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How to get EFTPOS for your business

19-Oct-2015

At IF EFTPOS, we have been setting up EFTPOS solutions for small to medium sized businesses for over 10 years. We are specialists in helping businesses get EFTPOS.

Many of our customers spoke to their business bank before contacting us. The feedback that they give us on a regular basis is that signing up for EFTPOS can be very confusing and time consuming. This is usually caused by the banks asking for all kinds of supporting documentation that isn’t explained properly upfront.

This causes great frustration to a business owner who just wants to spend their time setting up and working on their business. This article aims to provide you the information you need to know about how to get EFTPOS for your business.

At IF EFTPOS, we like to keep things simple for our clients. We have a team of dedicated EFTPOS specialists who are setting up EFTPOS services for businesses every day. We do as much of the application process as we can over the phone, leaving just a few forms to sign.

Below is an overview of the business, applicant and documentation requirements that are needed to apply for an EFTPOS facility for your business:

• Business Requirements

You must have a current Australia Business Number (ABN) to apply.

Your trading name (and company name if applicable) must be registered with ASIC.

You must have a business bank account for funds settlement (not a personal account or other form of account).

Your business bank account name must be a reflection of your legal entity name (same company name/same trading name etc.) 

• Applicant Requirements

To apply for EFTPOS you must be a director, sole trader or partner.

If there are multiple directors or partners then in the case of a company, a maximum of two directors are required to sign the paperwork. In the case of a partnership, all partners are required to sign the paperwork.

All applicants must be Australian permanent residents.

• Documentation Requirements

A copy of your driving licence or passport (for each partner or director if not a sole trader).

A copy of your bank statement for your settlement account. This is to verify your account details are correct (this must be a business account but can be with any bank or credit union).

A copy of a utility bill (or similar document). To evidence your trading address.

If you can provide us with these documents, we can pre-populate the application form and send it out to you to sign – easy as that!

Delivery time from application is typically 5-7 business days.

We can seamlessly manage and monitor the application process for you to get EFTPOS into your business so you can get on with you focusing on your business. You can be safe in the knowledge that your EFTPOS needs are taken care of by the best in the business!

See full details of our EFTPOS offering on our IF EFTPOS pages.

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