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AML KYC Compliance

KYC compliance: Verify your account


Welcome to your Know Your Customer (KYC) compliance guide.

As a regulated payments processor, Flo2Cash is legally required to confirm the business information of all Flo2Cash merchants.

This essentially means that there are certain checks we need to do before your business can begin using or continue to use the Flo2Cash platform. It's an ongoing requirement for all merchants.

These requirements come from our regulators and financial partners to keep your data secure.

And remember - if there are any changes to the information you've provided, you'll need to let us know immediately by reaching out to our dedicated support team.

That way, we can keep our information up-to-date and secure, and help protect all of our merchants and customers.

Before we get started...

Identifying the authorised persons for your entity is the most complex yet crucial part of this compliance process. But not to worry - we're here to help.

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KYC Compliance Guide


Step 1. Determine your required documents.

Depending on the type of business you are (e.g. company, charitable organisation, incorporated society) these are the type of business documents Flo2Cash requires from you:

  • Bank Statement
  • Company Extract
  • Trust Deed
  • Constitution
  • Source of Wealth - e.g. annual financial report.

Step 2. Identify all authorised persons for your business.

Authorised persons are all:

  • directors
  • senior management e.g. Chief Executive, Chief Financial Officer
  • shareholders (with more than 25% of the issued capital in the company)
  • officers
  • trustees
  • people with access to, or control of, funds
  • Flo2Cash administrators*.

* A Flo2Cash administrator is anyone who is authorised to instruct Flo2Cash to make changes to your account.

Step 3. Verify the identity information of all authorised persons.

You need to provide a copy of one of the following documents for each of your authorised persons.

Option 1 | Passport.

Option 2 | New Zealand Drivers Licence and New Zealand Birth Certificate.

Option 3 | New Zealand Drivers Licence and Bank Statement showing the person's full name.

Their photo ID must contain the name, date of birth, a photo, and their signature.


Step 4. Confirm the residential addresses of all authorised persons.

You'll now need to provide a copy of one of the following documents for each of your authorised persons.

  • Bank statement.
  • Local authority rates or water bill.
  • Utility bill (gas, power, fixed phone line, internet, SKY TV).
  • Current insurance policy.
  • Lease agreement (signed by both the tenant and the landlord).
  • Government agency statement.
  • An official document from KiwiSaver or superannuation scheme.
  • An official document from the Inland Revenue.

The document should not be more than three (3) months old and must also show the person’s full name and current residential address.


Step 5. Confirm the address of your business.

Almost there. Now, you need to provide a copy of one of the following to verify your business address.

  • Bank statement.
  • Local authority rates or water bill.
  • Utility bill (gas, power, fixed phone line, internet, SKY TV).
  • Current insurance policy.
  • Lease agreement (signed by both the tenant and the landlord).
  • Government agency statement.
  • An official document from KiwiSaver or superannuation scheme.
  • An official document from the Inland Revenue.

The document should not be more than three (3) months old and must show the business' name and current physical address.


Please note: Flo2Cash cannot accept the following documents

  • credit card statements
  • any documents which state 'in the care of'
  • copies of passports or drivers licenses without a signature
  • mobile phone bills or statements.


Step 6. Certify all documents required.

As a last step, you need to make sure that all documents submitted to us are certified by a trusted referee.

In New Zealand a trusted referee is one of the following:

  • Chartered accountant (within the meaning of section 19 of the New Zealand Institute of Chartered Accountants Act 1996).
  • Lawyer (as defined in the Lawyers and Conveyancers Act 2006).
  • Notary public.
  • Justice of the peace.
  • Commonwealth representative (as defined in the Oaths and Declarations Act 1957).
  • Member of the police.
  • Registered medical doctor.
  • Kaumātua (as verified through a reputable source).
  • Registered teacher.
  • Minister of religion.
  • New Zealand Honorary consul.
  • Member of Parliament.
  • A person who has the legal authority to take statutory declarations or the equivalent in New Zealand.

The trusted referee must not be

  • a family member
  • their spouse or partner
  • someone who lives at the same address
  • younger than 16 years old
  • involved in the transaction or business requiring the certification.

The trusted referee must sight the original documents and make a statement that the documents provided are a true copy and represent the identity of the named individual.

To certify a document, a trusted referee must state their

  1. Full name.
  2. Signature.
  3. Occupation.
  4. Date of certification.
  5. Stamp or Official Identification Number.
  6. A statement to the effect that the documents provided are a true copy of the original and represent the identity of the named individual.


Certification when overseas

If you need to certify your documents overseas, it must be certified by a person authorised by law in that country to take statutory declarations.

All documents provided must be in English, otherwise, an official translation certificate must be provided by an independent and professional translator.


The last word…

Our goal is to make your onboarding process with us as simple and straightforward as possible.

Sometimes, however, our support team may need to follow up with you for additional information to complete these checks.

We appreciate your patience if this is ever the case!

If at any time you have questions or need help, our team is always here for you.


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Note: The intention of KYC compliance and verifying your account is to prevent abuse of the financial system, and to comply with the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 ("AML-CTF Act"). Any information you provide to us is reviewed internally and aligned to our Privacy Policy.