Business information and payout account

To sell and pay out, the community registers who receives the money, the Business Information, and where the money goes, the payout account. Both go through review. It is the identity check every payment operation requires (the "KYC"): without it, the community can't sell. Setting up monetization, on the other hand, doesn't have to wait: everything can be created as a draft before approval.

#What it's for

#How it works

#The order

#Before approval: everything as a draft

While the Business Information is pending or in review, the community can already set up its whole monetization:

Publishing without approval is refused with: "To publish and start selling, the community needs approved business information. Meanwhile you can create and configure everything as a draft: fill it in under Settings › Business Information and submit it for review." The product stays a draft, and editable. And the checkout refuses any purchase in a community without approval, even for a product that was already Active.

#The notice in Monetization

While the community can't sell yet, the top of Monetization shows a notice with what's going on and the Open Business Information button, which takes you straight to Settings › Business Information (finance sees the notice, without the button). The text changes with the situation:

Once the Business Information is approved, the notice goes away.

#Publishing a product or an option

When you choose the Active status on a product, an option or a plan, the form warns right below the field: "Publishing needs approved business information. Until then, the product is saved as a draft."

• With approval, choosing Active when creating really publishes: the product goes on sale right away.
• Without approval, nothing is lost. The rest of the form is saved, the product stays a Draft, and the form shows The product is still a draft, "Your other changes were saved.", the reason for the refusal and the Open Business Information button. Saving again in the same form updates the draft, without creating a second product.

#The currency of drafts

A draft's price is in the currency of the Business Information's country, in any status (reais for Brazil, euros for Portugal, and so on). Without Business Information, it's in reais.

When you publish, the product's currency must be that of the approved country. If it isn't (for example, the draft was created in reais and the community was approved in Portugal), publishing is refused: "This product is priced in BRL, but the approved business information uses EUR. Adjust the product's currency and price before publishing." The price is never converted automatically.

#The statuses

Editing approved information asks for confirmation (I understand the risks and want to edit). When you save, it goes back to Pending and has to be submitted for review again, and until it's approved again, the community can't sell: the checkout refuses new purchases and payouts are on hold. Products that were Active stay editable. Only edit when you need to, and submit it for review right away.

#Who can

Fill in, submit and edit the Business Information and the account: owner and admin. Uploaded documents are stored privately, and only they can upload them. Finance sees the data without editing it: "Read-only view: the community owner or an admin maintains this information."

#Step by step: Business Information

Role: owner or admin.

1. Settings › Business Information.
2. Choose the Country and the Entity Type: Individual or Corporation.
3. Corporation (Brazil), under Company Information:
   • Company Name, Trading Name, CNPJ;
   • Email, Website;
   • Annual Revenue and Founding Date.
4. Individual: full name, CPF, date of birth and the personal details requested.
5. Address: CEP (postal code), Street, Number, Complement, Neighborhood, City, State and Reference Point.
6. Managing Partners (corporation): Add Partner for each one, with Full Name, CPF, Date of Birth, Mother's Name, Monthly Income, Professional Occupation, whether they are a Self-Declared Legal Representative and the Phone Numbers (area code, number and type).
7. Review and click Submit for Review. If a required field is empty: "Fill in all required fields before submitting for review."
8. Wait: "Your submission will be reviewed within 7 business days."

#Step by step: payout account

Role: owner or admin.

1. Settings › Payout Settings.
2. Under Bank Account Details: Bank, Account Type (Checking Account, Savings Account, Joint Checking Account or Joint Savings Account), Branch and Branch Digit, Account Number and Account Digit, and the holder's CPF/CNPJ and Full Name / Company Name.
3. The account must belong to the same holder as the Business Information: the individual's CPF, or the company's CNPJ.
4. Submit it for approval.

The Transfer Settings (automatic transfers, interval, day and automatic anticipation) appear on the same screen, but payouts are made on request, under Monetization › Dashboard › Request Payout. See Payouts.

#Checking it

Monetization › Payments shows the approved Business Information and Bank Account Details, with the status of each, and the Payout history. Edit in Settings takes you to the forms.

#Example

Escola Excel Ltda wants to sell the Student plan:

1. The admin fills in the Business Information as a Corporation, with the CNPJ, the address and the two managing partners, and submits it for review on a Monday.
2. While she waits, she creates the billing options and the plan, as drafts, and unlocks the spaces for the plan.
3. On Wednesday of the following week, the status changes to Approved, and she publishes the options.
4. She registers the company's checking account, under the same CNPJ, and submits it.
5. Once the account is approved, she opens /pricing with a member account and sees the checkout working.

#Common errors and how to fix them

#Frequently asked questions

Can I set up the plans before approval? Yes. Products, options, plans, add-ons, coupons and downsell offers can be created and edited as drafts. Only publishing and selling wait for approval.

I edited my approved Business Information. Do my sales stop? Yes: it goes back to review, and the checkout refuses new purchases until it's approved again. Submit it for review right after editing.

Can I sell as an individual? Yes. Choose Individual and register an account under your CPF.

Can the account be in someone else's name? No. The account must belong to the Business Information holder.

How long does approval take? Up to 7 business days.

I changed banks. What happens? Edit the account under Payout Settings. It goes through approval again; until then, payouts wait.

Who on the Memberfy team sees this data? Only the people who do the review and financial support. Documents are stored privately.

#In the API

POST /api/business-information and .../submit; without approval, POST .../products/{id}/publish and PUT .../products/{id} with status: ACTIVE return 403, a currency different from the approved one returns 400 (param: currency), and POST /api/checkout returns 403; POST .../payout-settings and .../submit; GET .../payout-settings/prerequisites tells you what is missing to receive money. Documents: POST /api/upload/business/document, owner and admin only. See Business and Payouts.

#Related

• Payouts
• Start selling
• Roles and permissions