Banked account structure

Learn about the concepts of Businesses and Applications

As a Merchant, when signing up to Banked, a Business is created for you, which you can access via the Banked Console. Before you are able to perform live payments, your Business must pass Due Diligence by our Compliance Team.

Every Business can have one or more Applications associated with it. An application allows you to logically separate your payments - for example, you may wish to separate your Business into Applications based on geography (e.g. UK and US applications), technology (e.g. web and app applications), or any other criteria that makes sense for you.

Before a Business has passed Due Diligence, you will only have access to a Test Application. Test Applications are scoped to only allow test payments, whereas Live Applications allow live payments.