Explaining the Pinch Account Review Process

When you first create your Pinch account, you will need to upload documentation so we can confirm the legitimacy of your business. This is part of our compliance obligations.

If you see "Under Review" on your account dashboard, it means our compliance team is reviewing your submitted documents. This process generally takes up to three business days. If we need more information, it may take longer.

If you do not have an ABN or operate under a different business structure, you can find information on acceptable alternative documents in our support resources.

You can find more information on alternative documents to supply to help assist your review here. 

Some ways to ensure that the process is quicker:

• Upload all the required documents:
  (including both sides of your identification and a full, unredacted PDF bank statement).
• Make sure the identification is for the "ultimate beneficial owner" of the company. That means the person who owns the largest share of the company (or the largest share of the holding company that owns the company).

Common things that can cause your account to not be approved include:

• Missing bank statements:
  New businesses sometimes do not have bank statements yet. If possible, obtain a letter of account from your bank instead. Other document types will not be accepted.

• Few or no invoices:
  If your connected accounting system shows little or no transaction activity, we may need to speak with you.

• Mismatched details:
  Your bank statement must match the bank account details entered in your account setup.

• Compliance concerns:
  Prior business insolvencies, legal issues, or adverse media coverage about the business or its owners.

• Restricted industries:
  Our banking partners prohibit us from processing transactions for certain industries.

• Behaviour towards staff:
  Abusive or disrespectful conduct towards our customer service team during the review process.

What happen if my account does not get approved? 

If your Pinch account does not meet our compliance and regulatory requirements, it will be rejected. Any payments already received will be refunded to the original payment method. Your account will then be disabled.