During enrolment to HubSpot Payments, HubSpot may occasionally need to request additional information or speak with you to complete the underwriting process before activating your account. Learn how to prepare for the underwriting process below.
Please note: HubSpot payments is a separate payments processor from Stripe payment processing. HubSpot payments is only available to companies based in the United States with a Starter, Professional, or Enterprise subscription, and allows the collection of payments in USD, while Stripe payment processing is available internationally for all subscriptions, and supports additional currencies. If you have an existing Stripe account, learn how to connect it as a payment processing option rather than using HubSpot payments.
What is underwriting?
As a payment service provider, HubSpot is responsible for the financial risk involved in processing your transactions. We need to verify your products or services, where your business operates, your financial stability, and any potential credit risks. Underwriting is how payment providers confirm that businesses meet compliance, risk, and legal standards, ensuring a secure payment ecosystem for everyone involved.
How does HubSpot’s underwriting process work?
The underwriting process works as follows:
- Application submission: you’ll provide information about your business, including legal details, and any relevant financial documentation.
- KYC verification: “Know Your Customer” (KYC) checks confirm your identity and business legitimacy. This step ensures you meet the necessary legal and regulatory requirements before accepting payments.
- Credit risk assessment: we assess your credit health and payment history to determine if you can manage potential refunds, chargebacks, or other liabilities.
- Information review: our team evaluates all of the above details to confirm your business aligns with our compliance and risk guidelines, before we approve your account for payment processing.
Occasionally, we can’t make a determination based on the initial details provided and will need more information to proceed.
If further documentation is required:
- You'll also see an in-app notification under Commerce > Overview in your HubSpot account.
- Click Complete verification to open the secure uploader, attach the requested files, then click Submit.
The underwriting team will review the documents and continue with the underwriting process.
What types of documents may be requested?
Below are common documents we may request, along with why we need them:
| Document |
Purpose |
| Balance sheets |
Shows assets, liabilities, and equity. Used to verify your business’s financial health. |
| Profit & loss statements |
Summarizes revenue, costs, and expenses, Helps us evaluate your financial status. |
| Bank statements |
Shows monthly debits and credits. Used to confirm your business’s financial stability. |
| Previous payment processor statements |
Details transactions, fees, and other account activity. Helps us understand your historical processing and potential risks. |
| Statement of cash flow |
Shows all cash inflows from operations and investments. Used to verify your business’s liquidity. |
| Utility bill |
Helps confirm your physical business location. |
| Lease agreement |
Verifies your location and right to operate there. |
| Government-issued ID (e.g., driver’s license, passport, state ID, Social Security card) |
Verifies your personal identity. |
| Business tax ID (SS4) |
EIN or SS-4 confirmation letter verifies the legitimacy of your tax identification number. |
| Business tax returns |
Shows income, losses, and taxes paid. Used to confirm your business’s financial position. |
| Articles of incorporation |
Explains your business structure. Issued by your local government or lawyer. |
| Reseller agreement |
Verifies that you’re authorized to resell products. |
| Contracts, invoices, and terms |
Demonstrates your billing practices. Examples include paid invoices or publicly available terms of service. |
| Marketing materials |
Illustrate how you promote and sell your products or services (e.g., website, pamphlet, social media posts). |
| Banking verification |
May include a voided check or bank letter confirming your business’s bank account details. |
The underwriting team will review your documents as soon as they’re received, and will continue to work with you through the rest of the process.
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