How to Get Your Pinch Account Approved Quickly

Now that you have created your account, we have to review your account for compliance. This may take a couple of days so please be patient during this often tedious step.

Thank you for registering a Pinch account. Welcome to the family.

Now that you have created your account, we have to review your account to ensure that we don’t allow our platform to be used for nefarious purposes. This can be a tedious step, but it is unfortunately necessary for us to be allowed to work with institutions such as Visa, Mastercard and our banking partners. Rest assured we will do our best to guide you through it and make it easy. Please carefully read over the information below.

Uploading Documentation

First things first, you will need to go here and upload documentation. The sooner you do this, the quicker you can start to receive settlements. If you already have, it is still a good idea to read on to ensure you did everything the right way.

Here’s what you will need:

  • A copy of your most recent bank statement in full, with no redaction (this means hiding or erasing information from the document). Or if you are a new business, a letter of establishment from your banking institution.
  • Personal identification documents of the ultimate beneficial owner of the organisation that owns the bank account. The ultimate beneficial owner is the person/s who owns the most shares in the organisation, or who owns the most shares in the holding entity that owns the organisation.
  • A copy of your ASIC summary or a letter from an Australian government institution such as the ATO or ASIC that shows the business name clearly. We will accept most logical things here.
  • For NFPs, trusts or government entities, please click here to find out how to get verified.

In the Meantime

Until you upload these documents and we approve you, you will only be able to use Pinch to accept payments, but will be unable to receive settlements.

How Long Will It Take

We will review your documents within at most 3 business days and either approve your account for settlements, or email you to let you know if there are issues with your application.

What Happens if I'm Not Approved

In the event you take a payment, but are unsuccessful getting your account approved we will automatically refund all payments back to the payer and disconnect any connected accounting applications. This can be frustrating for both you and your payer, so it is best to be confident you are likely to get approved before you start taking payments.

Here are some things that may delay or prevent approval:

  • Failing to upload documents in a timely manner.
  • Uploading the wrong documents. Ensure if you are uploading identification documents to upload the front and back of your licence, and ensure that the document is an approved document for the purpose as per above.
  • Having a checkered business history, or a history of white collar crime or unethical behaviour. 
  • If you are a business in any of the industries found in this list we may require further investigation to determine if we can service your needs, or we may not be able to.

We hope that by providing you with all the information above we are able to get you approved quickly so we can start helping your business collect payments on autopilot.