Compliance Requirements for Merchant Account Applications

All applications for Australian payment processing are required to comply with Know Your Customer (KYC) and Compliance requirements imposed by Australian Law and Payment Schemes.

To meet these obligations Ezidebit is required to verify the identity of certain officers of your company. This can be completed through utilising our Electronic ID Verification services, or through the provision of certified copies of Identification for these individuals.

The following is a high level overview of the compliance requirements for your Ezidebit payment facility application. For more information, click the relevant links below:

  • ID verification of all owners, major shareholders or senior officials within a business.

  • A bank statement in the name of the applying entity

  • If the applying entity is a Trust, a copy of the Trust Deed confirming Trustee details

  • If the applying entity is an Association, a copy of the latest meeting minutes confirming executive committee members (Chairperson, Treasurer, Secretary)

  • If you are taking certain types of payments, you may be required to provide a copy of your payment and business Terms and Conditions. This may be either on the website hosting the payment process or in document form that is presented to the customer prior to payment.

  • A signature by an officer or authorised representative of the applying entity

Our team will review your application prior to approval. In some circumstances, additional information may be required in which case, our Onboarding and Credit team will be in touch.

Proof of Identification

As a part of your application for an Ezidebit payment facility, Ezidebit is required to verify the identity of certain individuals and/or officers of your company. This can be completed through utilising our Electronic ID Verification services, or through the provision of a certified copy of the relevant Identification.


What Forms of Identification are Accepted

If not completing ID Verification Electronically, a Certified copy of one of the following will be required to be supplied with each application:

  • Valid Australian Passport;

  • Valid Australian Driver’s Licence;

  • Valid Overseas Passport;


What is a Certified ID?

A certified document is a document that is witnessed as being a true copy of the original. This is typically completed (signed and dated) by an authorised person such as a Justice of the Peace. This is similar to what you do when you apply for something like a bank account or mortgage where you may be asked to provide documents that are certified as true copies of the original.


What needs to be included in the certification?

In order for documents to meet certification requirements, the document must be certified as a true copy of the original by an appropriate person. Each certified document copy must be certified separately, and must clearly show:

  • The words “certified true copy of the original”

  • The date of the certification

  • The signature of the certifying officer, and

  • The name, provider/registration number (if applicable) and profession of the certifying officer, legibly printed below the signature


Who can certify my documents?

  • Justice of the Peace

  • Commissioner for Declarations

  • A person who is enrolled on the roll of the Supreme Court of a State or Territory, or the High Court of Australia, as a legal practitioner (however described)

  • Judge of a court

  • Magistrate

  • Chief executive officer of a Commonwealth court

  • Registrar or deputy registrar of a court

  • A notary public

  • Police officer

  • An agent of the Australian Postal Corporation who is in charge of an office supplying postal services to the public

  • Permanent employee of the Australian Postal Corporation with 2 or more years of continuous service who is employed in an office supplying postal services to the public

  • Australian consular officer or an Australian diplomatic officer

  • An officer with 2 or more continuous years of service with one or more financial institutions

  • A finance company officer with 2 or more continuous years of service with one or more finance companies

  • An officer with, or authorised representative of, a holder of an Australian financial services licence, having 2 or more continuous years of service with one or more licensees

  • A member of the Institute of Chartered Accountants in Australia, CPA Australia or the National Institute of Accountants with 2 or more years of continuous membership

  • A person who, under a law in force in a State or Territory, is currently licenced or registered to practise in one of the following occupations:

    • Architect

    • Chiropractor

    • Dentist

    • Financial Adviser or Financial Planner

    • Legal Practitioner

    • Medical Practitioner

    • Midwife

    • Nurse

    • Occupational Therapist

    • Optometrist

    • Patent Attorney

    • Pharmacist

    • Physiotherapist

    • Psychologist

    • Trademark Attorney

    • Veterinary Surgeon


Who can’t certify my documents?

  • Your spouse or partner

  • A person related to you or living at the same address as you

  • A person involved in the transaction or business requiring this certification. (For example, if you visit your solicitor to set up a trust or register a mortgage you cannot use that same solicitor to certify your ID & proof of address documents. Another solicitor at the firm could be used as your trusted referee).


Who needs to have their ID verified?

Type

 

Sole Trader

The owner of the business

Company (PTY LTD)

Any individual holding 25% or more share ownership of the Company, either directly, or through a parent entity.

If there are no majority shareholders, then the most Senior Managing Director.

Trust

If the Trustees are individuals: the most Senior Official of the Trustees.

If the Trustee is a Company: the most Senior Managing Director

Government (inc Councils)

No ID verification is required for individuals from a Government-owned entity. Confirmation may be needed that the signing individual has authority to sign the agreement on behalf of the entity.

Partnership

The most Senior Managing Official of at least one partner.

If the partnership is between individuals, one Partner.

Incorporation

The single most Senior Managing Official of the three officers listed below, most often the Chairperson.

  • Chairperson

  • Secretary

  • Treasurer

 


Bank statement

To allow us to confirm the Business Bank Account Details, you’ll need to provide either a bank statement or a letter from your bank issued within the last 3 months that displays:

  • Bank account name in the name of your legal entity or registered business name (Sole trader, Company, Trust, etc)

  • Bank Name

  • Full BSB

  • Account number

We do not accept screenshots from internet banking screens.

If a bank statement is not available, alternative documents can be provided. Our team will be able to provide more information regarding this.


If the applying entity is Government owned

You may need to provide written confirmation that you have Authority to sign on behalf of the entity.


If payments need to be processed via invoices and/or MOTO payments:

The applying entity will be required to provide a Letter of Engagement or Terms and Conditions that shows the following:

  • Delivery details

  • Refund policy

  • Privacy policy

  • ABN

  • Description of Products/Service, including price


If you are planning to take a payment for an Event

You will need to show a link through to the event website, or if you have no website, you will need to provide us with marketing material to confirm the event and pricing.


Who must sign the agreement

An authorised signatory is required to sign the CSA (client service agreement) on behalf of the individual or entity they are applying on behalf of. The following is a list of those authorised to sign off:


Type

 

Sole Trader

Sole Trader

Company (PTY LTD)

One company Director

Trust

One Trustee or Most Senior person from a Trustee company

Government (inc Councils)

One Executive/Board member, or formally authorised staff member

Partnership

One partner

Incorporation

One of the three officers listed below

  • Chairperson

  • Secretary

  • Treasurer