To register the company, go to Penny Central and click on the register button. When you enter an email address a message will be generated to your selected email client. Open the email and click on the link.
Begin by entering the administrator’s details. The administrator will have full access to the administrator tools, including the desktop portal and the phone app. Next, enter the business details and location. These details are referenced against publicly available databases to verify the business exists. You will then be required to enter your bank account details.
Bank Account Details
A one-time verification check will be run against your bank account by depositing two small values into your nominated bank account. The amounts of these transactions can only be obtained by the owner of the account. Once your company is approved you will be prompted to enter the two values the next time you log into the company portal.
KYC regulations require Penny to know the director and any major shareholders of the company. Major shareholders are considered to be anyone owning more than 25% of the company. Additional owners and directors can be added at the bottom of the form.
The following documents are a requirement of the setup:
- ID of the account holder/administrator of the account. This information will be used to verify the account holder, with checks made against publicly available databases. Please note this is not a credit check.
- Proof of address. Please scan a document such as a utility bill or bank statement displaying your company name and address.
- Certificate of incorporation. Please scan a government issued document containing the details of your incorporated business.
- Corporate structure. If the company is a subsidiary of a larger group please include an illustration of the company ownership structure.
Acceptable document formats include; bmp, gif, jpg, jpeg, png, tiff, doc, docx, rar, zip, and pdf.
Please note that you can save and exit the form at any time. Your data will be retained and when you return you can continue from where you left off. Once your company is approved your login will direct you to the company portals dashboard.