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 (Limited).
- Applicant - the individual person applying for Weel on behalf of the business, who must be a New Zealand 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 New Zealand Business Number Register or the New Zealand Companies 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 a New Zealand 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 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 (Driver's License & Passport)
- 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 company register
2. Business Details
We require the following information:
- Registered company name
- NZBN
- Registered business address
- Number of employees
- Estimated annual turnover
- Industry and sub-industry
- Intended use of the account
- Bank Account
- Bank name
- Account name (For AML/CTF reasons, the bank account name should match the registered business name)
- Account number
3. Stakeholder Details
You’ll need to provide information for:
- Directors
- Any Ultimate Beneficial Owners (UBOs)
- Individuals who own 25% or more of the company or have significant control
You'll also be required to disclose any nominee stakeholders:
- A nominee director is a director who acts under the instructions of another person who is not a director
- A nominee shareholder is a shareholder who holds shares under the instructions of another person who is not a shareholder
For each stakeholder:
- Full legal name
- Date of birth
- Citizenship
- Residential address
- Position in the business
- For any nominee stakeholders, a nominee agreement
- Two forms of government-issued ID (passport and driver’s licence)
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