PaysTree payment system (England)

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PaysTree payment system (England)

PaysTree Ltd is a UK registered payment system that provides electronic financial services to clients from Europe and the CIS. The main office is located in London.

The electronic money system works with SEPA payments, and also provides acquiring services. Paystree is focused on simplifying your financial transactions around the world, therefore, an individual private banker is assigned to each client and business.

OPEN AN ACCOUNT IN PAYSTREE

Types of accounts

Personal, corporate.

 

The payment system may consider opening an account for all jurisdictions, except for such as: Ghana, Congo, Democratic Republic, Guinea-Bissau, Haiti, Lebanon, Venezuela, Zimbabwe, Libya, South Sudan, Panama, Pakistan, Iraq, Somalia, Nicaragua, Myanmar, Syria, Yemen, Afghanistan, North Korea, Iran, Islamic Republic.

 

For a limited list of countries

, an enhanced compliance check applies.

 

Additionally Paystree does not serve ultra-high risk activities such as: binary options, drugs, illegal pyramids, trading, unregistered charities, industries working/selling/associated with prohibited countries and other illegal activities.

The cost of opening of the account

(payment system tariff)

Account opening cost:

- for individuals from the EU/EEA - 10 EUR (an additional charge of 50 EUR is possible for checking the client);

- for individuals from other jurisdictions - 50 EUR;

- for legal entities registered in the EU/EEA zone - 250 EUR;

- for legal entities registered in other jurisdictions - 1500 EUR.

 

Document review fee:

- for individuals from the EU/EEA - none;

- for individuals from other jurisdictions - 50 EUR;

- for legal entities registered in the EU/EEA zone - 250 EUR;

- for legal entities registered in other jurisdictions - 500 EUR.

Please note that in case of refusal to open an account, the commission is not refunded.

 

Minimum account balance:

- for individuals - not provided;

- for legal entities registered in the EU/EEA zone - 300 EUR;

- for legal entities registered in other jurisdictions - 1000 EUR.

Representative offices

None.

Management of the account

Private banking.

Payment system tariffs

Account maintenance:

- for individuals - free of charge;

- for legal entities registered in the EU/EEA zone - 50 EUR/month;

- for legal entities registered in other jurisdictions - 100 EUR/month.

 

Closing an account:

- for legal entities registered in the EU/EEA zone - 200 EUR;

- for legal entities registered in other jurisdictions - 300 EUR.

 

For more details on the tariffs of the payment system, please follow the link.

Terms of opening the account

The procedure of opening the account consists of two stages: the preliminary stage and final stage of opening an account.

 

The preliminary stage includes the process of collecting and filing your documents which are required for opening an account. The terms of preliminary stage depends wholly on you.

 

The account is opened within 10-15 working days from the date of submission of all necessary documents in the payment system.

 

Paystree follows KYC policy and reserves the right to require additional documents what may lead to account opening term exceeding, as well as refusing of account opening without reasons explanation.

Staff

Working languages: Russian, English.

Credit/debit cards

It is planned to release card Mastercard.

Documents for opening an account

Documents for the company. Originals of all statutory documents under apostille are required (Certificate of the company incorporation, Articles of association,  resolution of the appointment of a director). In addition, it will be needed:

- Extract from the Register or Certificate of Incumbency, indicating all data about the company not older than 3 months;

- Declaration of Trust (if the beneficiary is not a shareholder of the company) or apostilled power of attorney;

- copies of passports (internal passport and foreign passport) of all directors and shareholders who own more than 25% of shares;

- original utility bill (for gas, electricity) not older than 3 months (to confirm the address of residence) for each director and shareholder who own more than 25% of shares.

 

Documents for the account holder:

- copy of national passport;

- copy of foreign passport;

- a selfie photo with a passport;

- original of utility bill (for gas, electricity) from the place of residence no older than 3 months (to prove the place of residence).

Documents for the beneficiary:

- copy of national passport;

- copy of foreign passport;

- original of utility bill (for gas, electricity) from the place of residence no older than 3 months (to prove the place of residence);

- curriculum vitae;

- documents confirming the source of income (wealth) of the beneficiary.It can be:

a certificate from the place of work indicating salary and statement of personal account, where payroll is displayed;

tax returns;

documents confirming inheritance;

documents confirming money donation, as well as their availability on accounts;

documents confirming the  presence/sale of real estate/movable property;

if the beneficiary is the founder of the company - documents for the company, extracts from company accounts, tax returns, documents confirming the payment of dividends;

if the beneficiary is a private entrepreneur - extract from the register, tax returns on the entrepreneur, bank statements;

Certificate of deposit from the bank, as well as documents confirming the source of income;

other documents that show sources of income.

The procedure of opening an account

You need to visit our office to fill out a questionnaire, as well as certification of documents for the company, attorney and beneficiary. Next, all documents are sent to the payment system for review and opening an account. No personal visit required.

Site

paystree.com

 

For further consultation concerning the terms of account opening in Paystree LTD (England) please contact our office. We will respond to any questions you may have and will help you open an account in English payment system Paystree or any other bank out of 70 foreign banks you may choose from.