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.

Looking for Personal accounts? If you’re onboarding an individual for a personal account, see the Create a personal account guide instead.

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:

Create Associated People — Add directors, UBOs, and authorised signatories
Create Application — Submit the business details and link associated people
Update Application (optional) — Modify details before submission
Upload Application Documents (optional) — Provide business documentation
Upload Associated People Documents (optional) — Provide identity documents
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

Role	Description	When required
APPLICANT	The authorised person applying for the account	Always required
DIRECTOR	A company director	Required for companies with directors
ULTIMATE_BENEFICIAL_OWNER	Any person with 25%+ ownership	Always required, if Sole Trader set to 100%

Required fields by role

Role	Required fields
APPLICANT	First name, Last name, Date of birth, Nationalities, Residential address, Email address
DIRECTOR	First name, Last name, Date of birth
ULTIMATE_BENEFICIAL_OWNER	First name, Last name, Date of birth, Nationalities, Residential address, Email address, Ownership percentage

UBO Ownership Percentage: When collecting ownership percentage, always use the upper range. For example, if a person owns between 25-50%, report 50%.

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"],
      "address": {
        "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

Important: Although sole traders are individuals, they must use the business application flow, not type: 'INDIVIDUAL'.

Sole traders require:

One associated person record for the sole trader themselves
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:

Value	UK Market	EU Market	US Market
SOLE_TRADER	Sole Trader	Sole Proprietor	Sole Proprietorship
PRIVATE_COMPANY	Private Limited Company	GmbH, SARL, BV	LLC / S Corporation
PUBLIC_COMPANY_LISTED	PLC (Listed)	AG / SA / NV (Listed)	C Corporation (Listed)
PUBLIC_COMPANY_UNLISTED	PLC (Unlisted)	AG / SA / NV (Unlisted)	C Corporation (Unlisted)
PARTNERSHIP	Partnership / LP / LLP	SNC / KG / SCS / CV	GP / LP / LLP
NON_PROFIT	Non Profit / Foundation	Non Profit / Foundation	501(c)(3) Nonprofit
SOCIAL_ENTERPRISE	CIC	SCIC / gGmbH	Benefit Corporation, L3C
CHARITY	Charity	Charity	Charity
TRUST	Trust	Trust	Trust
PENSION	SIPP / SSAS	Local pension schemes	IRA / 401(k)
FUND	Fund	Fund	Fund

Required information

Market and incorporation

Field	Required	Description
`market`	Yes	UK, EU, or US
`countryOfIncorporation`	Yes	ISO 3166-1 country code
`regionOfIncorporation`	Conditional	Required for Germany, France, US
`type`	Yes	Business type (see table above)
`registeredName`	Yes	Legal name of the company
`registrationNumber`	Conditional	Required if registered
`tradingNames`	Yes	Array with at least one trading name
`incorporationDate`	Yes	Date of incorporation

Business profile

Field	Required	Description
`businessOverview`	Yes	Description of the business (1-1000 chars)
`industry`	Yes	Object with `main` and `sub` industry codes
`employeeCount`	Yes	e.g., `ONE_TO_TEN`, `ELEVEN_TO_FIFTY`
`phoneNumber`	Yes	Business phone number
`website`	Conditional	Required if business has a website
`businessPromotionDescription`	Conditional	Required if no website to explain how the business acquires customers and promotes itself

Addresses

Business applications need at least one address:

Address type	When required
`REGISTERED`	Always required
`TRADING`	Required if different from registered 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:

Association type	Required field
`APPLICANT`	`jobTitle`
`DIRECTOR`	None
`ULTIMATE_BENEFICIAL_OWNER`	`ownershipPercentage` (0-100)

Note: You can link the same person multiple times with different roles.

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.

Note: Additional documents may be requested by the KybInformationRequest webhook after application submission.

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

KYC model	Document upload requirements
Managed by Equals	Document upload via API is optional. A portal link will be generated for your customer to complete a guided ID verification journey.
Hybrid	Upload documents via API to support the verification process. This should include a Proof of Identity and Proof of Address, unless otherwise specified.
Delegated	Upload certified identity documents via API.

Note: Additional documents may be requested by the KybInformationRequest webhook after application submission.

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.

Important: Verification checks are triggered at this point. For the Managed by Equals KYC model, associated people will receive instructions to complete their verification journey.

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

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

Next steps

After submitting your application, you’ll receive webhook notifications as it progresses through review. See Onboarding webhooks to learn which events to expect and in what order. For complete API specifications, refer to the API Reference documentation.

​Create a business account

​Prerequisites

​Workflow overview

​Understanding the onboarding process

​Step 1: Create associated people

​Types of associated people

​Required fields by role

​Example request

​Sole trader requirements

​Example: Linking a sole trader

​Step 2: Create application

​Business application types

​Required information

​Market and incorporation

​Business profile

​Addresses

​Feature configuration

​Linking associated people

​Example request

​Step 3: Update application (optional)

​Example request

​Step 4: Upload application documents (optional)

​Example request

​Step 5: Upload associated people documents (optional)

​Document upload requirements by KYC model

​Example request

​Step 6: Submit application

​Example request

​Validation rules and common errors

​Address validation

​Associated people validation

​Type validation

​Authentication errors

​Best practices

​Next steps

Create a business account

Prerequisites

Workflow overview

Understanding the onboarding process

Step 1: Create associated people

Types of associated people

Required fields by role

Example request

Sole trader requirements

Example: Linking a sole trader

Step 2: Create application

Business application types

Required information

Market and incorporation

Business profile

Addresses

Feature configuration

Linking associated people

Example request

Step 3: Update application (optional)

Example request

Step 4: Upload application documents (optional)

Example request

Step 5: Upload associated people documents (optional)

Document upload requirements by KYC model

Example request

Step 6: Submit application

Example request

Validation rules and common errors

Address validation

Associated people validation

Type validation

Authentication errors

Best practices

Next steps