This page details the FS requirements for an applicant who is registered inside EEA in a country other than Italy, the UK, or any other EEA country that is not part of the EU.
Soldo Financial Services Ireland DAC is a licensed provider of payment services and is regulated by the Central Bank of Ireland. To comply with the anti-money laundering and counter-terrorist financing provisions set by our regulators and banking partners, we must conduct due diligence on all applicants.
We understand this may be inconvenient, but it is a crucial part of our compliance obligations. The process plays an important role in ensuring that our company maintains its integrity and responsibility to protect against financial crime.
During the registration process, we'll ask you to provide some key information. If you don’t have all the necessary information on hand when you begin, don’t worry; your progress will be saved so you can start the application and return to it at any time.
Registration checklist
You'll need:-
- Your details ✔
- Your company's details ✔
- The details of your company’s legal representative ✔
- The details of your Super Admin (the person who will manage the Soldo account ✔
- An ID ✔
- A camera phone or webcam for a ‘liveness check’ ✔
You may also need:-
- A proof of address
Online registration
Online registration consists of 3 stages:
To start the process, first select the plan that meets your requirements. When you have selected your plan, you will need to complete the online registration form.
Completing the registration form
The registration form consists of the following sections:
- Verify your email address
- Confirm identifying information about your organisation
- Additional details about your organisation
- Confirm some details about the Legal Representative and Super Admin(s) on the account.
- Provide information about how you plan to use Soldo
- Provide details of your organisation’s beneficial owners
- Read and agree to the Soldo Financial Services Terms & Conditions. (If you have a discount code, this is where you can provide it.)
Here's a detailed breakdown of each section of the registration form and the information we may require from you:
Verify your email address
- Provide your email address then input the one-time passcode you receive into the registration form.
Confirm identifying information about your organisation
- Enter your organisation’s name into our search tool to locate and confirm your organisation.
- If you can’t find it using the search tool, you can manually input your organisation’s details.
We will ask for:- Name
- Registered Address
- Registration number
- Tax ID number (if applicable)
Additional details about your organisation
We’ll ask some additional questions about your organisation, including:
- The type of legal entity or arrangement
- Number of employees (Select from a range/options)
- Trading address
- The countries you operate in
- What your company does
Confirm details about the Legal Representative and Super Admin(s) on the account
We’ll need to confirm:
- Name
- Citizenship
- Date of birth
- Work email
- Mobile number
- Address
Provide information about how you plan to use Soldo and the estimated usage
- Your planned use of Soldo (Select from reasons for registering)
- Estimated number of cards (Select from range/options)
- Expected monthly spend (range)
- Expected cash withdrawal (range)
- Estimated funding percentage from third-party bank accounts (range)
Details of beneficial owners
If you know their details, you can input them directly on the application and proceed to the next section.
Alternatively, you can email this information to us at businesssupport@soldo.com after submitting your application. If you choose this method, you have options for specifically how you provide this information:
- Provide a document* detailing your organisation’s ownership structure, including all beneficial owners, or,
- you can download and submit the Declaration of Beneficial Owners form here.
*Depending on your organisation’s legal structure, it may be more appropriate to provide other documentation or information, for example:
- Trusts: Documentation listing trustees and beneficiaries, such as a Deed of Trust or Register of Trustees/Beneficiaries.
- Partnerships: The partnership agreement detailing partners’ ownership and voting rights.
- Charities: Governing documents, lists of trustees, and details of any persons exerting control.
- Other: Official and/or certified documentation that details your organisation’s ownership and control structure.
What is a beneficial owner?
A beneficial owner refers to an individual who, directly or indirectly, satisfies any of the following ownership conditions within a company or legal entity:
- Owns more than 25% of the shares.
- Holds more than 25% of the voting rights.
- Has the right to appoint or remove a majority of the board of directors.
- Holds the right to exercise, or actively exercises, significant influence or control.
Read and agree to the Soldo Financial Services Terms & Conditions
We’ll ask that you read and agree to our Terms & Conditions.
By agreeing to our Terms & Conditions you will have successfully submitted your application.
What happens after I have completed the registration form?
When you have completed the registration form, the next steps are:
- Individual identity verification: We will email each Super Admin and Legal Representative you named on the registration form with instructions to confirm their identity.
-
Application review: While you and your colleagues confirm your identity, we will review your application and email you within 1-3 working days to:
- Request additional information, or,
- Provide confirmation of approval and credentials to start using your Soldo account
Individual identity verification
To verify the identity of individuals, Soldo uses a trusted, independent identity verification provider. To comply with regulatory obligations, we will need to verify the identity of the legal representative and Super Admins you include in the application.
Links will be emailed to the required individuals, which will guide them through the requirements.
What information do I need to provide for the identity verification?
The process will typically include requests for the following:
Proof of Identity
Clear, legible and unmarked colour copy of a valid document to confirm your identity, such as:
- Driving license (Front and back)
- Passport
- Identity card (Front and back)
Liveness check
A short video for facial recognition you’ll take on a front-facing camera phone or webcam.
Proof of Address
Clear, legible and unmarked copy of a document to confirm your personal residential address. This document should have a visible issue date from within the last three months.
Possible documents:
- Gas, water or electricity bill
- TV or telephone bill
- Copy of personal bank statement (Transaction content can be cut out / cropped as long as we can see bank logo, name, date, and address)
- Copy of car or home insurance certificate
- Registration of a registered car
- Recent document provided by the government stating personal residential address
Note: the address on the document must match the address provided for the person.
Application review
If your application is approved you will receive an email notification with the credentials to login to your new Soldo account.
We might request additional information. Every organisation is different, so after reviewing your application, we may request additional information in accordance with our regulatory obligations as an e-money issuer.
How long will it take to review my application?
Our Financial Services team will aim to review your application within 1 working day.
What additional information may I be required to provide?
Information we may request after reviewing your application:
FATCA Entity Self-Certification
Before you load funds onto your account, we'll ask that you complete the FATCA Entity Self-certification Form. We will contact you with additional details. You can find more information and a link to begin the process here.
Organisation identity document
An official, up-to-date document identifying your organisation.
The exact document we need depends on your organisation, but possible examples include:
- Certificate of incorporation
- Deed of trust
- Partnership agreement
- Certificate of trust
- Articles of association
- Articles of memorandum
Ownership structure
An Ownership Structure Diagram: A diagram showing your organisation’s complete ownership structure, including parent companies, subsidiaries, and beneficial owners, signed by a director or Authorised Signatory of your organisation.
Source of funds
We may request a recent bank statement for your organisation or a bank letter as a method to validate the source of funding to your Soldo account.
Latest Annual Accounts
Most recent set of financial statements filed with the relevant national authority or company registry.
Clarification of submitted information
We may reach out with specific questions related to the information you submitted on the registration form to clarify or get additional detail. If so, we will be specific as to the information we need.
As each organisation is different and we review all applications on a case-by-case basis, we may require other information. We will be clear in our request.
FAQ's
How is the data I provide kept safe?
Soldo will never misuse your data. We will never sell it, give it away or use it for anything other than to deliver or improve our services to you. Our privacy policy applies to all individuals who supply personal data to us in relation to our technology and software services for businesses. This includes the person who signs up to our services on behalf of our business customer, users authorised to create and approve user accounts (known as ‘super admins’) and users of our services while employed by our business customer. Below we have summarised key areas around data. For further information, you can access our full privacy policy on our website at this link.
Data Storage and Protection
All data you provide to us is stored on our secure servers. Any payment transaction will be encrypted using Transport Layer Security technology. We use strong customer authentication (SCA) for extra security when logging into our technology and software services. Data can be audited upon request by the customer and is always available for the duration of the customer’s relationship with Soldo.
Data Deletion
As regulated financial institutions, Soldo Financial Services Ltd and Soldo Financial Services Ireland DAC are required to preserve the data for 10 years after the end of the business relationship for the sole purposes of sharing it with the corresponding regulator upon request or to aid any investigations led by a law enforcement agency.
Please refer to Soldo’s Terms & Conditions for details.
I have an existing account and received a new request for this information - why?
As a licenced provider of payment services, Soldo is required to regularly update customers' details, in relation to both the company and certain individuals associated with the Soldo account. To fulfil this ongoing obligation, we may occasionally reach out during the business relationship to request updated information.