Why does ClubCollect require certain documents before paying out amounts?

Why does ClubCollect require certain documents before paying out amounts?

As a financial institution, we are required to comply with anti-money laundering regulations. This means we must collect certain documents before we are allowed to make payouts to our customers.

How do I upload the necessary documents?

You can upload the required documents in your ClubCollect environment by navigating to **Settings > Necessary Documents**.

What happens after I upload the documents?

Once your documents are uploaded, we will verify and validate them. After the process is complete, a green "OK" will appear next to the document that has been reviewed.

When should I upload these documents?

The necessary documents can be uploaded at any time. However, they must be verified and validated before we can transfer any funds to your bank account. These documents are required for payouts, as the funds are held in our escrow account.

Do I need to upload documents before sending invoices?

No, it is not necessary to upload these documents before sending out your first set of invoices. For invoicing, the only requirement is to upload your logo, which must also be verified and validated by our system. Your logo will be visible on all communications sent to your members.