Completing the verification process

After adding a bank account, a verification bar will appear with the steps required to fully activate your account. The icon beside each item will reflect their status, while clicking on each item will show you what action/item is specifically required

Only after completing the verification process is your account fully activated to process transactions

 

+ Email

After registering with Plooto, you will receive an e-mail to verify your e-mail address. This is to confirm access to the e-mail account being used. If you cannot find the e-mail, you have the ability to resend the e-mail within this section of the verification bar
Here you are requested to provide an image of a void cheque. This is to confirm the company bank account information. If a void cheque is not available, please include a screenshot of an electronic void cheque (which can usually be obtained through your online banking portal) or copy of the latest bank statement. Please make sure that the business name, address and account numbers are clear and legible.  

The document must clearly list the following:
  • Business Name
  • Business Address
  • Full Account Number
To confirm the identity of individuals, Plooto utilizes standard tools within the financial services industry to verify your identity. As Plooto is a cloud-based service, this is a required step since we never meet you in person

After completing the form, the system will generate a few security questions. These questions are randomly generated based on your credit profile and answers are never stored. Rest assured, this does not result in a credit inquiry nor will it affect your credit whatsoever




With successful completion of this section, your status will change to completed


In some cases, a secondary step may be required to confirm your identity.  If this occurs, our Compliance team will review cases within 24 hours.  If any additional action is required, you will be notified by the Compliance team directly. Typically, this will include an ask to upload an image of valid ID

Acceptable forms of ID include:
  • Photo driver’s license
  • Provincial ID Card
  • Passport
The document should display the following:
  • Full name
  • Photograph
  • Date of birth
  • Signature
  • Expiry date
  • Document number
Note: This stage needs to be completed by ALL INDIVIDUALS through each of their separate logins.  For companies with multiple directors, Plooto currently requires that at least two directors complete this process (recognizing that not all directors will be active with daily financial activities)
 
After entering your company information, our system will search public records for a corporate registration.

If found, Plooto will display the current directors/partners found as well as the current company members on Plooto.  Where a company has more than two directors, at least two must be verified on Plooto.

If Plooto is unable to find sufficient information about your company within the corporate registry, the company director information will not appear and you may be contacted by the Compliance team to provide supporting documents

Depending on the nature of your business, the following documents may be required:
  • Corporation: Notice of Articles
  • Partnership: Partnership Agreement listing each partner
  • Sole Proprietorship*: Provincial Business Registration, Master Business License
  • Society / Non-Profit: Constitution, Annual Report or most recent AGM minutes (must list current directors)
*If operating in a name other than your own, the document must include both your legal name and company operating name

During the verification process, any other team members that are required to complete their Personal ID verification are listed here.  Plooto sends e-mail reminders for those outstanding


 
For further support, please contact us at compliance@plooto.co
 

GET STARTED FOR FREE

The simplest way to pay your vendors, contractors, and other business expenses online. Send payments to the U.S. Syncs with QuickBooks and Xero.

Free Registration