What Does Authorization Mean?
- Authorization is a required permission from your company's director or a significant shareholder (holding at least 25% ownership) that allows you to open and manage a Paysend Business account on behalf of the company.
How to Provide Authorization
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If you're not a company director, we need to verify your authority to set up and manage the account in the company's name using one of the following methods:
Director Verification (preferred method)
- Invite a director to complete identity verification and confirm your authority to open and manage the account.
- The invited director will go through identity verification and grant permission for the applicant to manage the account.
Power of Attorney
- Provide a document that includes a statement from the owner or director, granting the applicant "permission to open, manage, and authorize other users to manage the Paysend Business account" (exact wording required).
- You can use a template to create this power of attorney document. The document must also:
- State the name of the company
- Include the signature of a director, beneficial owner, or all parties authorized by the company’s bylaws to appoint representatives
- Be dated within the last 3 months
- Include an Apostille if the document is issued outside the country of Paysend’s registration. You can find recognized authorities in your country on this website.
How Long Does Verification Take?
- The verification process typically takes up to 24 hours.