Sign Up for Square with a Trust ABN
If your entity is a Trust—meaning that you or another person holds property or assets for the benefit of others (beneficiaries) under a Trust structure—you can set up a Square account with the Trust ABN and a copy of your Trust Deed, along with a few other details outlined below.
| Important to note: Your application may take up to 20 business days to review. |
Get Started
Create your Square Account via a web browser on your phone or desktop computer/laptop.
Enter and confirm your email address.
Create a password > Continue.
Fill out your business information, including a valid Trust ABN and Trading Name. Click Continue.
Select Business as the merchant type > Continue.
Fill out details about your business, including a valid Trust ABN and Trading Name. Click Continue.
Fill out your business address > Continue.
Personal Details Required
We are required by banking industry regulations and applicable law to verify the primary account holder(s). Current regulations also require our customers to be at least 18 years of age.
Enter your legal name, home address, date of birth, and valid phone number. Note: This information is used to verify your identity as the account holder.
Select your business role > Continue.
Enter your Medicare, passport or driver's licence number so that we can securely verify your identity.
Note: If your driver’s licence was issued in ACT, NSW, NT, SA, TAS or WA, you must provide both the driver’s licence number and card number as stated on your licence.
Trust Details Required
We are required to collect this information so that you can start taking payments with Square.
Select Upload File to upload your Trust Deed.
Select Yes or No from the drop-down questions regarding your Settlor and Settlement Amount (sometimes also defined as the Settled Sum). Note: This can usually be found on the Schedule Page of your Trust Deed.
Select Continue.
We require your signed Trust Deed and any other amendments to the Deed as appropriate. If you are unable to provide a full copy of the Deed, please provide the Front Page, the Schedule Page(s) and Signature Page(s) of the Trust, to satisfy the list of requirements below.
Ensure the Trust Deed has the following:
- The Trust Deed is signed
- Full name of the Trust
- Full name and address of all Trustees
- Full name of all Beneficiaries or Register of Unit Holders
- Full name of Settlor(s)
- Full name of Appointor/Principal (where applicable)
Note: The Trust Deed must be 25MB or smaller in file size and uploaded in a PDF, JPEG, PNG or TIFF file type.
Not all Trusts have Settlors, but if yours does, we’re required to verify:
- The ‘settlement amount’ is equal to, or greater than $10,000; and
- The settlor is a living person.
The ‘settlement amount’ is generally defined in the Schedule of a Trust Deed, towards the end of the document. During sign up, we’ll ask if your Trust Deed has a Settlor that meets the listed qualifications. If it does, our Account Services team will email you for required documents and further information after the sign up process.
We’ll need to collect information about the Trustee(s) listed on the Trust Deed. There can be one or more Trustees listed on a Trust Deed, and they can be an individual, a company, or, less often, a different entity (such as a partnership or association).
If you enter an individual as a Trustee, we’ll need the following:
- Full Legal Name
- Residential Address
- Date of Birth
Note: If you enter a company as a Trustee, you will need to provide the ACN for the company, and we will verify the shareholders of the company.
For any other entity types listed as Trustees, we’ll need to manually verify them, which may take a little longer. We require further information and documentation about these entities, and once verified, you can start processing payments .
We’ll also need to verify the Appointor(s) or the Unit Holder(s) (as applicable) of your Trust. Similar to how we verify Trustees, these roles can be held by individuals, companies or, in the case of Unit Holder(s), another Trust.
For an individual, please provide:
- Full Legal Name
- Residential Address
- Date of Birth
Note: If the Appointer or Unit Holder is a company, you must provide the ACN for that company, and we will verify its shareholder(s).
If the Appointor or Unit Holder is another Trust, you must upload the Trust Deed for that entity, and we may need to reach out for further information following completion of the sign up process.
If your Trust Deed does not list an Appointor (also sometimes defined as the Principal), we’ll reach out for further information after the sign up process is complete.
Verification of the Settlor
Not all Trusts have Settlors, but if yours does, we’re required to verify the identity of the individual if:
The ‘settlement amount’ is equal to, or greater than $10,000; and
The settlor is a living person.
The ‘settlement amount’ is generally defined in the Schedule of a Trust Deed, towards the end of the document. During sign up, we’ll ask if your Trust Deed has a Settlor that meets the listed qualifications. If it does, our team will email you for required documents and further information after the sign up process.
Verification of the Trustee(s)
We’ll need to collect information about the Trustee(s) listed on the Trust Deed. There can be one or more Trustees listed on a Trust Deed, and they can be an individual, a company, or, less often, a different entity (such as a partnership or association).
If you enter an individual as a Trustee, we’ll need the following:
Full Legal Name
Date of Birth
Residential Address
If you enter a company as a Trustee, we’ll need the following:
Company name
ABN/ACN
Information about the shareholders of your company (including their full name, date of birth and residential address)
If you enter a different entity as a Trustee, we’ll need the following:
Entity name
ABN/ACN (if applicable)
Note: If you enter a company as a Trustee, you will need to provide the ACN for the company, and we will verify the shareholders of the company.
For any other entity types listed as Trustees, we’ll need to manually verify them, which may take a little longer. We require further information and documentation about these entities, and once verified, you can start processing payments.
Verification of the Appointor(s) (if applicable)
We’ll also need to verify the Appointor(s) of your Trust if applicable. Similar to how we verify Trustees, this role can be held by individuals, companies or other entity types.
If the Appointor of your Trust is an individual, we’ll need the following:
Full Legal Name
Date of Birth
Residential Address
If the Appointor of your Trust is any other entity type, we’ll need the entity name and ABN/ACN (if applicable). Further information may be required to verify the required individuals of these entities so you may receive a request following the sign up of your account.
If your Trust Deed does not list an Appointor (also sometimes defined as the Principal), please provide the information of your Trustees and we’ll reach out for further information after the signup process is complete.
Verification of the Unit Holder(s) (if applicable)
If your Trust has Unit Holders, you can indicate this during the signup process and we’ll reach out for further information to verify this role after the signup process is complete.
Frequently Asked Questions
We are required to collect and verify the information of those individuals associated with the Trust to comply with the Anti-Money Laundering and Counter-Terrorism Financing Act of 2006. Learn more about this via the AUSTRAC website.
Some browsers have trouble uploading files to your Square Secure Profile. We suggest using Google Chrome or Firefox. We ask that the file be a maximum size of 25MB and in a support file format (PDF, JPEG, PNG or TIFF). If you still cannot upload files, contact Square Support.
Your application will be in a pending state and your Square Account will not be activated for card processing until all of the required documentation is verified. In the meantime, you can use our software products attached to your account to record cash or other tender types for reporting purposes.
Trust accounts can take up to 20 business days to activate as our Account Services Team manually verifies the information you provide. If you provide all of the requested information up front, it may prevent unnecessary delays.
We will not use this information to conduct a credit check, and we will use the match results to verify your identity under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. Please see our Privacy Policy for more information.
ACN collection is optional for appointers or trustees of a Trust that are companies. Note: We will pre-fill some information based on the ACN provided. Please review the information to make sure it is complete and accurate. Inaccurate information will affect your ability to take payments or receive settlements straight away.
The Account Services Team is reviewing your application and may require further information before your account is approved for card processing. Please check your emails or the Notifcation Centre from your online Square Dashboard to check for any outstanding action items to progress your application.
Learn more on how to activate your Square account via our Sign Up Troubleshooting article.
Please note that this guidance is general in nature and does not constitute legal, tax or any other type of professional advice. If you are unsure about your entity type or where to find the relevant information, we suggest that you consult with a professional.