Welcome to Lunar!
Here you can read about:
Which documents and information you may be asked to provide when opening a business account with Lunar
Why do we need these documents and information
What do we ask for?
When you apply for a business account with Lunar, you may be asked to submit various documents. These may include:
Budget
Partnership agreements
Business plan
Origin of start-up capital
Company's tax domicile
Contracts of employees
Also, we may ask a series of questions about your company. These may include questions such as:
How many employees does your company have besides you?
What payment options do you offer your customers?
On which platforms is your company present online?
From which address does your company's daily operations take place?
Who are your customers?
Which companies do you collaborate with?
What is your expected turnover in the next 12 months?
Has your company previously had another bank?
Do you have other sources of income?
All the information you provide will, of course, be treated confidentially! 🤐
Why do we ask?
When you open a business account with Lunar, we may ask you for a lot of different documentation and a range of questions 👆
Why we do this may not always be entirely transparent. We understand that!
Allow us to explain...
In short, we need to prove that our customers run healthy and legal businesses. Because Lunar is a bank, we are subject to several so-called "Know Your Customer" (KYC) rules. This means we need documentation to ensure that your company (and you) are genuine. Additionally, as a bank, we are also obligated to comply with applicable regulations, such as the EU's Fifth Anti-Money Laundering Directive and the Danish Anti-Money Laundering and Counter-Terrorist Financing Act. This means, among other things, that we are required to understand how our users conduct their business.
We take this responsibility very seriously! Therefore, we hope you can bear with us when you suddenly have to upload a sea of PDFs and answer in-depth questions - we're just trying to protect all of us and make life a bit harder for the bad guys.
Good to know
All applications are processed individually, so the requirements may vary in terms of what we need from you and other applicants.
If we were to say no to your company, it could be because we are unable to meet your company's needs or because we do not understand the business model. You can read more about why we sometimes have to decline applications here.