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KYC & DOCUMENT COLLECTION POLICY

Last Updated: 02-03-2026

1. Introduction and Our Role

OnlyTeaCorp OÜ (registry code: 17328029, Estonia) operates as an Independent Sales Organization (ISO) and technical intermediary connecting Merchants with acquiring banks and payment processors.

Due to strict European and international Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) regulations, all acquiring banks require a comprehensive Know Your Customer (KYC) procedure before approving a merchant account.

IMPORTANT DISCLAIMER: OnlyTeaCorp OÜ does not underwrite accounts, perform final AML risk assessments, or make approval decisions. Our role is strictly limited to acting as a secure preliminary collection channel. We gather the required KYC documentation from you and transmit it securely to our partnered acquiring banks, who act as the final decision-makers and regulatory compliance officers.

2. Purpose of Document Collection

We collect your corporate and personal documentation solely to:

  1. Build your application dossier.

  2. Submit your profile to the most suitable acquiring bank(s) for your specific business model.

  3. Facilitate the mandatory Due Diligence and underwriting process conducted by the financial institutions.

3. Standard KYC Document Checklist

To initiate the onboarding process, Merchants must provide the following documentation. (Note: Our banking partners may request additional documents depending on your risk profile, industry, or processing volume).

A. Corporate Documents:

  • Certificate of Incorporation (or local equivalent).

  • Articles of Association / Memorandum of Association.

  • Recent Company Registry Extract (issued within the last 3-6 months, showing active status).

  • Proof of Domain Ownership (showing the company or a director owns the website URL).

  • Business License (if applicable to your specific industry).

B. Personal Documents (For all Directors and Ultimate Beneficial Owners – UBOs owning 25% or more of the company):

  • Valid Government-Issued ID: A high-quality color scan of a Passport or National ID card (both sides).

  • Proof of Residential Address: A recent utility bill (gas, water, electricity) or personal bank statement issued within the last 3 months, clearly showing the individual’s full name and home address.

C. Financial and Processing Documents:

  • Corporate Bank Account Statement: A recent statement (last 3-6 months) for the account where you wish to receive payouts.

  • Processing History: If you are an existing business, 3 to 6 months of previous processing statements showing volume, chargeback ratios, and refund rates.

4. Data Transmission and Security

Because KYC documents contain highly sensitive personal and corporate data, OnlyTeaCorp OÜ employs strict security measures:

  • Secure Submission: Documents must be submitted through our designated secure channels (e.g., encrypted email via support@ireowo.es or a secure upload portal).

  • Direct Transfer: Once collected, your dossier is securely transmitted directly to the compliance department of the respective acquiring bank.

  • Confidentiality: We do not share your KYC documents with unauthorized third parties, marketers, or any entity outside of the necessary payment processing chain.

5. Bank Requests and Delays

The acquiring bank’s compliance team conducts the actual AML and risk verification.

  • If the bank deems the provided documents insufficient, blurry, or requires further clarification about your business model, we will act as the liaison to request this additional information from you.

  • OnlyTeaCorp OÜ is not responsible for any delays in the onboarding process caused by the acquiring bank’s compliance checks or the Merchant’s failure to provide requested documentation promptly.

6. Data Retention

We retain your KYC files only for as long as necessary to facilitate your application, manage your active account, and comply with Estonian data protection and corporate record-keeping laws. For more detailed information on how we handle your data, please refer to our Privacy Policy.