The information in this article applies to restaurants based in Ireland, Canada, and the U.K. Customers based in the U.S. can check out Complete Your Toast Business Setup Tasks instead.
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Business Setup Overview
After signing your Toast contract, you must complete the business setup process to verify owner and business details and bank information to go live with Toast and receive payouts to your account. This process is also known as KYC, or “Know Your Customer”.
You can access these tasks by logging in to Toast Web and selecting the Business Setup task on your Setup Checklist in the bottom right-hand corner of the screen.
All three business setup steps (company details, bank details, business owner details) should be completed within three days of signing your Toast contract. Once you complete each section, the main business setup page will show a status of “In Review”. After your information has been verified, the status will change from “In Review” to “Verified”.
Delays in completing these tasks could impact your onboarding time, and may affect your go-live date.
Note: If you have any questions, please reach out to your Toast Sales representative.
Required Documents and Information
The following information will be collected during the business setup process. It’s important to ensure that the information is entered exactly as it appears on your documents, with correct punctuation. Any edit or update made to these details will restart the verification process.
Company details:
Company registration document (document should be valid, issued within the last 12 months, and should contain the business number)
Legal business name (must be the same as in the registration document)
Trading name (if different from legal business name)
Company number (8-digit for Ireland and the UK, 9-digit for Canada)
Value added tax identification number (VAT) (unless exempted from VAT)
Business address
Parent company address (if applicable)
Bank details: In this step, you’ll have the option to log in to your online banking provider to validate your bank information. No documents are required for this method of instant bank verification.
If you wish to manually verify your bank information, you’ll need a voided cheque or bank statement showing the legal business or owner name, address, account number/IBAN, and BIC/SWIFT code. Bank statements must be dated, and should not be older than one year. Voided cheques should have printed information with a bank stamp or bank details printed on them. Handwritten information is not accepted for compliance reasons.
Note: If you are a sole proprietor and you don’t have a business bank account, please submit a letter from your bank stating that you control the bank account provided.
Business owners details: For this step, you’ll need to upload identification documentation to verify the identity of all business decision-makers, either automatically or manually. To do that, you’ll need the following documents and information:
Clear image of Owner’s picture ID (passport, identity card, or front and back of driver’s license)
Role - Signatory, Owner, and Controller (Controller details are also required if not the same as the owner)
For restaurants in Canada, the Director role is mandatory. This can be the same person that is listed for one of the other business roles.
Job title
Name (same as shown in picture ID)
Email address
Phone number
Date of birth
Country of residence
Address
If you have any questions, please reach out to your Toast Sales representative.