These 2 statuses lead to the following combinations:
- Needs data and payments are not approved
- Needs data and payments are approved
- In review and payment are not approved
- In review and payments are approved
- Completed and payments are approved
Needs data and payments are not approved
- Company details
- Information about stakeholders
- Website details
- Payment method selection
If the organisation is a charity, a non profit, operates in a high risk business, contains a politically exposed person or any other high risk company form, they must also provide:
Needs data and payments are approved
Your consumer is low risk and therefore they can already receive transactions after just delivering:
In review and payments are not approved
Your consumer submitted all the information to check the application. Because your consumer’s organization is considered high risk, payments are not approved yet and the check will take some more time.
In review and payments are approved
Your consumer submitted all the information and can receive transactions. We’ll pay the merchant after approving the account. We check the account after their first transaction of € 5,- or more, or when their total balance is € 5,- or more.
Your consumer can now receive payments and settlements.