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Sole Proprietor | Individuals - Documents Needed to Complete Verification (KYC)
Sole Proprietor | Individuals - Documents Needed to Complete Verification (KYC)

Know Your Customer (KYC) must be completed in order to verify you and/or your sole proprietorship identify in order to receive a payout

Ashley avatar
Written by Ashley
Updated over a week ago

The below documents and information will be required in order to complete the KYC verification process for Sole Proprietors.

Such information and documents are collected in order to complete the verification process because Webconnex Payments follows required financial regulations to assure any person or organization processing payments will not be misusing the funds or causing harm. Documents provided will be checked against official records.


Prepare the Following Information + Documents

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Personal Details

  • First Name + Last Name

  • Date of Birth

  • Country of residence

  • Last 4 digits of Social Security Number (SSN)

  • Email address

  • Phone number

  • Agree that your bank account where you will receive payouts has the same name as the Sole Proprietor

  • Address


Sole Proprietor Details

  • Country of establishment

  • Legal name of sole proprietor - Enter the name exactly as it appears on your Secretary of State Registration.

  • Doing business as (DBA) or simply enter the Legal Name of the Company

  • Employer Identification Number (EIN) or Social Security Number (SSN)

  • Personal address where your business is registered to


Payout Details + Verification Methods

Option 1: Trustly (recommended option)

Trustly is our trusted partner helping speed up your account setup by instantly verifying your bank account. You would simply select and login to the bank where you would like to receive the payouts and wallah, you're done!

NOTE: Webconnex Payments will only gain temporary access to your bank details, and your data is never shared with third parties.

Option 2: Manual Verification

The manual verification method will ask that you enter the Account Holder Name, Account Number and ACH routing number for the bank account where you would like to receive your payouts.

NOTE: The bank account holder has to have the same name as your sole proprietorship

Then you will be asked to upload one of the following documents. Upon doing so, you'd upload one file either JPG, JPEG, PNG, PDF Size up to 4MB on one page. The file must contain images that are not cut off, blurry or expired.

Bank Statement

Your uploaded bank statement must contain the following information:

  • Account holder name on the document has to match the legal business or trading name of your company

  • Date on the document is no older than 12 months

  • Must be an official bank document that shows the bank logo, the bank name, or a bank-specific font

Deposit ticket / check

Your uploaded deposit ticket / deposit form must contain the following information:

  • Account holder name on the document has to match the legal business or trading name of your company

  • The account number needs to be visible

  • The routing number should be visible

  • Must be an official bank document that shows the bank logo, the bank name, or a bank-specific font

  • Image must be high quality and all security features must be evident

Screenshot of online banking environment

Your uploaded screenshot of online banking environment must contain the following information:

  • Account holder name on the document has to match the legal business or trading name of your company

  • The account number needs to be visible

  • The routing number should be visible

  • Date on the document is no older than 12 months

Official email or a letter from your bank

  • Account holder name on the document has to match the legal business or trading name of your company

  • The account number needs to be visible

  • The routing number should be visible

  • Date on the document is no older than 12 months

  • Must be an official bank document that shows the bank logo, the bank name, or a bank-specific font

  • Must have a bank stamp or bank signature


Sign Documents

The last step in the verification process is to sign the official-documentation.

  • Sign the services agreement

  • Sign the PCI DSS questionnaire

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