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 Unregulated Trusts such as family trusts, unit trusts, charitable trusts, and testamentary trusts.
- Applicant - the individual person applying for Weel on behalf of the business, who must be an Australian citizen
- Business - the details of the business you're creating a business account for
- 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. The applicant must be an Australian citizen and must be able to satisfy the electronic safe harbour. We will require the following information about the applicant:
- Full legal name
- Date of birth
- Gender
- Citizenship
- Residential address
- Position in the trust e.g. a Trustee 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 Trustee of the trust, confirming they are authorised to open the account
- Please note a Trustee is any individual or entity formally appointed as a trustee of the trust, as listed on the trust deed or official trust documentation
2. Business Details
We require the following information:
- Registered company name
- ABN
- Registered business address
- Copy of trust deed
- Trust sub-type (e.g. family, charitable, unit)
- Name of legislation under which the trust is established
3. Stakeholder Details
You’ll need to provide information for:
- Trustees (individuals and entities)
- Settlor(s)
- Executor(s)
- UBOs
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.
For stakeholders that are entities (e.g. if another company is a UBO), we’ll also ask for:
- Entity name
- Entity type (e.g. private company, public company or government entity)
- ABN or ACN
- Listing status (domestic/international exchange or unlisted)
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
- The trust deed is essential - applications can’t proceed without it