Your Spend Account is the wallet that holds your company’s funds for card spending and bill payments.
Who can open the Spend Account
Only the authorised signatory or a Budgetly admin can complete these steps.
Note: If you’re a regular user, you’ll see a message on your Dashboard asking you to wait for the authorised signatory to finish.
How to open your Spend Account
Important: Compliance verification may take a few business days depending on your business type. You’ll be notified once it’s complete.
- Click Choose plan to select your Budgetly plan.
- Complete Verify business details to confirm your business details and ownership.
- Confirm the Authorised signatory and verify their identity.
- If required, download the Letter of Authority (LOA) template and upload a signed copy.
- This step only applies if the authorised signatory is not listed on ASIC or ACNC as a director, treasurer, secretary, or chairperson.
What happens next
Once your Spend Account is open:
- The Funds section appears on your Dashboard showing your balance.
- You can now issue cards to your team.
- You can deposit funds once you’ve verified a bank account.