The Brief Guide to Proof of Account Ownership

A bank account ownership certificate proves that your bank account belongs to you. It is also known as a proof of account ownership or bank account certificate.?

This document includes:

• Full name
• Birthdate
• Account number (IBAN)
• Date of account opening

When Do You Need Proof of Account Ownership?

There are many instances you might need proof of account ownership.?

If you are a person who wants to buy a house, for example. You apply for a mortgage. The mortgage lender requests various documents to ensure you have the financial stability to make regular payments. One of these documents is a proof of account ownership. This certificate from your bank confirms that you indeed own the bank account where your salary is deposited and from which your mortgage payments will be deducted.

If you are a merchant and looking to set up a new online store or update bank information for an existing project, you need to provide proof of account ownership. This document is necessary for the payment processor to start sending payments to the new account.

Overall, there are many more cases when proof of account ownership is needed. To have a broader picture, please visit this article.?

How To Get Proof of Account Ownership?

To get the document with PayDo, you need to follow several steps.

First, set up a Personal or Business account and pass the verification.

Second, apply for an IBAN.

Third, after you receive an IBAN, go to the Account Details section in the PayDo dashboard.

Fourth, select the IBAN and click Download PDF.

That’s it. In those four simple steps you can have your proof of account ownership.

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