Switzerland / Liechtenstein
Individual
Einzelperson / Entreprise individuelle / Ditta individuale
Einfach Gesellschaft / Société simple / Società semplice
Company
Aktiengesellschaft (AG) / Société anonyme (SA) / Società anonima (SA)
Gesellschaft mit beschränkter Haftung (GmbH) / Société à responsabilité limitée (SARL) / Società a garanzia limitata (Sagl)
Kommanditgesellschaft / Société en commandite / Società in accomandita
Kollektivgesellschaft / Société en nom collectif / Società in nome collettivo
Kommanditaktiengesellschaft / Société en commandite par action / Società in accomandita per azioni
Genossenschaft / Société coopérative / Società cooperativa
Holding
Association (NPO)
Verein / Association / Fondazione
Foundation (NPO)
Stiftung / Fondation / Fondazione
Public administration
Öffentliche Verwaltung / Administration publique / Amministrazione pubblica
Germany
Individual
Einzelperson
Gesellschaft bürgerlichen Rechts
Partnergesellschaft
Company
Aktiengesellschaft (AG)
Gesellschaft mit beschränkter Haftung (GmbH)
Kommanditgesellschaft (KG)
Unternehmergesellschaft (UG)
Europäische wirtschaftliche Interessenvereinigung
Europäische Gesellschaft
Eingetragene Genossenschaft
Offene Handelsgesellschaft
Holding
Association (NPO)
Verein
Foundation (NPO)
Kirchliche Stiftung/ öffentliche Stiftung
Stiftung des privaten Rechtes
Public administration
Körperschaft öffentlichen Rechts
Öffentliches Unternehmen
Austria
Individual
Einzelperson
Gesellschaft bürgerlichen Rechts
Company
Aktiengesellschaft (AG)
Gesellschaft mit beschränkter Haftung (GmbH)
Kommanditgesellschaft (KG)
Kommandit-Erwerbsgesellschaft
Europäische wirtschaftliche Interessenvereinigung
Europäische Gesellschaft
Offene Erwerbsgesellschaft
Holding
Association (NPO)
Verein
Foundation (NPO)
Stiftung
Public administration
Körperschaft öffentlichen Rechts
Öffentliches Unternehmen
France
Individual
Entreprise individuelle
Auto-entrepreneur
Company
Société anonyme (SA)
Société par actions simplifiée
Société à responsabilité limitée (SARL)
SARL unipersonelle
Société en commandite
Groupe d'intérêt économique
Société européene
Société coopérative agricole (SCA)
Société d'assurance mutuelle
Société coopérative commerciale particulière
Société en nom collectif
Association (NPO)
Association
Foundation (NPO)
Fondation
Public administration
Administration de l'état
Collectivité territoriale
Etablissement public-administratif
Société civile
Italy
Individual
Ditta Individuale
Società semplice (S.s.)
Company
Società in accomandita per azioni (S.a.p.a.)
Società in accomandita semplice (S.a.s.)
Società in nome collettivo (S.n.c)
Società cooperativa
Società per azioni (S.p.A.)
Società a responsabilità limitata (S.r.l.)
Association (NPO)
Associazione non riconosciuta
Associazione riconosciuta
Foundation (NPO)
Fondazione
Public administration
Amministrazione pubblica
Netherlands
Individual
Eenmanszaak
Maatschap
Company
Naamloze Vennootschap (NV)
Besloten Vennootschap (BV)
Commanditaire Vennootschap (CV)
Europees Economisch Samenwerkingsverband (EESV)
Europese Coöperatieve Vennootschap (SCE)
Europese Naamloze Vennootschap (SE)
Vennootschap Onder Firma (VOF)
Onderlinge Waarborgmaatschappij
Coöperatie
Association (NPO)
Kerkgenootschap
Foundation (NPO)
Stichting
Public administration
Kroondomein
Overheidsinstantie
Denmark
Individual
Enkeltmandsvirksomhed
Interessentskab
Company
Aktieselskab
Iværksætterselskab
Anpartsselskab
Kommanditselskab
Association (NPO)
Forening
Foundation (NPO)
Stiftelse
Public administration
Offentlig administration
United Kingdom
Individual
Sole trader
Company
Private Limited Company (Ltd.)
Public Limited Company (PLC)
Limited Partnership (LP)
General Partnership (GP)
Association (NPO)
Charitable Company
Foundation (NPO)
Foundation
Public administration
Public administration
Luxembourg
Individual
Entreprise individuelle
Société en commandite simple
Société en commandite spéciale
Société en nom collectif
Société civile
Company
Société à responsabilité limitée
Société anonyme
Société en commandite par actions
Société européenne
Association (NPO)
Association
Foundation (NPO)
Fondation
Public administration
Administration publique
Bulgaria
Individual
Ednoličen Tǎrgovec (ET)
Company
Aktsionerno druzhestvo (AD)
Družestvo s ograničena itgovornost (OOD)
Komanditno družestvo s akcii (KDA)
Evropejska kooperacija
Evropejska kompanija
Zakon za kooperaciite
Komanditno družestvo (KD)
Sǎbiratelno družestvo (SD)
Association (NPO)
Asociacija
Foundation (NPO)
Fondacija
Public administration
Publična administracija
Company verification document
For regulatory reasons, we are obligated to verify the information provided. Depending on the legal structure you have chosen, verification will be conducted with different official registration documents.
The table below shows which documents and information can be used to verify the respective legal forms.
Sole proprietorships
Full legal name
Trade name (optional)
Commercial register number (optional)
VAT number (optional)
Industry details
Head office address
Website
Contact details
Excerpt from the commercial register (optional)
Company
Full legal name
Trade name (optional)
Company registration number
VAT number (optional)
Industry details
Head office address
Website
Contact details
Excerpt from the commercial register
Association
Full legal name
Trade name (optional)
Commercial register number (optional)
VAT number (optional)
Industry Details
Head office address
Website
Contact details
Excerpt from the commercial register (optional)
Statutes
Board register
Foundations
Full legal name
Trade name (optional)
Commercial register number (mandatory for Swiss foundations)
VAT number (optional)
Industry details
Type of foundation
Revocability of the foundation
Head office address
Website
Contact details
Excerpt from the commercial register (mandatory for swiss foundations)
Deed of foundation
Statutes
Public administration
Full legal name
Trade name (optional)
Commercial register number (optional)
VAT number (optional)
Industry Details
Head office address
Website
Contact details
Municipal, cantonal or federal body (optional)
Personal details
Articles 3 and 4 of the Anti-Money Laundering Act (AML Act) stipulate which individuals must be reported in financial business decisions. For you as a merchant, this means:
The legally representing person authorized to sign must be recorded. In cases of collective signatures, at least two legal representatives must be named.
The ultimate beneficial owners (UBO) must be recorded: All shareholders who own 25% or more of the company shares must be recorded. If there is no clearly identifiable ultimate beneficial owner, the controller (fictitious UBO) must be specified (e.g., the executive who controls the organization and the corresponding assets).
We are aware that the legal definition of beneficial owners is not always easy to understand. For better clarification, we have compiled some concrete examples in the following table:
Individuals with 25% or more company shares (UBO)
In a company, individuals who own 25% or more of the company shares can be considered as ultimate beneficial owners (UBOs).
Example 1: The example company "Example & Partners" has divided all shares equally among four shareholders, each holding 25%. This entitlement to profits makes them all UBOs of the organization. Therefore, they would all need to be reported (including documents). If only one person owned 25% or more of the shares, that person would be the sole UBO.
Example 2: Tom is the sole member funding the "Yoga Studio Example" company and therefore owns 100% of the company shares. He has no formal role in the company but acts as its external stakeholder. In this case, Tom is a UBO due to the actual control (including profit claim) he exercises over the company.
If no one owns 25% or more of the company shares, the controller must be designated as a fictitious UBO.
Individuals exercising actual control in other ways (controller, fictitious UBO)
If a company has no UBO, it is necessary to designate one or more fictitious UBOs. A fictitious UBO is a natural person who can actually decide on the company's affairs and dispose of the corresponding assets.
Example: The purpose community "Organization of the Example Festival," organized as a Simple Society, consists of 5 members, each owning 20% of the shares. However, the manager is authorized to make decisions alone and has control over the existing assets. In this case, the manager would be a fictitious UBO.
Individuals with 25% or more company shares (UBO)
In a company, individuals who own 25% or more of the company shares can be considered ultimate beneficial owners (UBOs).
Example 1: "Example GmbH" has distributed all its shares equally among four shareholders, each holding 25%. This profit entitlement makes all four UBOs of the organization. Therefore, all shareholders must be reported (including documents). If only one person owned 25% or more of the shares, that person would be the sole UBO.
Example 2: Tom is the sole member funding "Example AG" and thus owns 100% of the company shares. He does not have a formal role in this company but acts as its external stakeholder. In this case, Tom is a UBO due to the actual control (including profit claim) he exercises over "Example AG."
If no one owns 25% or more of the company shares, the controller must be declared as a fictitious UBO.
Individuals Exercising Actual Control in Other Ways (Controller, Fictitious UBO)
If a company has no UBO, it is necessary to determine one or more fictitious UBOs. A fictitious UBO is a natural person who can actually decide on the company's affairs and control the corresponding assets.
Example: "Sample AG" has more than 150 shareholders, none of whom own 25% or more shares. However, the manager is authorized to make decisions and controls the existing assets. In this case, he would be a fictitious UBO.
Associations fundamentally do not have beneficial owners. Therefore, all members of the association's board who hold 25% or more of the voting rights must be reported.
If no board member meets this criterion, a board member must be reported who can exercise control over the association and have disposal over the association's assets. We recommend indicating the president of the association.
Foundations fundamentally do not have beneficial owners. Instead, they must report their legal representatives. Furthermore, a written statement (only the personal details without proof documents) of the following individuals or organizations is necessary:
Founders of the foundation (individuals or organizations)
Designated beneficiaries (individuals or organizations)
All members of the foundation council who hold 25% or more of the voting rights
The written statement will be linked in your Payrexx account and can be completed entirely online. All relevant details for the written statement can be found in the foundation certificate.
Public administrations do not have beneficial owners by design. Public administrations shall only indicate the legal representatives. In addition, the persons indicated must be findable on the website of the respective public administration.
The following documents and information must be submitted for all individuals:
First name and surname
Date of birth
Email address
Phone number
Colored copy of an identity document (only ID card, passport, or driver’s license are acceptable)
Home address and country
Confirmation of home address (only electricity and water bills, bank statement, or official document are valid)
At least one (or two for collective signatures) legal representatives must be specified
Identity confirmation
The following documents are accepted for identity confirmation:
Passport
ID card
Driver's license
The uploaded ID copy must meet the following requirements:
The ID must be valid (not expired).
Both the front and back sides must be clearly visible.
The image of the ID must be legible, of high quality, and in color.
All four corners must be fully visible (not cropped or incomplete).
The file must be in JPG or PNG format.
Confirmation of home address
The following documents are accepted for home address confirmation:
Electricity or water bill
Bank or credit card statement (feel free to make amounts illegible)
Official state document
Telecom bill
Insurance document
The uploaded document must meet the following requirements:
It must have been issued within the last 6 months (the issue date must be clearly visible).
The full name and residential address must be clearly visible.
The document must be of high quality, legible, and in color.
All four corners must be fully visible (not cropped or incomplete; however, irrelevant information may be redacted).
Bank account details
For the bank account to which Payrexx will make payouts, we need the following information:
Currency of the account
Country of the bank
Account holder's name
IBAN number
Payout Descriptor
Banks have strict guidelines and generally only accept payments when the payee's name matches the registered account holder 100%. Therefore, it is important to provide the correct payment information and the correct type of business:
Sole proprietorships are considered natural persons. Therefore, the bank account must be in the personal name of the individual, not the business name.
Other types of businesses, such as GmbH or AG, are considered legal entities. The bank account must therefore be in the business name and not registered to a natural person.
Non-profit organizations, such as associations or non-profit organizations, must have an account in the name of the organization.
For more information about payouts and bank accounts, see the following article:
Product and billing details
We need information about what products are sold or what services are offered:
Description of the products or services sold in your shop
Estimated monthly sales
Company name
Recurring transactions (e.g., whether products or services are offered against monthly, quarterly, annual, etc. payments)
Link to the website
For security reasons, we cannot accept high-risk businesses. You can find the list of unsupported business models at the following link:
Verification
After you have submitted all the required documents and information, our onboarding team will review your application as soon as possible.
If we have any questions regarding your application, you will receive an email from our onboarding team promptly.
Last updated
Was this helpful?