A Step-by-Step Guide to Setting Up Your Paysera Business Account
Step 1: Registering Your Company with eFinance
Before you can open a business account with Paysera, you need to complete your company registration through eFinance Solutions. This service simplifies the process, ensuring it is efficient and straightforward. Once your company is registered, you can proceed to open a bank account.
Step 2: Creating a Personal Paysera Account
Download the Paysera Super App: Available on both iOS and Android platforms.
Choose Your Language: Open the app and select your preferred language.
Create Account: Tap 'Create Account' and enter your phone number.
Set Up Password: Create a secure password.
Agree to Terms and Conditions: Tick the box to accept the terms and conditions.
Phone Number Confirmation: Confirm your phone number with a code sent via SMS.
Set Up PIN Code: Create a strong PIN code for added security.
Enable Touch ID or Face ID: For easier access, enable Touch ID or Face ID.
Complete Registration: Registration for your personal account is complete!
Step 3: Verification and Identification
Notification Alert: Tap on the notification to complete the identification process.
Email Confirmation: Enter your email address, receive a confirmation code, and confirm your email.
Complete Questionnaire: Fill out the required questionnaire.
Verify Information: Confirm that all provided information is accurate.
Document Submission: Choose your document issue country and type, prepare the document, and take a photo of it.
Selfie Verification: Take a selfie for verification purposes.
Personal Account Ready: Your personal account is now ready to use. Use these details to log in and open a business account.
Step 4: Opening a Paysera Business Account
Eligibility: A business account can be opened by the head of the company or an appointed person with power of attorney.
Required Document - Shareholder List: Obtain a list of shareholders from the company registry. If your country’s registry isn’t public, the document needs confirmation by a notary or an e-signature from the registry. It must show all individuals benefiting from the company.
Via Browser:
Profile Access: Click on your profile icon.
Select Business Account Option: Choose ‘Open a business account’.
Via App:
Settings: Tap ⚙️ and select 'Business accounts'.
Open Business Account: Tap ‘Open business account’.
Enter Company Details: Select the registration country, enter the registration code, and press ‘Check’. If your country is not listed, select ‘Other country’.
Submit Information: Provide all required information and upload the necessary documents.
Required Documents: Company registration document, document proving the appointment of the head of the company, and the shareholder list.
Benefits and Possibilities of a Paysera Business Account
One Account – Many Possibilities
With a Paysera IBAN account, you can transfer money quickly and easily in many different currencies across the world. Transfers in Europe (SEPA) are FREE OF CHARGE for private clients! And there is even more we can offer.
Fast International Transfers
Free SEPA Transfers: Unlimited and free instant transfers in euro, 24/7, all year round for private clients. For businesses, it costs only €0.29.
SEPA Instant Transfers: Real-time euro transfers available 24/7, free for private clients, and €0.29 for businesses.
Global Transfers: Fast international transfers in 30 different currencies within 30 minutes.
Paysera User Transfers: Transfers between Paysera users within seconds using phone numbers or email addresses.
Favourable Currency Exchange Rates
Multicurrency Account: Hold money in several currencies at once.
Real-Time Exchange: Currency exchange to 30 different currencies at favourable rates.
Competitive Rates: Equivalent or better than commercial banks, with discounts for large amounts.
Contactless Payment Card
Security: Two-factor authentication for safe online purchases.
Convenience: Contactless payments at POS with NFC card readers.
ATM Access: Cash out at any ATM accepting Visa cards.
Separate Card Account: Manage spending easily with a card account separate from the main account.
Easy Management: Order and manage your card via the mobile app.
Convenient Mobile App
All Services at Your Fingertips: From transfers to currency exchange, the app provides comprehensive banking services.
Real-Time Notifications: Instant updates on incoming transfers.
Card Management: Check balance, transfer money, change limits, see PIN reminders, and block the card if needed.
Additional Features: Separate savings accounts, split bill feature, money requests, QR code payments, and more.
Business Account and Payment Solutions
Easy Opening: Open a business account online without paperwork.
Payment Gateway Service: Integrate popular payment methods with the Paysera Checkout service.
Comprehensive Management: Manage your business account online and via the mobile app.
Event Ticketing: Use Paysera Tickets for selling tickets and publicising events.
Adding a Team Member (Accountant)
A corporate account can be managed by the head of a company and other employees who have been granted such rights in the system by the head.
In order for the head of a company to grant permissions to perform transactions in the corporate Paysera account to other employees, the employees must be identified Paysera clients.
How to Grant Permission to Another Person:
Log in to Your Account: On the left-hand menu, select Settings > Limits, Rights, Permissions > Rights and transfer limits and click on Create new permission.
Enter Employee Details: Enter the employee’s User-ID, registered email address, or registered phone number (login name) and click on Add.
Set Rights and Limits: Indicate the rights and limits you want to grant and click on Save. The granted rights and limits will come into force in 12 hours.
Paysera Fees for Estonian Companies
Account Registration: Free.
Monthly Account Management Fee: €3.
International Transfers: Fees start at €7, depending on the destination and currency.
Paysera Debit Card: €5 issuance fee, plus a monthly maintenance fee of €0.75.
Currency Conversion: Competitive rates with detailed fees depending on the currency.
Receiving Payments: Free for SEPA payments; fees apply for non-SEPA payments.
Always review Paysera’s latest fee schedule to stay informed about any changes .
Restrictions
Paysera does not support certain industries. Please review the Paysera Acceptable Use Policy to see restricted business categories.
Conclusion
Opening a Paysera business account after registering your company with eFinance is a straightforward and beneficial process. With Paysera, you can enjoy a user-friendly interface, competitive fees, and a wide range of financial services to efficiently manage your business.
Useful Articles on Banking
Banking Basics: A guide on the fundamentals of banking for e-residents.
Banking Comparison: A comparison of different banking options available to e-residents.
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