If you've been asked for information for an account review, or if you're looking to prepare for one, this page is for you.
This article provides clear guidelines on the business details and documents that can help your review go smoothly. Keep reading for a list of commonly requested items and tips for providing them effectively.
In this article
Why we’re asking for more information
When you set up an account to process payments, providing certain business details is a standard and important step for any payments company, including Helcim.
Here’s a brief overview of why we might be requesting additional information:
To verify your business identity: We need to confirm that your business is legitimate and that the details you've shared are accurate. This ensures we know who we're partnering with and establishes trust with our merchant base.
To meet legal and regulatory requirements: As a payment processor, we operate under specific industry regulations and legal obligations (like "Know Your Customer" rules common in financial services). These rules require us to collect and verify key information about the businesses we serve, which helps prevent fraud and maintains our integrity as a business.
To ensure a secure payment platform: By understanding and verifying the businesses using our services, we can maintain a safe and reliable environment. This allows all our merchants, including you, to process payments with confidence.
A list of key information & documents
Our Trust & Safety team will always specify exactly what's needed in their emails to you.
However, here are some common business information and documentation types that would be helpful to prepare.
For confirming your business's legal standing
Articles of incorporation/organization
Guideline: Your official corporate registration documents.
Why it helps us: Verifies your business's legal structure and official formation.
Business licenses
Guideline: Current local, state/provincial, or federal operating licenses relevant to your industry.
Why it helps us: Shows your business is authorized to operate its specific type of business in its location.
Employer Identification Number (EIN) / CRA Business Number (BN) documentation
Guideline: Your official tax identification number issued by the IRS (for US merchants) or CRA (for Canadian merchants).
Why it helps us: Confirms your business's registration with national tax authorities.
For understanding your business operations & presence
Business website & online listings
Guideline: Your active business website, professional social media profiles, or online directory listings.
Why it helps us: Verifies your public business presence and the products or services you offer.
Marketing materials
Guideline: Digital or physical examples like brochures, or photos of business signage.
Why it helps us: Further confirms your business identity and what you offer to your customers.
Proof of operations
Guideline: This could include photos of inventory, your storefront, or business-specific tools. Recent business invoices to your customers or supplier invoices can also be useful.
Why it helps us: Provides tangible evidence of your business activities and operational setup.
Clear description of business operations
Guideline: A simple, straightforward explanation of how your business functions.
Why it helps us: Clarifies your business model, especially if it’s unique or has multiple facets (e.g., online sales and in-person services)
For verifying personal identity
Valid government-issued photo ID
Guideline: A clear copy of a Driver's License or Passport for the primary applicant(s) or business owner(s).
Why it helps us: Confirms the identity of the key individuals responsible for the business.
| You don't need to send these documents unless specifically requested by our team. However, knowing where they are and ensuring they are current can save you time if a review occurs. |
Common pitfalls during reviews
To help ensure any review process is as straightforward as possible, here are a few common hurdles and tips on how to avoid them.
Incomplete or unclear submissions
If sending documents, double-check that all pages are included and that any scans or photos are clear and easily readable.
Information mismatches
Ensure your business name, operating address, and owner details are consistent across all documents and match the information in your Helcim application.
Using outdated documents
Always provide the most current versions of licenses, permits, or other documents that may have expiration dates.
Vague ownership details
For businesses with more complex structures (like corporations or partnerships), ensure your documentation clearly indicates the beneficial owners.
General tips for reviews
Beyond specific documents, a few general practices can significantly help.
Keep good records
Maintaining organized business records is a good habit and makes finding any needed information much easier and faster.
Get digital copies
If requested, submitting clear digital versions (like PDFs or JPGs from scans or photos) of documents is usually the most convenient method.
Read communications carefully
If our team reaches out with a request, please take a moment to read it thoroughly to understand exactly what’s needed.
Communicate openly
If you’re unsure about a request, can't provide a specific item, or need something clarified, let our team know by replying to their email. We can often discuss alternatives or provide more context.
Next steps
For a refresher on the review process itself, see: What to expect during an account review.
For a complete overview of why reviews happen, visit: Why is my account being reviewed?
FAQs
Do I need to gather all these documents when I first sign up for Helcim?
No, not necessarily. This article is a guide to help you prepare in case we need more information from you. You only need to provide specific documents if our Trust & Safety team requests them during an account review.
My business is brand new. What if I don’t have items like old invoices?
That's completely fine! We understand new businesses won't have an extensive history. We review each business based on its specific situation. Provide what's relevant, and our team will work with you.
Should I send more documents than what’s asked for, just to be safe?
It's best to provide exactly what our team requests. This keeps the review focused and efficient. If more information is needed, we will specifically ask for it.
If I'm well-prepared, does that guarantee a faster review or prevent any deposit delays?
Being well-prepared with clear and accurate information can certainly help the review process go more smoothly and efficiently. While it doesn't change the underlying reasons for a review, good preparation definitely helps in resolving the review as quickly as possible.