Payment setup application process

To utilise our payments functionality, you must first complete the Payment Setup application in Trustd. What you’ll need to provide will depend on whether you are a sole trader or a limited company.

For sole traders

For limited companies

For sole traders:

Before you can use our payments functionality, you will need to ensure your business is TEG compliant.

If you have not completed this process yet, learn how to get TEG compliant here.

If you are already TEG compliant, please log in to Trustd and click on the Payment setup section to get started.

For a step-by-step guide on how to complete the Payment setup application in Trustd, see below. (To view this in full screen, click on the '4 arrows' icon in the top right of the guide)

As part of the Payment Setup application you will need to provide:

• Proof of identity (UK/EU drivers licence)
• Proof of residential address (bank statement dated within the last 3 months)
• Bank account details you would like to receive payments into

For limited companies

Before you can use our payments functionality, you will need to ensure your business is TEG compliant. If you have not yet completed this process, learn how to get TEG compliant here.

If you are already TEG compliant, please log in to Trustd and click on the Payment Setup section to get started. 

For a step-by-step guide on how to complete the Payment setup application, see below. (To view this in full screen, click on the '4 arrows' icon in the top right of the guide)

As part of the Payment Setup application you will need to provide:

• Proof of identity for the applicant company director (passport or UK/EU drivers licence)
• Proof of residential address for the applicant company director (UK/EU drivers licence or bank statement dated within the last 3 months)
  • Please note: if you used a drivers licence as proof of identity, you must submit a bank statement for proof of residential address.
• The details of the company bank account you’d like to receive payments into

If company Ultimate Beneficial Owners (UBOs) are different to Company Directors, you will also need to provide:

• Proof of identity for all UBOs (passport or UK/EU drivers licence)
• Proof of residential address for all UBOs (UK/EU drivers licence or bank statement dated within the last 3 months.
  • Please note: if you used a drivers licence as proof of identity, you must submit a bank statement for proof of residential address.

What is an ultimate beneficial owner and why do you need this information?

An Ultimate Beneficial Owner (UBO) is an individual that benefits from or is impacted positively by a company even though they are not formally named as the owner of a business.

If your limited company has any UBOs that are different to the applicant director, we will need to know during the onboarding stage to ensure that regulatory requirements are met.