it is in fact compulsory to hold a business account (IBAN). We are unfortunately not allowed to pay out into a private account. Even when your account is used exclusively for business purposes, it is not allowed to link it to your Mollie account.
Our Onboarding Team checks whether your bank account is in fact in the name of your company. In case of any doubt (for instance, because the company name is identical to the name of a person) we may ask you to provide proof that it is actually a business account.
As we exclusively process payments for businesses, your organization must also be registered with the Chamber of Commerce. Read more about this condition here.