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Create a Business Account

This guide walks you through creating a business account with Equals Money using the Onboarding API. Business accounts are for companies, sole traders, partnerships, charities, and other business entities.

For complete API specifications, field definitions, and request/response schemas, refer to the API Reference documentation.

Prerequisites

Before using the Onboarding API, ensure you have:

• A valid API key for authentication
• Information about the business you want to onboard
• Details of associated people (directors, UBOs, authorised signatory)
• Understanding of which KYC model applies to your integration

Workflow Overview

The business account onboarding flow:

1. Create Associated People - Add directors, UBOs, and authorised signatories
2. Create Application - Submit the business details and link associated people
3. Update Application (optional) - Modify details before submission
4. Upload Application Documents (optional) - Provide business documentation
5. Upload Associated People Documents (optional) - Provide identity documents
6. Submit Application - Finalise and trigger verification

Understanding the Onboarding Process

Why separate Create and Submit steps?

The Onboarding API separates application creation from submission. This allows you to:

• Gradually collect customer information over multiple sessions
• Amend application details before final submission
• Validate data incrementally
• Upload supporting documents at your own pace

Verification checks are only triggered upon submission, not when the application is created.

Step 1: Create Associated People

Endpoint: POST /v2/applications/associated-people

For business applications, you must create associated people before creating the application. These are the individuals connected to the business.

Types of Associated People

Required Fields by Role

Example Request

curl -X POST https://api.equalsmoney.com/v2/applications/associated-people \
  -H "Authorization: ApiKey YOUR_API_KEY" \
  -H "Content-Type: application/json" \
  -d '[
    {
      "firstName": "John",
      "lastName": "Doe",
      "dateOfBirth": "1990-01-01",
      "emailAddress": "john.doe@example.com",
      "nationalities": ["GB"],
      "residentialAddress": {
        "streetName": "High Street",
        "buildingNumber": "10",
        "postcode": "EC1A 1BB",
        "city": "London",
        "countryCode": "GB"
      }
    },
    {
      "firstName": "Jane",
      "lastName": "Smith",
      "dateOfBirth": "1985-05-15",
      "emailAddress": "jane.smith@example.com",
      "nationalities": ["GB"]
    }
  ]'

Response: Returns an array of created associated people with their IDs. Save these IDs to link them to your application in Step 2.

Sole Trader Requirements

Sole traders require:

1. One associated person record for the sole trader themselves
2. Link this person to the application with both roles:
   • APPLICANT (with jobTitle )
   • ULTIMATE_BENEFICIAL_OWNER (with ownershipPercentage: 100 )

This is required because the sole trader is both the authorised signatory AND the sole owner of the business.

Example: Linking a Sole Trader

{
  "associatedPeople": [
    {
      "associatedPersonId": "e9293471-5eb3-4dbc-916c-dbaf9e2deefd",
      "associationType": "APPLICANT",
      "jobTitle": "Owner"
    },
    {
      "associatedPersonId": "e9293471-5eb3-4dbc-916c-dbaf9e2deefd",
      "associationType": "ULTIMATE_BENEFICIAL_OWNER",
      "ownershipPercentage": 100
    }
  ]
}

Step 2: Create Application

Endpoint: POST /v2/applications

This endpoint creates a business application.

Business Application Types

The type field determines what kind of business entity you're onboarding:

Required Information

Market and Incorporation

Business Profile

Addresses

Business applications need at least one address:

You can include multiple trading addresses if the business operates from different locations.

Feature Configuration

The featureInformation object determines account capabilities.

If requesting PAYMENTS, provide paymentsInformation:

• purposes , accountFundingSource , estimatedPaymentCount , estimatedPaymentVolume
• inboundCurrencies , outboundCurrencies
• receivingCountries , sendingCountries

If requesting CARDS, provide cardsInformation:

• businessDisplayName (max 15 characters, appears on cards)
• purposes , estimatedAnnualSpend , numberOfCardsRequired
• cardsAreForEmployees , atmWithdrawalsRequired

Linking Associated People

The associatedPeople array links individuals from Step 1 to the application:

Example Request

curl -X POST https://api.equalsmoney.com/v2/applications \
  -H "Authorization: ApiKey YOUR_API_KEY" \
  -H "Content-Type: application/json" \
  -d '{
    "market": "UK",
    "countryOfIncorporation": "GB",
    "type": "PRIVATE_COMPANY",
    "registeredName": "Acme Ltd",
    "registrationNumber": "12345678",
    "tradingNames": ["Acme Trading"],
    "businessOverview": "We provide software services to SMEs across the UK.",
    "industry": {
      "main": "INFORMATION-AND-COMMUNICATION",
      "sub": "IT-AND-COMPUTER-SERVICES"
    },
    "employeeCount": "ELEVEN_TO_FIFTY",
    "incorporationDate": "2020-01-01",
    "phoneNumber": "+447911123456",
    "website": "https://acme.example.com",
    "featureInformation": {
      "requestedFeatures": ["PAYMENTS", "CARDS"],
      "cardsInformation": {
        "businessDisplayName": "ACME",
        "purposes": ["EMPLOYEE_INCENTIVES", "TRAVEL_EXPENSES_DOMESTIC"],
        "estimatedAnnualSpend": "100001-250000",
        "numberOfCardsRequired": "11-50",
        "cardsAreForEmployees": true,
        "atmWithdrawalsRequired": false
      },
      "paymentsInformation": {
        "purposes": ["RECEIVING-PAYMENTS-FROM-CUSTOMERS-AND-PAYING-SUPPLIERS"],
        "estimatedPaymentCount": "100-500",
        "estimatedPaymentVolume": "100001-250000",
        "inboundCurrencies": ["GBP", "EUR"],
        "outboundCurrencies": ["GBP", "EUR"],
        "receivingCountries": ["GB", "FR"],
        "sendingCountries": ["GB", "DE"]
      }
    },
    "addresses": [
      {
        "addressType": "REGISTERED",
        "streetName": "Upper Thames Street",
        "buildingNumber": "68",
        "buildingName": "Vintners Place",
        "postcode": "EC4V 3BJ",
        "city": "London",
        "countryCode": "GB"
      }
    ],
    "associatedPeople": [
      {
        "associatedPersonId": "e9293471-5eb3-4dbc-916c-dbaf9e2deefd",
        "associationType": "APPLICANT",
        "jobTitle": "Director"
      },
      {
        "associatedPersonId": "a1234567-8b90-4cde-f012-3456789abcde",
        "associationType": "DIRECTOR"
      },
      {
        "associatedPersonId": "b2345678-9c01-4def-0123-456789abcdef",
        "associationType": "ULTIMATE_BENEFICIAL_OWNER",
        "ownershipPercentage": 75
      }
    ]
  }'

Response: Returns the created application with an id and status: 'DRAFT'.

Step 3: Update Application (Optional)

Endpoint: PATCH /v2/applications/:applicationId

You can update an application before submitting it.

Validation rules:

• You cannot change the application type
• You cannot add personal-specific fields to a business application
• Must maintain at least one REGISTERED or TRADING address

Example Request

curl -X PATCH https://api.equalsmoney.com/v2/applications/{applicationId} \
  -H "Authorization: ApiKey YOUR_API_KEY" \
  -H "Content-Type: application/json" \
  -d '{
    "registeredName": "Acme Ltd Updated",
    "businessOverview": "Updated business description here."
  }'

Step 4: Upload Application Documents (Optional)

Endpoint: POST /v2/applications/:applicationId/documents

Upload documents to support the business verification process.

Request: Multipart form data with:

• purpose - Document purpose (e.g., 'PROOF_OF_FORMATION' , 'PROOF_OF_OWNERSHIP_STRUCTURE' , 'OTHER' )
• file - The document file (accepts media and document file types, maximum file size is 10MB)

Please refer to the KYC Pack for more information on documents we will expect to receive based on your company type.

Example Request

curl -X POST https://api.equalsmoney.com/v2/applications/{applicationId}/documents \
  -H "Authorization: ApiKey YOUR_API_KEY" \
  -F "purpose=PROOF_OF_FORMATION" \
  -F "file=@certificate_of_incorporation.pdf"

File requirements: Media and document file types accepted, maximum 10MB.

Step 5: Upload Associated People Documents (Optional)

Endpoint: POST /v2/applications/associated-people/:associatedPersonId/documents

Upload identity documents for associated people (directors, UBOs, applicants).

Request: Multipart form data with:

• purpose - Document purpose (e.g., 'PROOF_OF_IDENTITY' , 'PROOF_OF_ADDRESS' , 'OTHER' )
• file - The document file (accepts media and document file types, maximum file size is 10MB)

Document Upload Requirements by KYC Model

Example Request

curl -X POST https://api.equalsmoney.com/v2/applications/associated-people/{associatedPersonId}/documents \
  -H "Authorization: ApiKey YOUR_API_KEY" \
  -F "purpose=PROOF_OF_IDENTITY" \
  -F "file=@passport.pdf"

Step 6: Submit Application

Endpoint: POST /v2/applications/:applicationId/submit

This finalises the application and submits it for review. Once submitted, the application status changes to 'SUBMITTED' and cannot be modified.

Example Request

curl -X POST https://api.equalsmoney.com/v2/applications/{applicationId}/submit \
  -H "Authorization: ApiKey YOUR_API_KEY"

Response: Returns the application with status: 'SUBMITTED'.

Validation Rules and Common Errors

Address Validation

Business applications must have at least one REGISTERED or TRADING address.

Associated People Validation

• Must have at least one APPLICANT
• All UBOs with 25%+ ownership must be included
• ownershipPercentage required for UBOs
• jobTitle required for APPLICANTs

Type Validation

You cannot add personal-specific fields to a business application.

Error: "Cannot update business application with personal-specific fields: ..."

Authentication Errors

Error: 401 Unauthorized

• Verify your Authorization header uses: Authorization: ApiKey YOUR_API_KEY
• Check that your API key is valid

Best Practices

1. Create associated people first : Always create associated people before the application
2. Verify data : Use GET endpoints to verify data before submission
3. Handle errors : Check validation error responses for specific field issues
4. Test with DRAFT status : Applications start with status: 'DRAFT' - use this to test
5. Understand your KYC model : Know which verification model applies to your integration
6. Reference the API spec : For complete field specifications, refer to the API Reference documentation

Next Steps

For information about webhook events and application status updates, see the Webhooks Documentation.

For complete API specifications, refer to the API Reference documentation.

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