If your application is approved you will receive an email 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 institution.
How long will it take to review my application?
Our onboarding team will aim to review your application within 1-2 working days.
What additional information may I be required to provide?
Information we may request after reviewing your application:
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.
Details of beneficial owners
Names and details of your organisation’s beneficial owners (the people who ultimately own or control it).
For most companies this can be done by providing:
- 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,
or,
- The Soldo Financial Services Declaration of Beneficial Owners form: we will attach the form to our request.
Depending on the type of entity applying for the e-money account, it may be more appropriate to provide other documentation or information, such as that outlined below:
- 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.
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 Companies House.
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.