GuruPay Verification Requirements

Uploading the most accurate, complete information and documentation is important to ensure your GuruPay application is verified as quickly as possible. This article contains the details required for the relevant information required by GuruPay for verification:

• Bank Statements
• Points of Identification Documents (POI)
  • Who is identification required for?
• Company Documentation Requirements.
  • Trust Deeds
  • Other Company Structures
    • Not for Profit organisations
    • Tax Accountants and Bookkeepers
    • AFSL and AUSTRAC

Please contact the WorkGuru support team if you have any questions regarding WorkGuru verification requirements.

Bank Statements

A copy of your company's bank statement is required for our KYC, AML, and CTF obligations. The bank statement must:

• Be issued within last 3 months
• Contain at least 1 month worth of transactional history
• Not redacted
• Show the account name and this must match the company name. We cannot settle funds to an individuals / non business account if the company is a Pty Ltd.

If the business is new, information on the company’s operation and a bank account opening statement is acceptable.

Points of Identification Documents (POI)

All POI documents need to be in colour and in date (not expired):

• Drivers licence - Front and back, clearly showing the license and card number and confirming current residential address.
• Or Passport AND Utility Bill - If providing a passport, we also require a utility bill confirming the individual's residential address.

Who is identification required for?

• Director - POI document for one (1) director
• Ultimate Beneficial Owners (UBO) - A UBO is any individual with 25% of more shares in the company registering with Pinch Payments. Identifying all UBOs is crucial for compliance with anti-money laundering (AML) regulations and for preventing financial crime.

We require POI documents for all listed UBOs of the company. How to identify UBOs:

• Corporate Registries - For non-publicly traded companies, corporate registries (like ASIC in Australia) maintain incorporation filings and records, which can help track down ownership.
• Other Relevant Documents - Look for information in trust deeds, partnership agreements, and other relevant document

GuruPay, through Pinch Payments will also assist in identifying all UBOs of a company via AUSTRAC and ASIC

searches.

Company Documentation Requirements.

Trust Deeds

A copy of the companies Trust Deed Trust will need to be provided if the company shares are held within a trust or other entity structure. Trust Deeds are used to identify the settlor, trustee, and beneficiaries of the company.

There are multiple ways a company may have a Trust Deed that should be provided with the GuruPay application:

• If the ABN shows that the business name is a Other Incorporated Entity, Discretionary Trading Trust, Discretionary Services Management Trust, Fixed Unit Trust, and more.
• If the ASIC report states that the shares are not beneficially held then a trust deed may need to be provided.

Other Company Structures

Membership Organisations

If your company is an Other Partnership, Membership Organisation, Sports Club, If there is no Trust Deed for the structure of your company, then a copy of board meeting minutes or other documentation to demonstrate the structure and agreed membership of your company will need to be provided. Eg, Constitution etc

Not for Profit organisations

If your company is a not-for-profit organisation, you must be registered with the Australian Charities and Not-for Profits Commission (ACNC)

Tax Accountants and Bookkeepers

If you are a tax accountant or bookkeeper, you must be registered with the Tax Practitioners Board

AFSL and AUSTRAC

New compliance requirements necessitate that we ask merchants whether they:

• Hold an Australian Financial Services License - If yes, please provide us with the AFSL number.
• Are AUSTRAC registered - Only require a yes or no.