Bank account and personal information requirements for using Shopify Payments for Estonia

Before you can use Shopify Payments in Estonia, you need to understand the bank account requirements and information requirements.

These requirements are in place to comply with regulations and prevent financial crimes. In this article, you can find information on requirements when using Shopify Payments in Estonia, the types of documents accepted, and guidance on ensuring that your documentation meets the necessary criteria.

Overview of requirements for Shopify Payments in Estonia

Before you use Shopify Payments in Estonia, you must ensure that you meet the following requirements:

Eligible business types: Certain types of businesses and services aren't permitted to use Shopify Payments. To determine whether your business is eligible, refer to the list of prohibited business types for Estonia in the Shopify Payments Terms of Service (TOS).
Bank Account Requirements: Your bank account must meet the following requirements before you can connect it to Shopify Payments:
- The bank account is with an EU or Estonia - based bank in EUR.
- The bank account is eligible for SEPA transfers, and can accept debits.
- The bank account has an International Bank Account Number (IBAN) that starts with the following letters: AT, BE, CH, DE, DK, EE, ES, FI, FR, GB, GI, GR, HR, HU, IE, IT, LT, LU, LV, MT, NL, NO, PL, PT, RO, SE.
Information requirements: To comply with regulatory requirements and prevent financial crimes, you must provide information about yourself and your business. This includes details about the individual creating the Shopify Payments account, the associated business, and the individuals who own or control the business.

Purpose of collecting personal information

The collection of personal information is necessary to identify merchants using Shopify Payments and to comply with regulatory requirements. This helps prevent money laundering, terrorist financing, and other financial crimes. As regulations evolve, Shopify and its partners might request additional information from you to ensure compliance. These reviews can happen at any time.

Required information

The information that Shopify is required to collect varies from country to country. In the case of Estonia, details of the following individuals or business entities are required:

The individual creating the Shopify Payments account, including personal tax information.
The business associated with the Shopify Payments account, including company tax information.
The individuals who ultimately own or control the business, including the business owner or a senior executive with legal signing authority.

Acceptable document types

To help with the verification process, you need to provide certain documents to validate your personal information and in some cases your business information. The following document types are acceptable for individuals and businesses in Estonia.

Identity documents

When submitting identity documents, they must include your full legal name, date of birth (DOB), and your photo. The following are the accepted identity documents when using Shopify Payments in Estonia:

Pass (Passport)
Juhiluba (Driver's license)
ID-kaart (Identity card)
Elamisluba (Residence permit)

Address documents

When submitting address documents, they must include your full legal name, the personal address that you add to your Shopify Payments profile, and, if stated, be dated within the accepted date range. The following are the accepted address documents when using Shopify Payments in Estonia:

Elukoha registreerimine (Residence registration)
Kommunaalarve (Utility bill) - dated within 6 months
Kontoväljavõte (Bank statement) - dated within 6 months
Bin or waste disposal bill

Company or entity documents

When submitting company or entity documents, they must include the full business name that matches the business name that you add to your Shopify Payments profile, tax identification number (TIN) from your local tax authority, and the business address that matches the address that you add to your Shopify Payments profile. The following are the accepted business documents when using Shopify Payments in Estonia:

Käibemaksukohustuslasena registreerimine (VAT registration)
Äriregistri registrikaart (Commercial register extract)
Maksuandmete tõend (Tax certificate)

Ensuring documentation compliance

When providing your documents, you need to ensure that they meet the necessary criteria. Use the following guidelines to ensure compliance:

Accuracy and validity: Ensure that the information on your documents is correct and valid.
Clarity and legibility: Make sure that your documents are clear and large enough to read.
Completeness: Provide all necessary details and ensure that all information is visible. Don’t crop, edit, or redact your documents.
Consistency: Ensure that the information on your documents matches the information provided during the account setup process.
Currency: Keep your documents up-to-date with the most recent data possible.
Error-free: Review your documents for any errors or spelling mistakes.
Avoid Copies: Submit original photographs of your documents whenever possible, and avoid scanning or copying them. If your documents were digitally issued, then submit the original, unaltered PDF.