Requirements and Information
1. Setup company (optional, only needed when you don’t already own a Dutch company)
The accountancy office will inform you in detail what requirements are needed to set up a Dutch Limited.
2. Acquiring bank (Paysquare) screening requirements
• CEO/owner needs to be citizen of EU, USA, Canada, Japan, Australia (if not please check with us).
• It should be clear who the UBO’s are so information must be provided like company structure diagrams, shareholders involved, location of your headquarters etc.
• Client may not be on any MasterCard/Visa watch-list or Terminated Merchant File (TMF).
• 6 Months transaction history, volume and chargeback rates (if applicable).
• Corporate documents of both the Dutch company and foreign companies involved in ownership.
• Together with the application form we need to send to the bank a copy of chamber-of-commerce
company registrations of the current (foreign) and the new (Dutch) company (if applicable), transaction history, ID of CEO/Owner and a bank reference of the local Dutch bank where client has an account.
Domain(s) which will be used for processing need to have a direct relationship with company (best if whois details show direct relationship). Only in case you have a close relationship with a partner company where a clear connection between the parties involved can be proven, there are exceptions possible. In that case you have to sign a statement of exclusive domain usage.
3. Payment schedule
• Paysquare will pay directly to your Dutch bank account and withhold their commission.
• Payment is on weekly basis covering processing of previous week.
• In general there are no holdbacks or reserves.
• Bank can charge natively in multiple currencies (EUR, USD, GBP, CAD, JPY, SEK, DDK, NOK, CHF).
• Payout of US and Canadian Dollar transactions is in USD, all other payouts are in EURO.
The application at Paysquare/Equens takes between 4 – 6 weeks, because of various screening procedures at both Paysquare/Equens and MasterCard and VISA International. In the meantime we can work on the technical integration.
Contact Merchant Services for more details or to apply.
