Identifying and verifying property owners for Booking Holdings Financial Services

Updated 3 weeks ago | 5 min read time
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In order to safely process payments with Booking Holdings Financial Services (BHFS), BHFS is required to collect information to identify and verify the individual(s) and business entities involved with  property. The three-step identification and verification process – also known as the BHFS ‘Know Your Partner’ (KYP) form – allows BHFS to make sure that everyone is who they claim to be.


What’s in this article


Where to find the BHFS KYP form

Once BHFS payment services are available to you, we’ll send the BHFS KYP form via email to the email address you have registered on our platform. The form will also be available via banners in the extranet.


What information is required to verify the owners’ identity

The KYP form asks for all the information required to verify the party that's in contract with Booking.com. It involves a three-step process where we gather information regarding ownership,  identity and address, and (if applicable) bank details. All licensed and regulated payment service providers operate a similar process.

1. Information about the party that's in contract with Booking.com

First, we'll determine whether you're listing properties as an individual or a business entity. For individual-type partners, we’ll ask for:

  • Full Legal name
  • Date of birth
  • Country of birth
  • Country of citizenship
  • Nationality
  • Primary residence address

For business-type partners, you need to provide us with:

  • The company's registration information and tax identification number
  • Information about the ultimate beneficial owners, directors and property owners associated with the business.
  • If requested, documentary evidence to support this information

2. Identity and primary residence address

We need to be able to verify the individuals who own and control the business. To do this, some of these individuals need to verify themselves through our KYP form by submitting the following:

  • A valid government-issued identity document such as a driver's license or passport
  • A selfie

We also need to be able to validate the individual's primary residence address. For this, we'll ask for one of the following documents: 

  • A bank statement
  • A credit card statement
  • A recent utility bill

You can upload these documents from your computer or use your phone to take a picture. When uploading documents via your computer, you can drag and drop files into the designated area to upload them. Make sure the primary address document you upload is dated within six months. If it’s older than six months, we won’t be able to accept it.

3. Bank details

Finally, when bank transfer is the desired pay out method, we’ll ask you to review the bank details to ensure everything is correct and up-to-date. This enables us to match them with the individual or business entity that we're paying out to. We’ll display the current bank details we have for you – if something is incorrect or missing, you can provide us with the accurate information in this step.

Before submitting the KYP form, we’ll show you a summary of the information you provided. Carefully review everything and make sure that the information entered into the form matches the uploaded documents.


After submitting the KYP form

After submitting the KYP form, we’ll review and verify this information. We’ll send you a notification via email informing you that the KYP process is complete. At a later stage, we'll also let you know when BHFS will start processing the payments. That will be the BHFS activation date. If we need further information to complete the identification and verification process, we’ll contact you.


What happens if you don’t complete the KYP form?

While there will be no immediate impact on the services you enjoy on our platform and your payment services will continue in the short term, this may change as we scale our payment services through BHFS. 

We recommend that you complete the ‘Know Your Partner’ (KYP) form within 90 days to avoid any interruption to your payments services. After this period our platform services will remain available to you, but we may discontinue our payments services. 


How we handle your information

We’re committed to keeping our customers and their business safe. That’s why we employ an array of people, tools and processes to ensure that personal information is always used securely and in compliance with any applicable privacy requirements. 

 

Read more about how BHFS handles personal information in the BHFS Privacy Statement.

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