What is the Agicap Payment Account?
The Agicap payment account allows you to pay your suppliers directly from Agicap. Implemented in partnership with Swan, it provides seamless integration for managing supplier payments within the SEPA zone for EUR transfers. 💶
Before You Begin
The payment account works inside the SEPA zone 🇪🇺 for EUR SEPA transfers.
You need to transfer funds from your own bank to your Agicap payment account to pay suppliers.
Payment account owners can only have a French 🇫🇷 or German 🇩🇪 IBAN.
No overdrafts, cash deposits, or cash withdrawals are possible on this account.
Steps to Create Your Payment Account
Follow these three steps to create and activate your Agicap payment account:
Step 1: Provide Your Company Details
Activate the Payment Module:
Navigate to Accounts Payable in Agicap.
Under Payment, select Pay with payment account.
Acknowledge the Terms:
Read and acknowledge the terms and conditions.
Click on Create your payment account.
Fill in the Initial Form:
You'll be redirected to a form hosted by Swan.
Provide required information:
Company location.
Your role (select if you are not the legal representative if applicable).
Organization type.
Complete the Registration Process:
Enter your email address (used for Swan communications).
Fill in Organization information (ensure it matches official company declarations).
Ownership information:
Declare any Ultimate Beneficial Owners (UBOs).
Ensure information aligns with official declarations.
Upload Necessary Documents (if required):
If you're not the legal representative, upload:
Power of attorney.
A copy of the legal representative's ID.
Step 2: Confirm Your Identity
Provide Your Phone Number:
Enter your phone number to receive a verification SMS.
The phone number should belong to the person completing the account opening.
Create a PIN:
Click the link in the SMS and create a PIN (this will be used for future verifications).
Complete Identity Verification:
Verify your identity by following the on-screen instructions.
Use an original ID (passport or ID card).
It's recommended to complete this step immediately.
Step 3: KYB/KYC Verification
Await Account Approval:
Swan will manually review your information for compliance.
This process may take up to two business days.
Provide Additional Information if Requested:
Swan may contact you via the email provided if additional documents are needed.
Monitor your email for any communications from Swan.
Understand KYB/KYC:
Know Your Business (KYB) involves verifying company information.
Know Your Customer (KYC) involves verifying individual identities.
💡 Tips
Ensure all information and documents provided match your official company records to avoid delays.
Use an original, valid ID for identity verification to prevent rejections.
Check your email regularly during the verification process for any requests from Swan.
Q&A ❓
What if I am not the legal representative of my company?
You can still create the payment account, but you'll need to:
Indicate that you're not the legal representative during the initial setup.
Provide a power of attorney signed by the legal representative.
Upload a copy of the legal representative's ID.
How long does the account approval take?
The account approval process may take up to two business days after completing all steps. Swan may contact you if they need additional information.
What if I didn't complete the identity verification immediately?
If you didn't complete identity verification during Step 2:
In Agicap, navigate back to the Payment feature.
Click on Step 2 - Confirm your identity by SMS.
Follow the instructions to verify your identity.