The short answer
Have ready: legal business name and registration, tax identification number, ownership details for anyone holding 25% or more, a void cheque or bank letter for settlement, three months of processing statements or bank statements, and accurate figures for monthly volume, average ticket and maximum ticket.
The two fields people get wrong
Average ticket and maximum ticket. Understating either is the single most common cause of held funds later, because a transaction well above your declared maximum triggers automatic review.
What slows applications down
Mismatched business names between registration and bank account, unsigned ownership disclosures, and website compliance gaps for eCommerce — missing refund policy, terms, contact details or a visible business address.
Key takeaways
- Declare accurate average and maximum ticket
- Business name must match the bank account exactly
- eCommerce sites need policy pages live before approval
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