Business Account FAQs

Documents required to apply for a Chipper Business Account

Christine avatar
Written by Christine
Updated over a week ago

[Nigeria] Business Account Documents

Frequently Asked Questions

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?

N10 million daily, which consists of all the P2P, cash out, bill payment, and airtime transactions. The card transaction limit does not increase.

What are the documents required to apply 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

Frequently Asked Questions

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.

What are the documents required to apply 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



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