In order to be able to verify the bank account we ask you to transfer 1 cent into our account. We check the transfer on several points:
- whether the account number matches the one you filled out in your account;
- whether the account name matches the trade names of your company;
- whether or not it is a business account (this is obligatory);
- whether the account number is an IBAN number (this is obligatory);
- whether you have access to the account;
To be clear: you are to transfer the 1 cent from the account into which you want to receive our payouts.
There can be a number of reasons why the bank account verification failed:
- You used the wrong account when you transferred the amount. Perhaps you used a private account or a different one that you do actually use for your company.
- The account name does not match any of the trade names.
- The bank account is in your private name. It may be a business account, but there is no easy way for us to check this. We may ask you to send us an additional document to prove that it is in fact a business account.
Do none of the above-mentioned causes apply to your situation and would you like some more information about the reason your bank account has not yet been approved? Then please send u an email to email@example.com.
Read also: Is a business account compulsory?