Before you can receive payouts, you’ll need to add your bank account details in your Mollie Dashboard. We’ll review this information when you have £5,- or more in your account balance.
What you need to know in advance
- We ask that you make a bank transfer of £0.01 to verify your bank account. Unfortunately, if your bank has a minimum transaction amount of £ 1.00 for bank transfers, we will not be able to return any additional amount you send with the required £0.01 verification payment.
- You may receive a warning message when making the bank transfer. This is because our bank is not part of the Confirmation of Payee service.
What bank account can I use?
You must use a business bank account, as this is a requirement from some of our payment method partners. The only exception is for sole traders that are based outside of the Netherlands.
If you’re a sole trader based in a country other than the Netherlands, you may use a private bank account to receive payouts. However, you may be required to provide a business bank account to activate and use certain payment methods.
Why do I get a warning message when I make a bank transfer to Mollie?
You will get this message because our bank is not currently part of the Confirmation of Payee name-checking service. When you send a bank transfer to our account, your bank cannot automatically verify the name with the account details and will show a “Confirmation of Payee unavailable” message. This does not affect the bank transfer, so you can safely continue with the verification payment after checking that you have the correct bank account details.
Verifying your bank account
When you add a bank account, we’ll ask you to make a £0.01 payment to verify your bank details. We’ll then check the following:
- The bank account holder name matches the trade name on your business registration. For sole traders, the account name should match the legal representative’s name.
- You’re using a business account with an IBAN/UK account number. Only sole traders based outside of the Netherlands may use a private bank account.
- Your bank account is from the same country where your business is registered.
- The verification payment comes from the same bank account registered on your Mollie account.
If one or more of these details are incorrect, your bank account will not be approved and we’ll send you an email to provide a different bank account.
Good to know
- Some banks do not immediately allocate the correct name to a new bank account and will show a temporary name instead. We won’t be able to match a temporary account name to a verification payment, so you should only make a verification payment when your bank account shows the correct name.
- If you need to change your bank account details, you’ll be asked to use two-factor authentication (2fa).