What is HyperWallet?

Hyperwallet is a purpose-built payout platform that provides growing organizations like Plum Guide with a frictionless, transparent, and reliable way to manage payments and enhance the payee's experience anywhere in the world.

Why do I need HyperWallet?

We are moving all of our payouts to be processed through the HyperWallet system, and in order for us to do this, we need you to create an account with your payout details.

Why are you changing payout provider?

HyperWallet offers us the ability to pay multiple different countries around the world all in one simple system. As Plum Guide is growing so quickly, this is a huge thing for us. They are also part of the Paypal group who we already have a relationship with and we trust them to be a great provider which will benefit our hosts as well as Plum Guide as we continue to rapidly expand.


Why do I need to input my details? I already provided them to Plum Guide.

As we are changing systems and banking information is so sensitive we require all hosts to re-input their details.

Why can't you input my details for me?

As banking information is so sensitive, for your safety and to comply with GDPR, the best option is to ask you to re-input the details yourself. That way, there are no concerns over the data being entered incorrectly and we can ensure your payout remains a smooth and simple process without any delays.


Will it hold up my payouts?

If you need to go through the verification process this can take up to 3 working days to be verified. Once you complete the verification process your payment will be processed straight away. The verification process is only required once, after that your payments will go through as normal.

Is there a fee for using HyperWallet?

No, there are no fees for using HyperWallet. Nothing about your payout will change, just the way we process it will.

Will my payouts change?

No, nothing about your payout will change, just the way we process it will.


What information will I need to provide for verification?

Individuals:

  1. You will need to provide a proof of ID such as:

    1. Government / National ID

    2. Passport

    3. Driver’s License

  2. You will also be required to verify your address with one of the following documents:

    1. Utility bill (e.g., gas, electric, water, cable, phone)

    2. Financial statement

    3. National ID

    4. Government issued documents (e.g., tax bills, balancing statements)

Information on the submitted documents must be current and clearly visible. Up to 2 pieces of identification may be required.

Full name, address, and document validity (dated within the last 12 months) must be clearly visible.

Businesses:

When verification of a business is required, additional information for the business as well as the business contact, director(s) and beneficial owner(s) may be required.

  1. The business contact is verified as an individual, see Verification of an Individual for requirements. A business contact will not be required to provide proof of address.

  2. A letter of authorization, signed by an authorized legal representative of the business e.g. managing director, is required if the business contact is not listed as a director of the business.

  3. Articles of incorporation

  4. Director information - Minimum of one and maximum of five director(s) must be provided. Director must be listed on company directory (Note: The business contact may be listed as a director)

  5. Minimum of one and maximum of four beneficial owner(s) must be provided (a person with shares or interests greater or equal to 25%)

    1. If there are no beneficial owners with 25% or more shares or interests, the business contact must be listed as a beneficial owner

    2. Beneficial owners are verified as an individual, see Verification of an Individual for requirements. A beneficial owner will not be required to provide proof of address.

    3. The business contact and directors may be listed as beneficial owners


Why do I need to provide my ID?

We need to make sure you are who you say you are. This process is known as “Know Your Customer” (KYC) and is something we legally have to do.

I have failed verification - what happens now.

There is a chance you could fail the verification process if the information you provide isn’t clear enough - a blurry photo ID for example. If this happens, you will just need to reupload the required information and the process will start again.


I manage different payees so how will HyperWallet work?

You will be provided with the option to add multiple payees. These payees will then be required to go through the verification process with HyperWallet once they accumulate a payout of £2500 or above. Other than that, nothing will change in how your receive and manage bookings.

I don't want to join HyperWallet. What are my options?

Unfortunately, this is a requirement for all of our hosts. If you have any concerns please feel free to reach out to a member of the Plum Guide team who can answer any questions you may have.

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