Skip to main content

What information do I need to provide about my business?

  • 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 all businesses:

  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

The specific information required for each category depends on the type of entity your business is registered as. You can identify the entity type of your business by searching the Australian Business Register.


1. Applicant

The applicant is the individual person applying for Weel on behalf of the business. We require the following information about the applicant, regardless of entity type

  • Full legal name
  • Date of birth
  • Citizenship
  • Residential address
  • Details of at least one ID document (Passport, driver’s licence or Medicare card)
  • Position in the entity
  • Letter of authority (learn more)

If we’re unable to verify the applicant’s identity using the above information, we’ll ask for details of a second ID document. 

 

2. Business details

We currently allow the following entity types to apply for an account with Weel: sole traders, private companies, public companies, trusts, associations, government entities and partnerships. We ask for different information depending on the entity type.

The minimum information required for all entity types:

  • Registered name
  • ABN
  • Registered address
  • Number of employees
  • Annual turnover estimate
  • Industry and sub-industry

In addition to the above information, we ask for the following information for specific entity types.

Entity type Additional information required (in addition to the above)
Association
  • Incorporation number
Government entity No additional information
Partnership
  • Registered address
  • Principal place of business address
  • A copy of the partnership agreement
  • If the partnership is regulated by a professional association
    • If it is, the name of the association and the association membership details
Private company
  • ACN
Public company
  • ACN
  • Where the company is listed (domestic exchange, international exchange or unlisted)
  • If the company is regulated and the name of the regulatory body
  • If the company has majority-owned subsidiaries that are listed
    • If it does, the name of the listed subsidiary and type of exchange (domestic exchange, international exchange)
Sole trader
  • Principal place of business address
Trust - regulated
  • A copy of the trust deed
  • The trust sub-type and the associated information:
    • Registered managed investment scheme
      • If it is, the ARSN is required
    • Unregistered managed investment scheme
      • If it is, confirmation whether the trust's clients are wholesale is required
      • If it is, a copy of the trust prospectus and investment mandate is required
    • Government superannuation fund
      • If it is, the name of the legislation under which the trust is established
    • Regulated under a Commonwealth statutory regulator
      • If it is, the name of the regulatory body 
Trust - unregulated
  • A copy of the trust deed
  • The trust sub-type (family trust, charitable trust, testamentary trust, unit trust, any other type of trust)
  • The name of legislation under which the trust is established



3. Stakeholder details

Who are the stakeholders of the business?

Entity type Stakeholders
Association
  • Chair
  • Secretary
  • Treasurer
  • Other ultimate beneficial owner(s)
Government entity
  • Director(s)
Partnership
  • Partners (both partners that are individuals and partners that are entities)
  • Director(s)
  • Other ultimate beneficial owner(s)
Private company
  • Director(s)
  • Other ultimate beneficial owner(s)
Public company
  • Director(s)
  • Other ultimate beneficial owner(s)
Sole trader
  • The Sole Trader (the owner of the business)
Trust
  • Trustees (both trustees that are individuals and trustees that are entities)
  • Settlor(s)
  • Executor(s)
  • Other ultimate beneficial owner(s)

What details are required for the stakeholders?

For each stakeholder, we require the following information:

  • Full legal name
  • Date of birth
  • Citizenship
  • Residential address
  • Position in the entity

If we are unable to verify the identity of a stakeholder with the above details, we’ll ask for details of 1-2 ID documents. 

For stakeholders that are entities (e.g. for trustees and partners), we require the following information:

  • Entity name
  • Entity type (government entity, private company or public company)
  • ABN or ACN
  • If the stakeholder is a public company, where the company is listed (domestic exchange, international exchange or unlisted)
  • Country of registration