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How to open a Shakepay business account
How to open a Shakepay business account

Business account creation has been temporarily disabled

Updated over a week ago

Here are the steps to create a Shakepay account for business:

Important note: business account creation has been temporarily disabled while we make some updates.

1. Click the "Sign up" button on the Shakepay website.

2. Select "Business Account" when you are asked what type of account you would like to create.

3. Enter a Canadian mobile number.

Note: This number is used for authenticating your Shakepay account via two-factor authentication and does not have to be the business contact number. We'll be asking for a contact number in the following step.

4. Enter your company information.

5. If you are registered with FINTRAC or Revenu Québec, please check the box.

Note: If you don't know what this is, you can keep it unchecked.

6. Upload your organization documents following the instructions on the page. Please refer to the documents required to verify your business account section below (insert link).

7. We will review your submission within 7 days.

Opening both a personal and a business account:

Customers can open both a personal and a business account.

If you already have a personal Shakepay account, you will be able to use the same phone number for both a personal and business account. However, your business account will require a different email address.

Note: Personal accounts and business accounts are entirely separate, you’ll need to go through the business account signup flow. This also means business accounts cannot be submitted to your personal account for review.

Here’s a list of Canadian organization types that are able to create a Shakepay business account:

  • Corporations

  • Partnerships

  • Trusts

  • Non-profit organizations

  • Sole proprietorships

What organization types are unable to open a business account?

Unfortunately, Money Services Businesses (MSBs) can't open Shakepay business accounts.

Documents to verify your business account

To get your business account verified, here’s more information on the documents we need to receive from you.

Important: Please make sure that all the documents are uploaded in .PDF format.

  • Articles of Incorporation or Proof of Existence

    • This is where you can upload a document that shows the existence of your business.

    • You can upload a provincial or federal document that proves the presence of your business. For an incorporation, submit your Articles of Incorporation, for a partnership, submit the Partnership Agreement, for a not-for-profit, the Articles of Association, for a Trust, the Trust Charter or Ledger, and Statement of Registration, Sole Proprietorship or Master Business License for Sole Proprietorships.

    • You can also provide us a copy of your most recent copy of Notice of Assessment for your Proof of Existence.

  • Board Resolution

    • It is a written statement signed by the board of directors of a company detailing a binding corporate action.

    • Please use the template provided by Shakepay. You can find the Board Resolution template at the bottom of this page.

    • All shareholders must sign this document.

    • Filling and signing the board resolution can be done on the page to upload your documents, and will acknowledge that you have the power to open an account with Shakepay.

  • Proof of Address

    • For Proof of Address, we accept the following documents: phone bill, utility bill, lease, credit card or bank statements confirming the address of the organization issued in the past 30 days.

      • Note: We do not accept void cheques for Proof of Address submissions.

  • Director’s Identification

    • You can upload either a valid Passport or Driver’s License (front and back) of the company director.

    • All shareholders must be residents of Canada for tax purposes.

  • Shareholder Structure

    • You will need to upload a document showing the percentage ownership of shares, signed by all shareholders.

    • Optional: You can use the template provided by Shakepay. You can find the Shareholder Structure template at the bottom of this page.

Once you have all the documents you can upload them via the Shakepay website on our document submission page.

For any business account related questions, you can reach out to us in the in-app support chat.

Board Resolution and Shareholder Structure Templates

Please use the templates linked below to submit your Board Resolution and Shareholder Structure documents.

These templates are also linked directly in the sign-up flow.

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