Stripe

Why do eCarUp station owners need to verify accounts?

eCarUp AG is never itself in possession of the funds transferred via our platform; these belong either to the credit card holder (driver) or then directly to the station owner. This means that eCarUp is not a financial intermediary and does not manage any third-party assets.  The legislators in Switzerland and in Europe require for such transactions (also in the magnitude as they are processed via eCarUp) that the economic entitlement of the credit balances is clarified. The credit transferred to the accounts of the station owners thus legally belongs to the verified entity (legal or natural) and this entity is responsible for correct handling and accounting as well as for protection against misuse thereof.

You can find more information on how the credit card billing with eCarUp works here.

All financial transactions are processed through our payment service provider Stripe. Stripe is a certified and established online payment service with a global presence. So when you pay by credit card at eCarUp, the standard processes regarding validation, data transmission security and data protection take place in the background. In addition, the transactions are compliant with money laundering and banking laws throughout Europe. Find out more about security at Stripe here: Data security and data protection at Stripe.

NOTES: 

• We only collect the mandatory (minimum) information required by law. Of course, this information is treated as strictly confidential and is not used in any other way or passed on to third parties.

• The legal provisions regarding money laundering and transparency may change and thus also require an adjustment on the eCarUp platform.

Verification of your account

Consequently, as an eCarUp station owner, you must verify your account. This can be done either as a natural or legal person (see examples below).

The process is as follows:

1. Log in to the eCarUp web portal with your station owner account.

2. Navigate to "Account and payment" in the menu and click on "Verify account".

3. The web portal will now guide you through a questionnaire where all relevant information will be requested.

4. If your account has been successfully verified, you will now see the message "Charging and payout possible".

5. If your account is missing important information, you will receive a corresponding message in the CarUp Dashboard and in the "Account and payout" tab.

NOTES:

•  These measures are primarily for the security of financial transactions on the eCarUp platform.

• After successful verification, it may take up to twenty minutes for the data to be matched and for the warnings described below (yellow or red bar) to disappear.

Example for a natural entity

(e.g. if I share my station as a private person with neighbours or as a representative of a residential property community)

The following information is required as a minimum for a natural person:

1.  First name, surname

2.  Address and country

3.  Date of birth

Example for a legal entiety

(e.g. if I make my station available to my employees as a company or if I act as an administrator for the benefit of a residential property community)

The following information is required as a minimum for a legal entity:

1.  Company name, address and country

2.  Tax number

3.  Depending on the transaction volume, a company entry (e.g. annual financial statements or entry in the commercial register)

For at least one representative (owner with more than 25% shares, board of directors, significant responsibility for the company)

4.  First name, surname

5.  Private address

6.  Date of birth

7.  Depending on the transaction volume,  an identification document (e.g. identity card)

8.  Depending on the transaction volume,  a document verifying the private address (e.g. electricity bill)

The following documents must be present for successful verification

(one document is sufficient at a time)

Extension of the Know Your Customer Principle (Fifth EU Money Laundering Directive)

As part of the fight against terrorist financing, the EU is tightening transparency in financial transactions in 2020 with the implementation of the Fifth Money Laundering Directive. As a result, eCarUp station owners must clarify the identity of the account owner (private or legal person) at all times and verify it by entering identification information.  Further information on the policy can be found here.