Identity verification FAQ
Why is identity verification required?
Identity verification is an important and legally required step toward reducing risk and preventing money laundering and abuse of the financial system. You can read more about the laws governing our identity verification process by clicking here. These laws require us and our payment provider to collect and verify information of all our card payment account holders - click here for more details on how our payment provider complies with Know Your Customer regulations.
What is the verification process?
- Arbor collects the required information from your school and provides it to our payment provider.
- Our payment provider then verifies the information. If verification fails, the submission is manually reviewed. Then the account is manually verified, or rejected if the information cannot be verified.
Why do you ask for the school controllers/owners and representative’s details (name, address etc.)?
The regulations in Great Britain require us to collect and maintain this information. This is then submitted to our payment provider to verify its authenticity.
These requirements promote transparency and prevent individuals from using complex company structures to hide terrorist financing, money laundering, tax evasion, and other financial crimes.
The information you provide will not be used for any other purposes than identity verification.
Do I have to provide a photo ID?
You must provide photographic identification such as a Passport or Driver's License to verify that you are who you say you are.
We are bound by Governmental guidelines to take due diligence in preventing money laundering and fraud. This includes checking who our customers are by asking them to provide their name, date of birth and photograph on an official document which confirms their identity.
Because of this, you must provide a photo ID during the card payments setup process to be able to complete the process and use card payments in Arbor.
Is my data safe with Stripe?
Arbor uses Stripe as a payment provider and creates a Stripe Connected Account for your school when you start using the card payments functionality.
Providing additional details
Card payments are already set up, why do I have to provide the school controllers'/owners' ID?
If your school has processed a large number of payments totalling a large sum of money, you will be asked to provide additional Photographic ID for your controller/owner, in addition to the Representative ID you provided during setup. This is to comply with Governmental regulations that help ensure that these transactions were genuine to protect against money laundering.
When this Identity Verification is required, users with the Finance: Administer permission will see a banner on their Homepage.
When you click the 'Go to card payments setup' button, you will be taken to the Initial Setup page where you will be able to submit Photo ID for the controller/owner.
If the photo ID is not provided when requested, the card payment account for a school will be marked as unverified. This will shortly result in the school being unable to process card payments until a photo id for a school controller/owner is provided.
If you were no longer able to process card payments due to missing controller ID, just submit the photo ID and the card payments functionality will become available again.