How does the Swan verification work for Limited Partnerships (KG)?

🧭 Who needs to complete the process?

The verification must be carried out by an authorized representative of your KG (e.g., a personally liable partner / komplementär).

• Special Case: If another person sets up the account in the portal, you will strictly need a power of attorney (Vollmacht) and a valid ID document of the authorized representative.

🛠 Step-by-step guide: Starting the verification

Please set aside about 10–15 minutes to fill out the form. It helps to have the most important documents ready beforehand.

1. Log into the portal at app.become1.de.
2. Click on Switch role at the bottom left to open the admin view.
3. In the left menu, navigate to the become.1 Card section.
4. Select your company and click on Set up payment account.
5. Start the process by clicking the Start button.
6. Enter all requested information step-by-step into the Swan form.

📋 Which documents are required?

1. Automated retrieval by Swan

The following documents are usually pulled directly from official registries by Swan. You only need to provide them if they cannot be retrieved automatically:

• Commercial register extract (Handelsregisterauszug) or proof of registration
• Ultimate Beneficial Owner (UBO) declaration

2. To be provided by you (Direct input)

• Tax ID of the person opening the account
• Tax ID of the Ultimate Beneficial Owners (UBOs – individuals holding more than 25% of the shares)
• Tax ID of the Limited Partnership (KG)
• Partnership agreement / Articles of association of the KG (Gesellschaftsvertrag – dated and signed, in case the automatic retrieval fails)

💡 Tip: You can submit the Tax IDs up to 90 days after account opening. You can still start the verification process right now!

3. Optional documents for specific cases

Depending on your corporate structure, Swan may occasionally request additional proof later on:

• Power of attorney & ID document of the authorized representative
• ID documents of the UBOs
• PEP form (if an involved person is a Politically Exposed Person)
• Current annual financial statements, balance sheet, organization chart, or an affidavit regarding the corporate structure

📥 What happens if documents are missing or incorrect?

If Swan requires further documents from you, the bank will not contact you directly.

• Instead, Swan will reach out to us – the become.1 team.
• We review the bank's feedback, translate it into simple terms, and send you an email.
• We will tell you exactly what is missing and the best way to submit the document, guiding you step-by-step until successful activation.

🎉 What happens after successful verification?

As soon as Swan accepts your details, your account status in the portal will switch to VERIFIED. From this point on, you can get the cards ready for use:

1. Set up SEPA direct debit mandate: Click on Set up SEPA direct debit, enter your billing bank account, and download the generated SEPA form. Print it out, sign it, and send it to your house bank. Once your bank confirms it, the mandate is active.
2. Add employees & assign budgets: Add your team in the user management section and assign them a monthly card budget (e.g., €50 benefit) via a benefit template.
3. Approve cards ("Issue Card"): As soon as an employee activates their card in their profile, it will appear in the admin section under become.1 Card. Select the person and click on Issue Card. Only at this exact moment is the card active and ready to use.

📞 Still have questions?

We know that regulatory banking processes can sometimes be complex. If you have questions or need help with the documents, just send us a message at customer-success@become1.de or write to us in the chat.

We are happy to support you every step of the way!