What is a Payment Profile?
A Payment Profile is a verified bank account wallet linked to a specific payment system. It is required by South African regulations to confirm that the bank account used for withdrawals belongs to the Weltrade account holder.
Key facts:
A Payment Profile must be created and verified before your first withdrawal
This is a one-time process - once verified, it can be reused for future withdrawals without re-uploading documents
A Payment Profile is linked to specific bank account details. If you want to withdraw to a different bank account, you must create a new Payment Profile and pass verification again
A verified Payment Detail can be reused across different payment systems without re-uploading documents
After submission, your Payment Profile appears as a card on the Settings → Payment Profiles page. It is not available for withdrawals until the verification is complete. Once the review is done, you will receive an email notification with the result. If your Payment Profile was rejected, you will see the rejection reason on the Payment Profiles page. A new request must be submitted from scratch.
How to create a Payment Profile
Step 1. In the top menu, click Finance, then select the Withdrawal tab. Click "OZOW".
Step 2. Click Create payment profile.
Step 3. Fill in your bank details. Enter your bank name, account number, and other required details.
Step 4. Upload a bank statement. Upload a bank statement to confirm ownership of the account. The statement must clearly show:
Bank name
Account holder name matches your Weltrade account name
Account number
Statement date - issued within the last 3 months
Document is clear, readable, and complete
PDF is not allowed.
Step 5. Submit and wait for verification. After submission, your Payment Profile status will be set to In Review. Your request will be reviewed and you will receive an email notification once complete. Processing time may vary - most requests are reviewed within 1 business day.
If confirmed:
Your Payment Profile status changes to Verified
The profile becomes available for withdrawals
The verified Payment Detail can be reused for other payment systems without re-uploading documents
If rejected:
You will receive an email with the rejection reason
No Payment Profile is created
The rejected request cannot be edited - a new request must be submitted from scratch
💡 Common rejection reasons: bank name mismatch, account holder name mismatch, account number mismatch, document too old, document not visible, document cropped, wrong document type.
⚠️ Important information
The bank account must be registered in your name. Requests submitted with a third-party bank account will be rejected.
A rejected request cannot be edited. A new request must be submitted from scratch.
Both KYC and address verification must be completed before a Payment Profile can be used for withdrawals.
Frequently asked questions (FAQs)
Why do I need a Payment Profile?
Why do I need a Payment Profile?
A Payment Profile is required by South African regulations to verify that the bank account used for withdrawals belongs to the Weltrade account holder. It is a one-time process - once verified, it can be reused for future withdrawals.
How long does verification take?
How long does verification take?
Processing time may vary - most requests are reviewed within 1 business day. You will receive an email notification once the review is complete.
My Payment Profile was rejected. What should I do?
My Payment Profile was rejected. What should I do?
A rejected request cannot be edited. Submit a new Payment Profile request and check the rejection reason sent to your email. Make sure your new bank statement meets all requirements: issued within the last 3 months, clearly shows bank name, account holder name and account number, and is not a PDF.
What happens if I try to create a Payment Profile with a bank account that is already verified?
What happens if I try to create a Payment Profile with a bank account that is already verified?
If the account is already verified for a different payment system, a new Payment Profile will be automatically created and linked to the existing verified Payment Detail - no need to re-upload documents. If it is already verified for the same payment system, the request will be blocked as a duplicate.
Can I use the same Payment Profile for a different bank account?
Can I use the same Payment Profile for a different bank account?
No. Each Payment Profile is linked to specific bank account details. If you want to withdraw to a different bank account, you must create a new Payment Profile and pass verification again.
Can I reuse my verified Payment Detail for other payment systems?
Can I reuse my verified Payment Detail for other payment systems?
Yes. Once your Payment Detail is verified, it can be linked to other payment systems without re-uploading documents.
Where can I see my Payment Profiles?
Where can I see my Payment Profiles?
Your Payment Profiles are visible in Settings → Payment Profiles in your Personal Profile.