How to Complete Card Onboarding
After creating an account with Mondido and providing your business information, you will proceed to our Onboarding process for payment methods.
To begin, navigate to the "Card" section and click on the row to start the onboarding for card.
Important Information Before You Start:
- Submit your application with sufficient time to ensure timely processing.
- Visa Location Rule: At least one stakeholder of your company must have an address in the same country where your business is registered. This can be the owner, an employee, or another stakeholder.
- Website Review: We will need to review your website. If your website is not yet active, please provide login credentials to a test version.
Step-by-Step Guide to Completing the Onboarding:
Login to your account -> Navigate to "account details" and press the drop down for Card to enter your application.
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Describe Your Business
Provide a detailed description of the products or services you will be selling in your webshop. Include any variations in the types of products/services you offer. Your agreement will be based on the information you provide here. -
Average Order Value
Enter the average amount for an order in your webshop. -
Recurring Payments/Subscriptions
Select this option if your business involves recurring payments, such as subscriptions where customers pay a fixed amount at regular intervals. -
Product Delivery Method
Select this if you physically deliver your products (e.g., products are shipped to customers or collected in-store). If you sell digital products or services (such as eBooks or software), select the non-physical delivery option. If you offer both, choose Physical Delivery.
For example: you sell products online and ship them or the product are collected at your shop by your customers. Example on non physically sales is if you sell a service or digital products. If you have both physical and digital products chose "Physical delivery". -
Dropshipping
If your business model is based on dropshipping, select this option. Dropshipping allows you to sell products without handling inventory or shipping. For more details, please refer to our guide on Dropshipping and Card Applications. -
Shipping Timeline
If you selected physical delivery, specify the average time it takes to send out products or deliver services. For example, if you ship 50% of products within 24 hours and the remaining 50% in 3 days, select "Less than 5 days". -
Bank Information
- Bank Name: Enter the name of your bank.
- Account Currency: Select your account's currency.
- IBAN: Enter your bank's IBAN (usually found on bank statements or your online banking).
- SWIFT Code: Provide your bank's SWIFT/BIC code (available on bank statements or your bank’s website).
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Ownership Structure
Select your company’s ownership structure and upload the following documents:- Company Registration Document: Upload the official document showing your company’s registration.
- Owner Information: Upload a document listing all the owners of your company.
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Website Compliance
Ensure your website meets all the necessary requirements and mark it as active once compliant. -
Stakeholder Information
- Enter the full name of the stakeholder(s).
- Indicate whether the person is an Owner and/or Director. In the case of sole ownership, you are both the owner and the director.
- Enter the stakeholder's SSN or Personal Registration Number and Date of Birth.
- Upload a valid ID (National ID, Passport, or Driver’s License) and proof of residence (e.g., bank statement, utility bill, or any official document). The document should be no older than 3 months.
If there are additional stakeholders, click "Add Stakeholder" and repeat the process for each one.
11. Final Review and Submission
Once you have filled in all the required fields and uploaded the necessary documents, please review the information and click "Submit".
After Submission:
Once submitted, your application will be reviewed by our team. The review process is manual, so the processing time may vary. Rest assured, our team will verify your details as quickly as possible.
If you have any questions or need assistance during the onboarding process, please don't hesitate to reach out to us at support@mondido.com.