Adding Business Owners to Your Wix Payments Account
3 min read
If you're accepting payments as a business entity (Corporation, General Partnership, Limited Liability Company), you must add the details of the relevant business owners to make sure your Wix Payments account complies with all legal requirements.
Who is a Business Owner?
- People holding 25% or more of the company's ownership.
- People who are significantly responsible for managing the company. This includes (but is not limited to) roles like the CEO, CFO, COO, President, Vice President, General Partner, Treasurer, Chairperson, etc.
Important:
- Wix Payments may require additional information and/or documents to verify your Business Owners' identity.
- You may, but are not required to add another manager if you've already added yourself.
Learn how to add a Business Owner:
Adding Business Owners in the Wix Payments Setup Process
- Go to Accept Payments in your site's dashboard.
- Click Complete Set-up under the relevant Wix Payments payment method.
- Click Complete Account Set-up.
- Select your business type: Corporation, General Partnership, Limited Liability Company.
- Enter the Business Owner details:
- Full name
- Date of birth
- Country of citizenship
- Personal address
- ID number or Social Security Number (SSN)
- Select the checkboxes:
- Does this person own 25% or more of the business:
- Yes: Select this option if this person is a shareholder owning 25% or more of the business.
- No: Select this option if this person owns less than 25% or doesn't own the business at all.
- Does this person have significant responsibility over company management:
- Yes: Select this option if this person holds a position with significant responsibility over company management (e.g. CEO, CFO, Treasurer, Chairperson, etc.)
- No: Select this option if this person's position doesn't involve significant responsibility over company management.
- Does this person own 25% or more of the business:
- Enter the person's Role in the Business using the text box.
- Click Save.
Adding Business Owners in Wix Payments Account Settings
- Go to Accept Payments in your site's dashboard.
- Click Wix Payments Dashboard below the relevant payment method.
- Click Account Settings on the left.
- Scroll down to Business Owners and click + Add Business Owner.
- Enter the Business Owner details:
- Full name
- Date of birth
- Country of citizenship
- Personal address
- ID number or Social Security Number (SSN)
- Select the checkboxes:
- Does this person own 25% or more of the business:
- Yes: Select this option if this person is a shareholder owning 25% or more of the company.
- No: Select this option if this person owns less than 25% or doesn't own the business at all.
- Does this person have control over company management:
- Yes: Select this option if this person holds a position with control over company management (e.g. CEO, CFO, Treasurer, Chairperson, etc.)
- No: Select this option if this person's position doesn't involve company management.
- Does this person own 25% or more of the business:
- Enter the person's Role in the Business using the text box.
- Click Save.
Tip:
Manage your Business Owners at any time through the Account Settings tab. Learn More
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