The fine print
As Holvi® is founded and based in Helsinki, Finland, Holvi Payment Services Ltd is supervised by the Financial Supervisory Authority of Finland (FIN-FSA), which gives us a license to operate in the European Economic Area.
As a payment institution, we are obliged to know our customers and to understand their business structures and payment behaviours. Before you start using Holvi, you will be asked to go through our verification process. This process is executed securely and all information or documentation given to us is treated in confidence and in compliance with the Finnish guidelines on banking secrecy.
Occasionally, we might need to ask you for some additional information for securing your personal information and assets – these situations vary from case to case but are always executed with your safety as our highest priority. Holvi will never give your data to any third parties without your consent or without a legal obligation to do so.
You can find more information here.
Please also read further about security at Holvi here.
Before you can start using your Holvi account and its features, you will need to verify both your identity and your business.
Your personal verification will be completed through a video chat with IDnow. To do this, you need a computer with a webcam or a smartphone which can install the IDnow app, as well as your ID and mobile phone.
Please note: you do not need to book a time with IDnow – just have your phone with a proper camera and ID at hand. You will be directed along the way, but it is good to note that you should be in a space with good lightning and internet coverage. Also, as you will get directions along the way, it is good if you can do the identification in a somewhat quiet space.
To check your verification status or to start the verification, simply go to your profile and click on "Identity Verification". If you see the text "Verification completed", then you are already done – congratulations!
Otherwise, please click on the IDnow button to receive your code for the video session, and then simply follow the instructions on the screen.
After the video chat, please wait until you are redirected to your account – do not close the window too early. You will then have to confirm that your address is correct to complete your identity verification.
IDnow supports a number of European national IDcards. If your IDcard is not supported by IDnow, unfortunately we will require a valid passport to complete identity verification.
In order to verify your business, you will have to submit the relevant information related to your company activities. As a regulated financial institution, we also need a copy of your your company’s registry extract. Please upload it when asked under your profile.
The registry extract is a document that you have received from your local chamber of commerce and it contains your company information.
We ask for the Power Of Attorney in case you do not solely have the right to sign for the company that you open the account for.
If you are not the sole manager of your company or association, you will in addition to the other documents, have to submit a signed representative authorisation. We only need this if there are several shareholders in your company or your association needs to be represented by several people, or if you are not the appointed manager of the company.
Representative = Holvi account's creator.
Normally all documents related to the company verification at Holvi will go through our compliance department. Our verification team will then review all information you have provided. If all documents are in order and we have all information required according to our verification standards, your account will be verified within max. 10 business days (excluding weekends & national holidays). In case we would still need any additional information from you, we will contact you via email.
Please note! When signing up, we ask you information about your business activities. All business activities related to the companies registered at Holvi are evaluated and must fit within our Acceptable Use Policy -– please find more info about our AUP here:https://support.holvi.com/hc/en-gb/articles/202256852-Acceptable-Use-Policy.
For safety reasons we kindly ask you to upload all documents under your Holvi profile: https://holvi.com/home/identity/company-documents/
Please, note these requirements before setting up your Holvi profile:
Holvi in Belgium
As a Holvi user in Belgium, you must be resident in Belgium, be registered in the Belgian population registry, have a local SSN and go through the personal verification with IDNow.
Holvi currently supports the following company forms in Belgium:
- Sole trader registered in the Belgian “Crossroads Bank for Enterprises” (CBE)
- Single person private limited company, (SPRLU/EBVBA) registered in the Belgian “Crossroads Bank for Enterprises” (CBE)
- Private limited company, SPRL/BVBA) registered in the Belgian “Crossroads Bank for Enterprises” (CBE)
- A “société privée à responsabilité limitée” (in French) or “besloten vennootschap met beperkte aansprakelijkheid” (in Dutch) (private limited company, SPRL/BVBA) registered in the Belgian “Crossroads Bank for Enterprises” (CBE).
Holvi in France
As a Holvi user in France, you must be resident in France, be registered in the French population registry and have a local SSN and go through the personal verification with IDNow.
Holvi currently supports the following company forms in France:
- Sole trader (Entrepreneur individuel, EI) registered in the Registres du commerce et des sociétés (RCS).
- Sole trader (Entrepreneur individuel à responsabilité limitée, EIRL)
- Limited Company with single owner (Entreprise Unipersonnelle à Responsabilité Limitée, EURL)
- Limited company (Société à Responsabilité Limitée, SARL) registered in the Registres du commerce et des sociétés (RCS) where all shareholders are natural persons.
- Public Limited Company Simplified (Société par Actions Simplifiée, S.A.S.).
- Public Limited Company with single owner (Société par Actions Simplifiées Unipersonnelle, S.A.S.U.)
Holvi in Ireland
As a Holvi user in Ireland, you must be resident in Ireland, be registered in the Irish population registry and have a local SSN and go through the personal verification with IDNow.
Holvi currently supports the following company forms in Ireland:
- A sole trader registered with a DBA in the Companies Registration Office
- A private limited company, Ltd registered in the Companies Registration Office (CRO) where all shareholders are natural persons.
- Single Member Company, registered in the Companies Registration Office (CRO) where all shareholders are natural persons.
Holvi in Italy
As an Holvi user in Italy, you must be resident in Italy, be registered in the Italian population registry and have a local SSN and go through the personal verification with IDNow.
Holvi currently supports the following company forms in Italy:
- Imprenditore individuale (commerciale), registered in the chamber of commerce.
- Società a responsabilità limitata (S.r.l.) registered in the chamber of commerce and where all shareholders are natural persons.
Holvi in the Netherlands
As an Holvi user in the Netherlands, you must be resident in the Netherlands, be registered in the Dutch population registry, have a local SSN and go through the personal verification with IDNow.
Holvi currently supports the following company forms in the Netherlands:
- Eenmanszaak, registered in the KvK.
- Besloten vennootschap (BV), registered in the KvK.