Account Verification Requirements

At Lightning Pay, as a registered Financial Services Provider, we are legally required to verify our customers' identities to ensure compliance with regulatory obligations. This process helps us maintain a secure and trustworthy service.

To complete account verification, we will collect and securely store specific personal information tied to your account.

Personal Accounts

For personal account verification, the following information is required:

  1. Identification Document:
    • A clear photo of an official ID document, such as a passport or driver’s license.
  2. Proof of Address:
    • A recent utility bill, council bill, or bank statement displaying your name and address.
  3. Verification Selfie:
    • A face scan ensuring liveness and matching your image against your ID document
  4. Bank Account Verification:
    • Independent verification provided by Akahu, which connects securely to your bank using your login details. This allows us to cross-reference your bank-verified personal details with the information you’ve provided. Learn more about Akahu here.
    • For NZD deposit (only), you may submit a bank document to demonstrate ownership of an account for selling bitcoin to NZD.

Business or Merchant Accounts

In addition to the requirements for personal accounts, the following documents are necessary for business or merchant account verification:

  1. Shareholder Identification:
    • Proof of ID (passport or driver’s license) for all beneficial shareholders.
  2. Proof of Address for Shareholders:
    • Recent documentation showing the address of all beneficial shareholders.
Beneficial Shareholders are defined by
  • Individuals ultimately owning over 25% of shares in a business, directly or indirectly through another company structure.
  • All directors of the business, or directors of another business if that entity owns more than 25% of shares of the business that is being onboarded.

These measures are in place to ensure compliance with legal standards and protect all users of Lightning Pay. For further assistance, feel free to contact our support team.