Hyperwallet Payee Verification
As a regulated global payment services provider, Hyperwallet is required to comply with several laws and obligations (Anti-Money Laundering - AML - and Counter Terrorist Financing - CTF). Which requires providers to ‘know’ their customers by validating and identifying data.
This verification will apply to Payees (teachers using Hyperwallet) located in the EEA (European Economic Area).
- For Individual accounts when reaching a threshold of 2,500 EUR
- For Business accounts, it will be required upon account activation
You will be prompted to confirm via the payee verification user-interface that your Personal Information is correct.
Once the personal information is confirmed, you will be asked to submit documents to verify your information.
- Proof of identity: You will be required to upload a color copy of your identification document (Passport, Driver’s License or National Identity Card)
- Proof of Address: A copy of a document showing your current address will also need to be uploaded. The address must correctly match the address in your Paypal account. Documents such as bank statement, credit card statement, official government letter, property tax assessment, tax return, and utility bill are accepted as proof of address.
Once you have uploaded and submitted the documentation, the information will be been reviewed* and verified. You'll then be informed and you'll be able to receive payments sent to your default account.
*It may take up to 2 business days for your documents to be reviewed