Bank account and personal information requirements for using Shopify Payments in Mexico

Before you can use Shopify Payments in Mexico, you need to understand the bank account requirements and personal 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, the types of documents accepted, and guidance on ensuring that your documentation meets the necessary criteria.

Overview of requirements for Shopify Payments in Mexico

Before you use Shopify Payments in Mexico, 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 Mexico 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 located in Mexico.
- The bank account is eligible for SPEI transfers.
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. Ensure that your documentation is clear, correct, up-to-date, and free of errors.

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 Mexico, information on the following people or 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 complete 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 Mexico.

Identity documents

When submitting identity documents, they must include your full legal name, Date of birth (DOB), and your photo. The documentation must be valid, and not past its expiration date. The following identity documents are accepted when using Shopify Payments in Mexico:

Pasaporte (Passport)
Tarjeta de identificación (ID card, scans of front and back are required)
ID consular / ID matricular consular (Consular ID/Matricular Consular ID Card)
Credencial de elector (Voter ID card)
CURP, Clave Única de Registro de Población (Unique Population Registry Code)
Acta de nacimiento (Birth Certificate)
Licencia de conducir (Driver license)

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 Mexico:

Recibo de servicios (Utility Bills) - dated within 6 months
Estado de cuenta de una institución financiera (Statement from a financial institution) - dated within 6 months
Aviso emitido por el gobierno (Government issued letter) - dated within 12 months
Licencia de conducir (Driver license)

Business or entity documents

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

Cédula de Identificación Fiscal (Tax ID)
Estatutos (Articles of Incorporation)
Reglamentos vigentes (Current Bylaws)
Poder notarial (Power of attorney)
Constancia de Situación Fiscal (SAT)

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: Double-check 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.