How to prepare for merchant underwriting

The difference between a two-week approval and a two-month one is usually preparation. Here is what to have ready before any application goes out.

Company documents

• Certificate of incorporation and articles
• Register of shareholders showing ultimate beneficial owners (25%+ typically; some acquirers 10%+)
• Passport or ID and proof of address for each director and UBO
• Proof of registered office
• Any licences relevant to your category

Financial documents

• 3–6 months of business bank statements
• 3–6 months of processing statements from your current or previous provider, showing volume, refunds and chargebacks
• Latest financial statements or management accounts

Your website

Underwriters will review it in detail. Make sure it has:

• Clear product descriptions and pricing in the currency you will process
• Terms and conditions, privacy policy, refund and cancellation policy, and delivery policy
• Company legal name, registered address and a working contact email or phone
• For subscriptions: clear disclosure of billing frequency and how to cancel
• Working checkout (a test mode is fine)

The business summary

One page. What you sell, who buys it, how it is delivered, how you acquire customers, where your customers are, expected volume and average ticket, and why you are applying (new business, second acquirer, moving from an aggregator). This answers most underwriter questions before they are asked.

Explain anything unusual

Previous account closures, a chargeback spike, a company structure across several countries: explain proactively. Underwriters penalise surprises far more than they penalise problems that come with a credible explanation.

KLAUDE gives every applicant a tailored version of this checklist after the initial review, so applications go to acquirers complete.