Interested in creating a business account with borderless? With all of the benefits that our global payouts system can bring to your business, we want to give some insights on the general setup process. 

Creating a Business Account

Now that your business has made the choice to optimize its global payouts with borderless, how do you get started?

Step 1: Schedule A Demo

To understand the services required for your business to launch, grow or scale, we recommend that you schedule a demo with our experts. They can take your business model and highlight a few services relevant to your business or marketplace. It is an important step in highlighting what would the best integration process and what features to take advantage of.

Step 2: Choose A Subscription

Once you and your account manager have chosen the appropriate services and features for your business, they will recommend a subscription package. We have a few subscription packages such as Starter, Growth, Enterprise and Partner. You can learn more on our Pricing Page.

They will send through an Order Form for your subscription and send through details on setting up your account.

Step 3: Create An Account

Setting up an account is easy and only takes a few minutes. Take a look at the steps below to see how to set up a business account. 

Step 1: Sign up as a business account by clicking here. 

Step 2: Check your inbox and confirm your email. Make sure to check your spam folder if you don’t see anything.  

Step 3: Add your bank account, business information and company officers.

Step 4: Account verification

To ensure your security and the security of others, we need to verify your account. borderless is committed to complying with all applicable laws and regulations to keep your funds safe. For us to release funds to your account, we need to verify your identity. 

The verification process can be easily completed through your account dashboard and we recommend that you complete your full profile: Upload business verification documents such as your Government ID, incorporation documents and more.

How long it takes to verify your account depends on the nature and location of your business. In most cases, account verification only takes 3-5 business days but can sometimes take up to 15 business days. Please remember that the verification process is performed to ensure your security.

Once an account has been verified, you are ready to start making payments!

Which businesses do you support?

During the signup process, our platform will indicate if your business is eligible for an account. Currently, borderless business accounts are available for the following legally supported business types or equivalent:

• Private Limited Liability Company (LLC)
• Limited Partnership (LP)
• Limited Liability Partnership (LLP)
• Corporations (Co.)

The eligibility requirements vary by country, but our platform will help you determine if borderless is right for your business. 

What are the costs?

At borderless, we know that pricing is extremely important for your business. That’s why we value our low costs and transparent pricing. Creating an account is completely free to receive payments. We have no setup fees, no user fees and no hidden fees. Our pricing is simple and customized to fit businesses of all sizes. 

To make payments, we have a monthly fee depending on the subscription of your choice. Talk with a sales representative or schedule a demo to learn which Plan is right for your business. In addition, our standard pricing per transaction applies. For local business-to-business transactions, we have fees as low as 0.1% + 30c with a maximum fee of $15.00 USD. For local business-to-person transactions, we have fees as low as 1% + 30c with a maximum fee of $50.00 USD. International fees vary, however our general fee is 2% +30c with a $30.00 USD cap. For more detailed information and currency conversion, click here. 

Your business can save with borderless. We offer better exchange rates and lower fees than Payoneer, Wise, bill.com, PayPal, Stripe Connect, and other payout solutions.

Conclusion

Let your business thrive with a borderless business account. We make it easy with free account setup, great customer support, and low pricing. Schedule a demo today or create an account. 

If you missed the beginning of our blog series, click here to read how borderless provides solutions for both business and individuals. Also, make sure to check back on our blog for the latest posts!