After you log into your account in Dagpay, on your Dashboard select the third step Verify your business.

Depending on your Dagpay account type, there will be different business verification requirements, each having different approved monthly processing volume limits for accepting dagcoin payments. This article describes the business verification requirements for the Company (legal entity) account type:

Company (legal entity)

  • Tier 1 - can accept up to 1 000 EUR worth of dagcoin payments in total per calendar month;

  • Tier 2 - can accept up to 10 000 EUR worth of dagcoin payments in total per calendar month;

  • Tier 3 - can accept unlimited payments;

Note that the limit values used are based in EUR currency due to regulatory reasons, but can be respectively displayed also in your preferred local currency when using Dagpay.

Getting verified for Tier 1 (payments up to 1 000 EUR / month)

There are at minimum two steps required to get verified for Tier 1 business verification.

Enter your business details

In the first step, you will have to provide information about your business. Make sure that you fill in all the required fields.

Keep in mind to enter the legal name of business as written in an official registration document and please note that the business registration date is the date on which you registered your company in your country (not in Dagpay).

In addition to the above mentioned fields, you will need to provide either your business operating address details (if you have a brick-and-mortar type business) or website (if you have an online business).

Submit proof of business

After filling out the requested information in the previous step, you will need to submit a copy of a government issued business registration document as business proof. This can be either:

  • officially issued business license or registration;

  • officially registered Articles of Incorporation;

Note that this document should include your name as a business owner, your business license, the date that your business was created, and all the legal information related to your business.

Getting verified for Tier 2 (payments up to 10 000 EUR / month)

In order to get verified for Tier 2, you will need to submit a copy of a document proving your business address. We can accept documents such as utility bills, electricity bills, water bills, tax invoices, bank statements, etc. Please note that the document should not be older than 3 months.

However, in case your business registration document includes the address of your company, then you do not have to upload an address proof document.

Optionally you may also skip this step and continue using Dagpay with Tier 1 approved processing limit and apply for a higher tier later.

Getting verified for Tier 3 (unlimited payments)

Before you can get verified for Tier 3, you will first need to complete Tier 1 and Tier 2 verifications in the previous steps and both verifications need to be approved.

You can apply for Tier 3 verification by clicking on Raise limit in your Dagpay dashboard, next to the limit bar indicating your volume of processed payments.

You will then be navigated to another view where you can upgrade your approved volume by completing additional verifications. If you haven't yet completed Tier 2 verification or skipped it during the initial account setup, you can do that from here too. Otherwise, select the option Provide additional proof of business ownership to apply for Tier 3.

In order to get verified for Tier 3, you will need to submit additional copies of the following official documents:

  • Share certificate including Ultimate Beneficial Owner;

  • Official list of all board directors;

Once you complete everything you can simply click on the Submit button to send your application. Our support team will review your application and you will hear more from us after 1-2 business days.

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