When you enable Payments for your practice, you will need to verify the identity of someone from your business who will act as your Company Representative before you are able to receive funds.
Note: Account verification is applicable for all regions in which Practice Ignition payments operates - though requirements may differ for each region.
Know Your Customer
Every country has its own set of rules about paying out funds to individuals and businesses. These are typically known as “Know Your Customer” regulations, or KYC. These regulations broadly require two things: collecting information, and verifying the information is accurate.
Under normal situations the information we require upfront should be enough to verify an account but for a variety of reasons additional information can be requested to complete the verification process and to confirm your identity.
Requests for additional information may also be made as you process larger volumes of payments through Practice Ignition.
Information We May Ask For
When you first get started with payments you will first be asked for the:
Entity type - selections will be based on region
Company information (unless an individual entity type is selected)
Full legal name of a company representative
Date of birth of a company representative
If we cannot verify you or your company with the details provided, or you are processing high transaction volumes, we may also ask you for documentary proof of identity of the company representative (such as a passport). This will need to be a high resolution colour copy in PNG or JPG format.
What Will Happen If You Don't Provide the above Information?
If you do not enter this information within 7 days or $2000 worth of charges (whichever comes first), we will temporarily pause all transactions until we have that information. If after 21 days we still do not have the information, we will refund the charges back to your client.
Who Can See This Information and How Is It Stored?
Practice Ignition does not store any of the information provided, it is passed securely to our partners for verification at the exact time you submit it.
Changing Your Company Representative
If you need to change your Company Representative, please contact our support team. You may be required to provide documentary proof of identity of the new company representative at the same time as changing their details.