Onboarding

To go live with Volt your application first needs to be onboarded. At the beginning of the process, you will be asked to complete our Merchant Application Form. It’s crucial that you complete all the relevant sections in order for us to configure your account correctly.

On the last page of the Merchant Application Form, you will see a checklist of the documents we require for your company’s verification, in light of AML/CFT purposes. These can be divided into three sections:

1. Company information:

  • Certificate of Registration
  • Memorandum and Articles of Association
  • Group ownership structure

2. Signatory/Ultimate Beneficial Owner KYC:

  • ID for any Shareholder 25% plus
  • ID for Authorised Signatory
  • Proof of Address from Beneficial Owner(s) above 25% (dated within 90 days)
  • Proof of Address from any Authorised Signatory (dated within 90 days)

3. Further documents that may be required for you to operate your business:

  • Copy of License
  • AML Policy

Note that for TPS, we need only the following:

  • Certificate of Registration
  • Signatory Owner KYC:
  • ID for Authorised Signatory

When we receive your complete company documentation your application is then further registered and processed with our open banking partner network. This process can take longer if your business belongs to an industry that may be deemed high risk from a financial crime or reputation perspective. These include:

  • Casinos
  • Crypto assets and crypto trading
  • Art dealerships and other high-value goods
  • Charities and NPOs
  • Cash intensive businesses
  • Use cases associated with tax evasion

Some types of businesses are deemed prohibited and will not be accepted, such as:

  • Trusts and other complex structures

Industries or use cases that are deemed prohibited and we will not accept include but are not limited to:

  • Adult services
  • Arms trading
  • Casinos not licensed to operate in the UK or European Union
  • Counterfeit goods
  • Illegal drugs and drug paraphernalia
  • Intellectual property violations
  • Multi-level marketing schemes
  • Pseudo-pharmaceuticals
  • Supporting or servicing any type of illegal activity
  • Supporting businesses that carry out regulated activities without appropriate licenses
  • Providing services into high-risk jurisdictions

Provided your application is approved, you will receive your Volt Merchant Terms from your sales representative. Fuzebox access to the users specified in the Application Form will follow.

In case you have any questions about the process or want to discuss your business model, feel free to contact support@volt.io.