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Overview for Private Companies (Australia)

  • Updated

To create a Weel account for your business or organisation, we need to collect and verify certain information about you and your business. Learn more about why we require this information.

There are three categories of information we require for Private Companies (Pty Ltd).

  1. Applicant - the individual person applying for Weel on behalf of the business
  2. Business - the details of the business you're creating a business account for
  3. Stakeholders - associated with the business

You can confirm your business structure by searching the Australian Business Register.

Note: Please note this is a guide on the baseline information, there may be additional information required at a later stage.

1. Applicant Details

The applicant is the individual person applying for Weel on behalf of the business. We require the following information about the applicant:

  • Full legal name
  • Date of birth
  • Gender
  • Citizenship
  • Residential address
  • Position in the company (e.g. a Director or an authorised person applying on behalf of the company, like a CFO or Finance Manager)
  • Two forms of government-issued ID (passport, driver’s licence, or Medicare card)
  • A Letter of Authority if they are not the Director of the company, confirming they are authorised to open the account
    • Please note a Director is any registered company director who is listed as a director on the company’s official ASIC/company register

2. Business Details

We require the following information:

  • Registered company name
  • ABN and ACN
  • Registered business address
  • Number of employees
  • Estimated annual turnover
  • Industry and sub-industry

3. Stakeholder Details

You’ll need to provide information for:

  • Directors
    • The most senior director e.g. Managing Director, CEO, most senior stakeholder
  • Any Ultimate Beneficial Owners (UBOs) – individuals who own 25% or more of the company or have significant control

For each stakeholder:

  • Full legal name
  • Date of birth
  • Citizenship
  • Residential address
  • Position in the business
  • Two forms of government-issued ID (passport, driver’s licence, or Medicare card)

If we can’t verify their identity, we'll request for the digital copies of the identity documents.

4. Common Issues & Tips

  • Please make sure the Letter of Authority is signed by a Director
  • Double-check that all stakeholders’ details match their official ID
  • If your company has complex ownership (e.g. via trusts), we may request additional documents