Zettle by PayPal services are provided under PayPal UK Ltd’s authorisation issued by the Financial Conduct Authority (FCA) as an electronic money institution under the Electronic Money Regulations 2011 for the issuance of electronic money (firm reference number 994790), in relation to its regulated consumer credit activities under the Financial Services and Markets Act 2000 (firm reference number 996405) and for the provision of Cryptocurrency services under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (firm reference number 1000741).
Some of PayPal UK Ltd’s products including PayPal Pay in 3 and PayPal Working Capital are not regulated by the FCA. PayPal UK Ltd's company number is 14741686. Its registered office is 5 Fleet Place, London EC4M 7RD.
For regulatory reasons, we need to confirm our customer's personal and business information.
Why we need to know our customers?
When you register your Zettle account, we’ll ask you a number of questions, and we’ll continue to do so every now and then as time goes by. Sometimes we do this in the Zettle application, sometimes on my.zettle.com, and occasionally by email or by phone.
We take your safety very seriously, and these questions help us to protect you.
We also use them to filter out any Zettle account holders who are attempting to engage in dishonest or illegal practices. That’s why we need to ask everyone these questions, without exception. When you answer our questions, you help us protect your identity and prevent criminal activity.
What kind of questions do we ask?
Here are some examples of the information we need:
- What are you using our services for?
- What is the ownership structure of your company?
Identification and verification
We might also ask for proof of business and check that you have the right to represent the company. Other documents we may ask for are those that can confirm your address, your identity, or the identity of other stakeholders in your business. For more info, see Confirm your Identity.
Regulations
As of the 1st of November 2023, we provide the Zettle service through PayPal UK Ltd ( which is authorised and regulated by the Financial Conduct Authority (FCA) as an electronic money institution under the Electronic Money Regulations 2011 for the issuance of electronic money (firm reference number 994790), in relation to its regulated consumer credit activities under the Financial Services and Markets Act 2000 (firm reference number 996405) and for the provision of Cryptocurrency services under the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (firm reference number 1000741). Some of PayPal UK Ltd’s products including PayPal Pay in 3 and PayPal Working Capital are not regulated by the FCA. PayPal UK Ltd's company number is 14741686. Its registered office is 5 Fleet Place, London EC4M 7RD.
We are required by law to have knowledge about our customers and how our services are being used throughout our business relationship. We are actively working to protect our merchants, the company, and society by preventing criminal activities such as money laundering, terrorist financing, etc., and we will continue to do so.
As a financial institution, we are required to collect additional information about our customers to comply with our Client Due Diligence obligations under the UK Money Laundering Regulations. Simply put, we ask you personal questions because it is a regulatory requirement and part of our social responsibility to counteract criminal activities.
Frequently asked questions
I have been a customer for several years. Why do I need to answer these questions or send more documents now?
All financial institutions, such as banks, payment providers, etc., must have updated information about their users throughout their relationship to ensure compliance with measures against money laundering and terrorism financing. This information may vary by country. We ask these questions to all our newly registered users and existing customers on an annual basis for re-verification purposes.
Why has my account been paused?
If we have not received the documents we requested or answers to the questions we have asked, we will sometimes temporarily pause customers’ accounts and/or stop deposits. This is because, according to our regulatory requirements, we are not allowed to provide our services to a user if we don’t know who they are or what they’re using our services for. When we have received sufficient answers or the documents that we have requested, we will reactivate your account.
Good to know:
If your account has been paused, please check the email address linked to your Zettle account to find further instructions.
I feel that some of these topics infringe on my privacy. Are you really allowed to ask them?
In order to safeguard the trust we have as a financial institution, we are obliged by global regulations to ask these questions. The authorities demand that we collect this information about our customers. When you answer the questions, you help us behave responsibly and prevent criminal activity.
Please read more about how we process your personal data in our Privacy Policy.
Can I answer these questions later or provide the documents later?
Yes, you can provide the requested information at a time suitable for you. But since we are legally required to obtain this information, we will have to place restrictions on your account until we have received the requested information.
Do I have to answer these questions/do I have to give you these documents?
Yes, all customers must answer the questions. It is our duty as a financial institution and as a responsible social actor to ask these questions to all our customers. All banks and other financial institutions are, according to regulations on measures against money laundering, obliged to have good knowledge of their customers' identity and nature of business.
You have already asked me similar questions/requested similar documents recently, why are you asking these questions/requesting these documents again?
We need to ask you security questions regularly, as authorities require banks and other financial institutions to update their customer information. Our main purpose is to safeguard your financial interests and protect you from criminal activity such as identity theft, fraud, and so-called phishing (information fishing). At the same time, according to regulations on measures against money laundering, we are obliged to have good knowledge of our customers. We ask these questions to all our customers, both new and existing, no matter how long they have been customers with us. If you have recently responded to similar questions, we apologize, but we are required to gather your answers. If you know all the answers, it should not take more than a few minutes.
Do all financial institutions ask these questions?
Yes, all banks and other financial institutions are obliged to have good knowledge of their customers, according to, among other things, regulations on measures against money laundering. Therefore, the authorities demand that all banks and other financial institutions ask their customers these questions.
What do you use this information/these documents for?
We use the information to get to know and understand our customers to be able to safeguard their financial interests and discover any criminal activity. We do this to protect you as a customer and society as a whole. All banks and other financial institutions are, according to regulations on measures against money laundering, obliged to have good knowledge of their customers. The information we ask for is mandatory for us as a credit institution to obtain and is used to update our customer systems to achieve the requirements of good customer knowledge. It also facilitates our work on following up controls against sanction lists, i.e., lists of persons and companies subject to sanctions.
What happens if I don’t answer these questions/do not provide you with the requested documents?
If you do not answer all the questions, it may ultimately mean that we will not be able to offer you all our services or provide you with the support you need.
Who can see my answers/documents?
The information you provide to us is strictly confidential in accordance with the rules of financial secrecy. We also follow the Personal Data Protection Act.
What can I upload as a Letter of Authorisation?
You can give authorisation to someone to act on behalf of your company in handling all matters related to your Zettle account. Once you’ve notified us of your desire to do this, we’ll send you an Letter of Authorisation template via email. You can also download our Letter of Authorisation template from here.
I made some mistakes that I would like to correct. How do I do that?
Please contact our support team via phone or via connected to your Zettle account (main) email.
Who is the ultimate beneficial owner?
This is an individual who holds 25% or more ownership or controlling interest in the company.
Who is the alternative beneficial owner?
This could be a chairman, a CEO, a treasurer, a senior official, or any natural person who has direct or indirect ownership in the company – a person of significant control.
What if there is no owner at your company, or none of the owners have more than a 25% share or controlling interest?
In case the company doesn’t have an ultimate beneficial owner, you need to name the alternative beneficial owner – a person or persons with significant control. We’re obliged to collect information about the company’s beneficial owner(s) and person or persons with significant control.