You may be eligible to open an account provided you are:
- 18 years of age or more
- Australian/New Zealand citizen or permanent resident
- Sole trader or director of the business – this means you are authorised to open a financial facility on behalf of the business.
To sign-up your business you’ll need the following:
- The ABN / NZBN for your business (which will be the borrower)
- Australian/New Zealand citizen or permanent resident
- Confirmation your business (the borrower) has been in operating for at least 1 year
- Authority to open this account for your business (i.e. you must be the sole trader, a director, a partner or a trustee of the business)
- Your business bank account login details
- Your business estimated annual turnover and net profit
- One form of ID:
- Australian / NZ Driver Licence; or
- Australian / NZ Passport
What is the application process?
- Download the app
- Provide your email and mobile number – this will be your login credential
- Provide your Photo ID – we will need name, DOB, address, DL / PP number
- Business details – ABN / NZBN
- Bank login
- Estimated turnover / net profit
- You can request a credit limit (up to $30k) or we will automatically assign one for you
How long will the application take?
- We will try to approve you instantly – in some instances we may need to review your application (expected turnaround 1 business day)
- If there are other parties to the application we will need to contact these parties (e.g. other directors / shareholders) as part of our AML obligations and to execute the contract (depending on your business type)
Supported business types:
Business Type | Which authorised person is required to open the account / sign the contract | Identity and credit check requirements for authorised person | Any other parties required? | Additional documents? |
---|---|---|---|---|
Sole Trader | Sole Trader |
| n/a | n/a |
Pty Ltd Company – single director | Sole Director |
| n/a | n/a |
Pty Ltd Company – multiple director | 2 directors
|
| All shareholders ( ≥ 25%) need Photo ID verification | n/a |
Partnership | Per partnership agreement |
| All partners require Photo ID verification | Certified partnership agreement |
Trusts | Per trust deed |
| Individual trustee require Photo ID verification. Appointors of the trust require Photo ID verification. | Certified trust deed |