Summary (TL;DR): This article explains the identity verification requirements and documentation needed to set up an Airwallex financial account to power Bill Pay and Spending Cards within Procurify.
Procurify Bill Pay and Spending Cards are powered by our regulated payments partner, Airwallex. Before your business can use either product, Airwallex must verify the identity of your company through a one-time process called Know Your Customer (KYC). KYC is a standard regulatory requirement for financial services designed to prevent money laundering and financial crime.
How do I start the KYC process in Procurify?
An administrator with the Manage financial account permission can launch the KYC flow directly within the platform. To begin, follow these steps:
Navigate to the Manage Financial Account page under Procurify settings.
Select the Set Up Account button.
If this option is not visible, contact the user in your organization who manages financial settings or reach out to your Procurify Customer Success Manager.
Please view What are Spending Cards for more information
Required Documents:
What documents are required for US-based businesses?
What documents are required for US-based businesses?
Business Identification
US-based businesses must provide documentation that verifies both the legal entity and the individuals associated with the account.
Business Identification Documents
Document Type | Requirements |
Business Identification | A copy of your EIN Letter or a screenshot from the IRS website. The document must display the EIN and an exact match to the legal name of the business. |
Formation Documents | Certificate of Formation (LLCs) or Articles of Incorporation (Corporations) filed with the Secretary of State. Internal Bylaws or Operating Agreements are not accepted. |
US Operations Evidence | 2-3 documents proving active US operations, such as a brick-and-mortar bank statement (excluding neobanks like Mercury), co-working space leases at a US address, or contracts with US-based third parties. |
Sample Letters & Certificates:
Where to request your formation document by state:
Beneficial Ownership and Personal ID
For each Authorized Person, Control Person (CEO/Executive), and Ultimate Beneficial Owner (UBO) owning 25% or more, you must provide:
A government-issued photo ID (Passport, Driver’s License, or National ID).
The Social Security Number (SSN) for all U.S. persons.
If the ownership structure is complex, provide a signed Beneficial Ownership breakdown on company letterhead dated within the last six months.
NOTE: Providing information on the identity of the Ultimate Beneficial Owner is mandatory if your organization plans to use Direct Debit in the future.
Additional Supporting Documents
To demonstrate your U.S. operations, please provide 2-3 of the following documents:
A recent statement from a brick-and-mortar U.S. bank account (excluding neobank statements like Mercury).
Contracts between your U.S. entity and established third-party U.S. businesses (e.g., logistics providers, contract manufacturers).
Invoice statements with your U.S.-based customers.
Evidence of U.S.-based employees (e.g., full-time employee contracts).
A service lease with a U.S. co-working space.
What documents are required for Canada-based businesses?
What documents are required for Canada-based businesses?
Canadian entities must provide specific provincial or federal documentation to comply with local financial regulations.
Business Identification Documents
Document Type | Requirements |
Business Number (BN) | Your 9-digit Business Number issued by the Canada Revenue Agency (CRA). |
Formation Documents | Certificate of Incorporation or Articles of Incorporation issued by a Canadian provincial or federal registry. |
Canadian Operations Evidence | 2-3 documents such as bank statements from a brick-and-mortar Canadian bank (RBC, TD, etc.), employee contracts for Canada-based staff, or Invoices from Canadian customers. |
Beneficial Ownership and Personal ID
For every individual owning 25% or more of the business, you must provide their full name, date of birth, residential address, nationality, and a photo of their Canadian Driver's License or Passport. If no individual meets the 25% threshold, you must identify the individuals with effective control, such as the CEO or a Director. Providing Ultimate Beneficial Owner (UBO) information is mandatory if the business plans to use Direct Debit in the future.
Providing information on the identity of the Ultimate Beneficial Owner is mandatory if your organization plans to use Direct Debit in the future.
Additional Supporting Documents
To demonstrate your Canadian operations, please provide 2-3 of the following documents:
Recent statements from a brick-and-mortar Canadian bank account (e.g., RBC, TD Bank, Bank of Nova Scotia, etc.). Please note that we cannot accept statements from U.S. neobank accounts (e.g., Mercury, Wise).
Contracts between your Canadian entity and established third-party Canadian businesses.
Invoice statements with your Canadian-based customers.
Evidence of employee(s) based in Canada.
A service lease with a Canadian co-working space.
What documents are required for UK-based businesses?
What documents are required for UK-based businesses?
Payment services in the UK are provided by Airwallex (UK) Limited, which is authorized by the Financial Conduct Authority.
Business Identification Documents
Entity Type | Required Documents |
Limited Companies | Certificate of Incorporation and Memorandum and Articles of Association. |
Partnerships (LLP/LP) | Certificate of Incorporation and a signed Partnership Agreement. |
Sole Traders | A utility Bill or bank statement dated within the last 3 months addressed to the legal entity. |
Personal ID and Authorization
All UK businesses must provide a Letter of Authorization signed by the directors. This letter permits the Authorized Person to act on behalf of the company. Additionally, personal ID and residential addresses are required for all Directors and Ultimate Beneficial Owners (UBOs).
Beneficial Ownership Details
If your ownership structure isn't immediately clear, please provide a detailed shareholding structure. This should include:
Full names, dates of birth, nationalities, and ownership percentages for individuals who own 25% or more of your business.
If no individual meets the 25% ownership threshold, please identify and document the individual(s) with effective control (e.g., your CEO or a director).
The registration country and shareholding percentage of each intermediary shareholding entity.
Your attestation should be on company letterhead, signed by a director, and dated within the last six months.
Authorization Letter
Please provide a letter of authorization signed by the directors for the authorized person to act on behalf of your company.
Personal Identification
For each of the following individuals, please provide official government-issued photo identification:
Authorized Person: The individual signing up for the account.
Control Person: An individual with significant responsibility to control, manage, or direct your business (e.g., CEO, senior executive).
Ultimate Beneficial Owner (UBO): Any individual who owns or controls, directly or indirectly, 25% or more of your business.
Acceptable forms of ID include: passports, national IDs, or driver's licenses.
Additional Supporting Documents
To demonstrate your UK operations, please provide 2-3 of the following documents:
Recent statements from a brick-and-mortar UK bank account (excluding neobank statements such as Wise).
Contracts between your UK entity and an established third-party UK business (e.g., logistics providers, contract manufacturers).
Invoice statements with UK-based customers.
Evidence of UK-based employees (e.g., full-time employee contracts).
A service lease with a UK co-working space.
General Tips to Speed Up Your Review and Avoid RFIs
To help process your application quickly and efficiently, please consider these tips:
Provide a comprehensive description of the products and services your business offers.
Include your business's website address. If a website is unavailable, providing documentation that clearly supports the nature of your business (e.g., invoices, service agreements, contracts) is mandatory.
For entities established over six months, Airwallex requires proof of operational activity within the jurisdiction of incorporation, in addition to evidence proving the business nature. Should these details not be readily apparent through your digital presence or furnished documents, supplementary supporting documentation will be mandatory. Please refer to the "Additional Supporting Documents" section above for examples.
How to Submit Additional Supporting Documentation
Before you submit your KYC information, you'll be prompted to double-check all your responses. A dedicated section for uploading additional documents is available at the bottom of the page. Click the arrow on the right to expand this section. You can upload supplementary documents either by dragging and dropping them or by selecting files directly.
Prohibited and Restricted Industries and Enhanced Due Diligence
Prohibited and Restricted Industries and Enhanced Due Diligence
What are the prohibited and restricted industries?
Airwallex maintains specific lists of industries that are either prohibited from using their services or require Enhanced Due Diligence (EDD). These lists ensure compliance with global legal and financial risk standards.
To determine if your business falls into one of these categories, please review the [Understanding Prohibited and Restricted Industries for Airwallex] article.
If your business operates within one of the industries listed, please reach out to your dedicated Procurify Customer Success Manager or Implementation Manager for additional information and resources.