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Business Account Documents & FAQs

Documents required to apply for a Chipper Business Account

Christine avatar
Written by Christine
Updated over 8 months ago

[Nigeria] Business Account Documents

Click here to see all frequently asked questions on business account 👈

What is the transaction limit for business accounts?

₦10 million - ₦100 million daily, which consists of all the P2P, cash out, bill payment, and airtime transactions. The card transaction limit does not increase.

How does it work?

You can apply via this web link - https://business.chippercash.com/. Please ensure all the details are correctly inputted and complete your submission. Then please wait to receive a notification of approval via your registered email before you go ahead and onboard the Chipper app.

What happens if my business application is approved?

You will receive a notification via your registered email address.

How do I know if my business account application is rejected or approved?

A notification will be sent to you via your registered email address.

Conditions that must be met to be able to apply successfully

You must have a registered business in Nigeria with no prior or existing Chipper business account.

What is the acceptable proof of address?

Any of the following: Electricity bill, Water Bill, Waste bill, or Bank statement in the business name

Is there a charge for applying?

There is no charge for the application or account number generation

Will I be using the web version to operate the business account?

No, you would be using the app. The web application is only for getting to know your business and receiving the relevant documents.

My business account is not yet verified; can I complete the application in-app?

No

Will the account be in my business name?

Yes

Can I have two different accounts: one for an individual and the other for a business?

Yes

How long do I have to wait to get verified?

2-3 days

What is the transaction limit for the business type?

₦10 million - ₦100 million daily, which consists of all the P2P, cash out, bill payment, and airtime transactions. The card transaction limit does not increase.

See below for the required documents for applying for a Chipper Business Account

BUSINESS NAME/SOLE PROPRIETORSHIP

COMPANIES LIMITED BY SHARES

Legal Entity

  • Certificate of registration

  • Status report/ CACBN1 - Application for registration of business name

  • Certificate of incorporation

  • Status report or CAC 1.1 (CAC7 where there is a change in Director and CAC 2 when there is a change in share capital) and

  • Memorandum and Articles of Association

Nature and Purpose of the business relationship

  • TIN ( Tax Identification Number)

  • Evidence of filing annual returns if CAC profile is inactive, (or Tax Exemption Certificate where applicable)

  • TIN (Tax Identification Number)

  • Evidence of filing annual returns if CAC profile is inactive (or Tax Exemption Certificate, where applicable)

Application Signatory

The signatory must be a registered proprietor

Signed Board Resolution by at least two directors or 1 director + company secretary appointing the signatory to the account

Related parties

Means of Identification for the applicant

  • Means of ID for directors and their BVN

  • Means of ID for shareholders

  • Proof of address of Directors

Proof of Address

Proof of address for the principal place of business:

  • Deed of lease/tenancy agreement

  • Utility bill

  • Statement of Account

  • Regulatory license (where applicable)

Proof of address for the principal place of business

  • Deed of lease/tenancy agreement

  • Utility bill

  • Statement of Account

  • Regulatory license (where applicable)

[USA] Business Account Documents

Click here to see all frequently asked questions on business account 👈

How does it work?

You can apply via this web link - https://business.chippercash.com/. Please ensure all the details are correctly inputted and complete your submission. Then please wait to receive a notification of approval via your registered email before you go ahead and onboard on the Chipper app.

What happens if my business application is approved?

You will receive a notification via your registered email address.

How do I know if my business account application is rejected or approved?

A notification will be sent to you via your registered email address.

Conditions that must be met to be able to apply successfully

You must have a registered business in the USA with no prior or existing Chipper business account.

What is the acceptable proof of address?

Any of the following: Lease Agreements, Electricity bill, Water bill, Waste bill, or Bank statement in the business name

Is there a charge for applying?

There is no charge for the application or account number generation

Will I be using the web version to operate the business account?

No, you would be using the app. The web application is only for getting to know your business and receiving the relevant documents.

My business account is not yet verified; can I complete the application in-app?

No

Will the account be in my business name?

Yes

Can I have two different accounts: one for an individual and the other for a business?

Yes

How long do I have to wait to get verified?

2 to 3 business days

What is the transaction limit for the business type?

USD 6000 daily, which applies to transfers. Card transaction limits do not increase.

What do I do after I receive the application approval notification?

Please proceed to complete the process via the Chipper App by signing up with your registered email and following the prompt before you start operating your business account.

See below for the required documents for applying for a Chipper Business Account

DOCUMENTS REQUIRED

Sole Proprietorships

  • Assumed Name Certificate (also known as a Doing Business As - DBA)

  • Proof of Address for the business e.g. Utility bill

  • ID and SSN for each owner

** We would need to validate the owner's Social Security Number (SSN)

Partnerships

  • Certificate of Partnership

  • Proof of Address for the business, e.g. Utility bill

  • ID and SSN for each owner

Limited Liability Company (LLC)

  • Articles of Organization

  • Proof of Address for the business, e.g. Utility bill

  • ID and SSN for each owner

Corporations

  • Articles of Incorporation/Certificate of Incorporation

  • Proof of Address for the business, e.g. Utility bill

  • ID and SSN for each owner

Limited Liability Partnership (LLP)

  • Certificate of Registration/Articles of Organization

  • Proof of Address for the business, e.g. Utility bill

  • ID and SSN for each owner

Financial Document Verification

  • Financial documents, such as tax returns or financial statements

Address Verification

  • Utility bills, lease agreements, or other official

    documents

[Uganda] Business Account Documents

See below for the required documents for applying for a Chipper Business Account

BUSINESS NAME/SOLE PROPRIETORSHIP

COMPANIES LIMITED BY SHARES

Legal Entity

  • Certificate of registration

  • Trade License

  • Statement of Particulars

  • TIN certificate

  • Certificate of incorporation & or Charter/Constitution Document and Certificate from the Country of Origin duly Witnessed(where there is foreign participation)

  • Memorandum & Articles of Association

  • Trade license

  • Company Form 20 or Company Form 24(foreign companies)

  • TIN certificate

Nature and Purpose of the business relationship

  • Bank statement

  • TIN certificate

  • Bank statement

  • TIN certificate

Application Signatory

  • Signatory must be a registered proprietor

  • Certified Board resolution authorizing opening of wallet and appointing who has authority to operate the wallet

Related parties/Beneficial owners

  • National ID

  • Passport

  • Proof of address

  • Notice of Change in particulars(where applicable)

  • Beneficial ownership Form 1

  • Memorandum & Articles of Association

  • Company form 20 & or Form 24(foreign companies)

  • National ID

  • Passport

  • Proof of address

  • Beneficial ownership Form 1

Proof of Address

  • Utility bill

  • Deed of Lease/Tenancy Agreement

Principal place of business

  • Company Form 18

  • Deed of Lease/Tenancy Agreement

  • Utility bill

LIMITS

SME

Maximum Single Transaction

UGX 10,000,000

Maximum Daily Transfer

UGX 50,000,000

Maximum Daily Balance

UGX 50,000,000

Retail Agents

Maximum Single Transaction

UGX 20,000,000

Maximum Daily Transfer

UGX 100,000,000

Maximum Daily Balance

UGX 100,000,000

[Ghana] Business Account Documents

See below for the required documents for applying for a Chipper Business Account

BUSINESS NAME/SOLE PROPRIETORSHIP

COMPANIES LIMITED BY SHARES

Legal Entity

  • Certificate of business registration

  • Certified True Copy of Form A

  • Commencement Certificate (Pre Oct 2020)

  • Certificate of Incorporation (Post Oct 2020)

  • Copy of Form 4(Pre Oct 2020)

  • Registered Constitution of the Company

  • CTC of Form 3A

Industry licence & GIPC (where applicable)

Nature and Purpose of the business relationship

  • Bank statement

  • TIN certificate

  • Statement of Account/Evidence of filing Annual returns

  • TIN certificate

Application Signatory

  • Signatory must be a registered proprietor

  • Signatory must be appointed by the board and conferred the power to sign on all bank accounts and establish the relationship with Chipper

  • Board resolution evidencing the appointment of signatory(LTDs)

Related parties/Beneficial owners

  • National ID

  • Passport

  • Voter ID

  • Proof of address

  • Copy of Form A

  • National ID

  • Voter ID

  • Passport

  • CTC Form 4(Pre Oct 2020)

  • CTC Form 3A(Post Oct 2020)

  • Company constitution

  • Form 17 (where there is a change in Director)

  • Proof of address

Proof of Address

  • Utility bill*

  • Deed of Lease/Tenancy Agreement

Principal place of business

*Not older than 6 months - Electricity bill, Water bill, Waste bill, Cable TV bill.

  • Certificate of Incorporation

  • Copy of Form 4

  • Deed of Lease/Tenancy agreement/Utility bill*

*Not older than 6 months- Electricity bill, Water bill, Waste bil, Cable TV bill

Limits

  • No limits

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