While setting up your Talo Payments account, you’ll be asked to choose an account type based on how you run your business. In most cases, you’ll select either an individual account or a business account.
Individual accounts
Choose this option if you operate as an individual. This is usually the right choice if you don’t have an EIN or any official company registration.
Payouts are sent to your personal bank account. During setup, the name on your Talo Payments account must match the name on the bank account.
Example: If your Talo Payments account shows “Lisa Jones” but the bank account says “Lisa’s Cakes,” the transfer will fail.
Before opening an individual Talo Payments account, make sure you meet the following:
Identification: A valid, non-expired passport, driver’s license, or government-issued ID.
Address: A physical address is required. PO boxes aren’t accepted.
Business description: Add a short description of the products or services you offer.
Bank details: The bank account must be a personal account under your name.
Business accounts
Choose this account type if you operate as a legally registered company (Partnership, LLC, Corporation, NGO*, etc.).
Payouts are sent to your business bank account. Before creating a business Talo Payments account, you must have:
Business documents: An EIN or your country’s required company registration number. All information must match your official documents.
Company address: A physical business address. PO boxes aren’t accepted.
Bank details: A business bank account under the company’s legal name. Personal accounts can’t be used.
Account representative: You must add at least one business owner or authorized representative. All listed individuals must upload valid ID for verification.
Using a DBA (Doing Business As)?
Choose the account type that matches your bank account.
For example, if payouts go to a personal account, set up an individual Talo Payments account.
After approval, add your DBA in your statement descriptor so banks recognize your payout name.
Regional account types
Some locations have additional account options when setting up Talo Payments.
Current regional variations include:
Sole proprietor (United Kingdom): Must provide a UTR number, valid ID, business bank details, and a physical address.
Sole proprietor (Italy): Must provide a codice fiscale, valid ID, bank details, and a physical address.
Sole proprietor (Switzerland): May provide a BID/UID number, plus ID, bank details, and a physical address.
Partnership / Association (Germany): May submit a Handelsregisternummer, plus business bank details and a physical address.
Partnership (Austria): May submit a Firmenbuchnummer, with business bank details and a physical address.
Association (Austria): May provide a Zentrales Vereinsregister Zahl, with business bank details and a physical address.
Corporation (Canada): Must upload a CRA Business Number, business bank details, a physical address, and a list of directors.
Corporation (Netherlands): Must provide a KvK Business Number, business bank details, a physical address, and a director list.
Account differences
The table below shows the main requirements for each account type:
Requirements | Individual | Business | Italy Sole Prop | UK Sole Prop | Switzerland Sole Prop | Germany Partnership / Assoc | Austria Partnership / Assoc | Canada Corp | Netherlands Corp |
Minimum age of 18 | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
Personal documents | Yes | Yes | Yes | Yes | Yes | No | No | Yes | Yes |
Business documents | No | Yes | Yes | Yes | Yes, if available | Yes, if available | Yes, if available | Yes | Yes |
Personal bank account | Yes | No | Yes (or business) | No | Yes (or business) | No | No | No | No |
Business bank account | No | Yes | Yes (or personal) | Yes | Yes (or personal) | Yes | Yes | Yes | Yes |
Physical address | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
Premium or Studio plan | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
Company registration / EIN | No | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
Business description | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
Account representative | No | Yes | No | Yes | No | Yes | Yes | Yes | Yes |
Sometimes additional details or documents may be requested to finish verifying your account. If that happens, we’ll contact you.
FAQs
How do I upload documents to Talo Payments?
Follow the guidelines for uploading documents to Talo Payments.
What if my account info doesn’t match my documents?
Your details must match the documents you submit. If they don’t, verification will fail and payouts may be paused.