This guide covers:
Which types of legal structure Adfin can onboard
Which industries Adfin works with
Introduction
Providing payments is a regulated service, in order for Adfin to onboard your business with our service providers, we have to collect information on your business and share it with them.
Our partners will then complete KYC (Know Your Customer) and AML (Anti Money Laundering) checks on your business. Once approved, you can start accepting payments with Adfin.
Due to regulatory constraints, only certain types of business and industries can be onboarded.
Supported legal structures
Currently, Adfin can onboard businesses that are a:
Sole trader: You're a registered sole trader, and you use a bank account in your name or sole trader's name.
Company: Your business is registered as a separate legal entity from its owners. Supported company types include:
Private company: Your company is owned privately and not traded on a public stock exchange.
For example: private limited company (Ltd), limited liability company (LLC), private limited by guarantee.
Public company: Your company is traded on a public stock exchange, and has to disclose financial information to the public regularly.
For example: public limited company (PLC).
Non-profit or charitable organisation: Your organisation has official non-profit or tax-exempt status.
For example: charitable incorporated organisation (CIO), community interest company (CIC), charitable incorporated association (CIO).
Governmental organisation: Your organization is owned by the government or state.
For example: public corporations, executive agency, non-departmental public body.
Partnership or association: You're an individual or company, and you use a bank account in the name of a partnership, or association.
For example: limited liability partnership (LLP), Scottish limited partnership (SLP), co-operative.
Adfin is also working to enable onboarding for unincorporated partnerships.
Please contact us at support@adfin.com if you have a company type that is not supported.
Supported industries
During onboarding, we'll ask you to select which industry your company works in. Currently, Adfin only works in low risk industries and so cannot work with all businesses.
Please see a full breakdown of the current industries we support below. We are continually reviewing the industries we serve - if your industry is not listed, please contact us at support@adfin.com.
Industry type | Industry |
Professional services | Accounting, auditing, and bookkeeping services |
Professional services | Architectural, engineering, and surveying services |
Professional services | Business services (not elsewhere classified) |
Professional services | Detective agencies, protective services, and security services |
Professional services | Equipment, tool, furniture, and appliance rental and leasing |
Professional services | Legal services and attorneys |
Professional services | Professional sevices (not elsewhere classified) |
Animal care and agriculture | Agricultural co-operatives |
Animal care and agriculture | Landscaping and horticultural services |
Animal care and agriculture | Veterinary services |
Arts and entertainment | Art dealers and galleries |
Automotive and hardware sales | Automotive parts and accessories stores |
Automotive and hardware sales | Automotive tire stores |
Automotive and hardware sales | Car and truck dealers (new and used) -- sales, service, repairs, parts, and leasing |
Automotive and hardware sales | Car and truck dealers (used only) -- sales, service, repairs, parts, and leasing |
Automotive and hardware sales | Motor vehicle supplies and new parts |
Automotive and hardware sales | Hardware equipment and supplies |
Automotive and hardware sales | Hardware stores |
Automotive and hardware sales | Home supply warehouse stores |
Automotive and hardware sales | Medical, dental, ophthalmic, and hospital equipment and supplies |
Automotive and hardware sales | Men's and women's clothing stores |
Automotive and hardware sales | Shoe stores |
Child care | Child care services |
Cleaning | Cleaning, maintenance, and janitorial services |
Cleaning | Exterminating and disinfecting services |
Construction | Carpentry contractors |
Construction | Asphalt, cement, and concrete work contractors |
Construction | Electrical contractors |
Construction | General contractors -- residential & commercial |
Construction | Glass, paint, and wallpaper stores |
Construction | Heating, plumbing, and air conditioning contractors |
Construction | Lumber and building materials stores |
Construction | Masonry, stonework, tile setting, plastering & insulation contractors |
Construction | Plumbing and heating equipment and supplies |
Construction | Roofing, siding, and sheet metal work contractors |
Construction | Special trade contractors (not elsewhere classified) |
Education | Business and secretarial schools |
Education | Colleges, universities, professional schools, and junior colleges |
Education | Correspondence schools |
Education | Elementary and secondary schools |
Education | Schools and educational services (not elsewhere classified) |
Education | Vocational and trade schools |
Healthcare | Chiropractors |
Healthcare | Dentists and orthodontists |
Healthcare | Doctors and physicians (not elsewhere classified) |
Healthcare | Hospitals |
Healthcare | Medical and dental laboratories |
Healthcare | Medical services and health practitioners (not elsewhere classified) |
Healthcare | Nursing and personal care facilities |
Healthcare | Opticians, optical goods, and eyeglasses |
Healthcare | Optometrists and ophthalmologists |
Healthcare | Osteopaths |
Healthcare | Podiatrists and chiropodists |
Information and communication | Computer maintenance, repair, and services (not elsewhere classified) |
Information and communication | Computer network / information services |
Information and communication | Computer programming, data processing, and integrated systems design services |
Information and communication | Digital goods -- software applications (excluding games) |
Information and communication | Digital goods -- books, movies, music, and NFTs |
Manufacturing | Durable goods (not elsewhere classified) |
Manufacturing | Industrial supplies (not elsewhere classified) |
Manufacturing | Miscellaneous publishing and printing |
Manufacturing | Paint, varnishes, and supplies |
Manufacturing | Precious stones, metals, watches, and jewelry |
Manufacturing | Specialty cleaning, polishing, & sanitation preparations |
Manufacturing | Typesetting, plate making, and related services |
Other services | Antique shops -- sales, repairs, and restoration services |
Other services | Bicycle shops -- sales and service |
Other services | Carpet and upholstery cleaning |
Other services | Florist supplies, nursery stock, and flowers |
Other services | Health and beauty spas |
Other services | Membership organizations (not elsewhere classified) |
Other services | Miscellaneous general merchandise |
Other services | Miscellaneous personal services (not elsewhere classified) |
Other services | Nurseries and lawn and garden supply stores |
Property management | Real estate agents and managers -- rentals |
Retail of alcohol | Package stores -- beer, wine, and liquor |
Transport | Marinas, marine service, and supplies |
Transport | Taxicabs and limousines |
Utilities | Utilities -- electric, gas, heating oil, sanitary, water |