# Business information and payout account

> The details of who receives the money (individual or company, partners, address) and the bank account, which are reviewed before you can sell and pay out. What you can set up as a draft before approval, what waits for it, fields, timelines, statuses, who can fill them in and the validation errors.

To sell and pay out, the community registers **who receives the money**, the **Business Information**, and **where the money goes**, the **payout account**. Both go through review. It is the identity check every payment operation requires (the "KYC"): without it, the community can't sell. Setting up monetization, on the other hand, doesn't have to wait: everything can be created as a draft before approval.

## What it's for

| Situation | What to register |
|---|---|
| A creator selling a course under her own name | Individual, with her CPF and an account in her name |
| A school with a CNPJ | Corporation, with the CNPJ, the managing partners and a company account |
| An association | Corporation, with the association's CNPJ and the legal representative |

## How it works

### The order

<div class="flow">
<div class="flow-row"><span class="flow-node">Business Information</span><span class="flow-arrow">→</span><span class="flow-node">Submit for Review</span><span class="flow-arrow">→</span><span class="flow-node">Approved</span><span class="flow-arrow">→</span><span class="flow-node">Bank account approved</span><span class="flow-arrow">→</span><span class="flow-node">Sell and pay out</span></div>
</div>

### Before approval: everything as a draft

While the Business Information is pending or in review, the community can already set up its whole monetization:

| Before approval | Depends on approval |
|---|---|
| Create and edit **products** and **billing options**: they start as **Draft** | **Publish** (set to **Active**) a product or an option |
| Create and edit **plans**, **add-ons**, **coupons** and **downsell offers** | **Sell**: checkout, buying an add-on and accepting a downsell offer |
| Unlock spaces for a product or plan | **Pay out** |

Publishing without approval is refused with: *"To publish and start selling, the community needs approved business information. Meanwhile you can create and configure everything as a draft: fill it in under Settings › Business Information and submit it for review."* The product stays a draft, and editable. And the checkout refuses any purchase in a community without approval, even for a product that was already **Active**.

### The notice in Monetization

While the community can't sell yet, the top of **Monetization** shows a notice with what's going on and the **Open Business Information** button, which takes you straight to **Settings › Business Information** (finance sees the notice, without the button). The text changes with the situation:

| Situation | The notice |
|---|---|
| Not submitted yet | **Configure freely; selling needs a review**: *"You can create and configure everything as a draft; to publish and sell, submit your business information for review."* |
| Under review | **Business information under review**, with the *"Expected answer"* date |
| Rejected | **Business information rejected**, with the **Reason:** for the rejection, and the way forward: *"fix your business information and submit it for review again"* |
| Approved, then edited | **Sales suspended** (or **Sales suspended during the new review**, after resubmitting): *"Until it is approved, nothing is sold; you can still configure everything as a draft."* |

Once the Business Information is approved, the notice goes away.

### Publishing a product or an option

When you choose the **Active** status on a product, an option or a plan, the form warns right below the field: *"Publishing needs approved business information. Until then, the product is saved as a draft."*

- **With approval**, choosing **Active** when creating really publishes: the product goes on sale right away.
- **Without approval**, nothing is lost. The rest of the form is saved, the product stays a **Draft**, and the form shows **The product is still a draft**, *"Your other changes were saved."*, the reason for the refusal and the **Open Business Information** button. Saving again in the same form updates the draft, without creating a second product.

### The currency of drafts

A draft's price is in the currency of the Business Information's **country**, in any status (reais for Brazil, euros for Portugal, and so on). Without Business Information, it's in reais.

When you publish, the product's currency must be that of the **approved** country. If it isn't (for example, the draft was created in reais and the community was approved in Portugal), publishing is refused: *"This product is priced in BRL, but the approved business information uses EUR. Adjust the product's currency and price before publishing."* The price is never converted automatically.

### The statuses

| Status | Meaning | Can it be edited? |
|---|---|---|
| **Pending** | Still to be filled in or submitted | Yes |
| **In Review** | Submitted. Review takes **up to 7 business days** | No: *"Fields are locked during review."* |
| **Rejected** | Something needs fixing | Yes, then resubmit |
| **Approved** | Ready to receive money | Yes, but editing requires a new approval |

Editing approved information asks for confirmation (**I understand the risks and want to edit**). When you save, it goes back to **Pending** and has to be submitted for review again, and **until it's approved again, the community can't sell**: the checkout refuses new purchases and payouts are on hold. Products that were **Active** stay editable. Only edit when you need to, and submit it for review right away.

### Who can

Fill in, submit and edit the Business Information and the account: **owner** and **admin**. Uploaded documents are stored privately, and only they can upload them. **Finance** sees the data without editing it: *"Read-only view: the community owner or an admin maintains this information."*

## Step by step: Business Information

*Role: owner or admin.*

1. **Settings › Business Information**.
2. Choose the **Country** and the **Entity Type**: **Individual** or **Corporation**.
3. **Corporation (Brazil)**, under **Company Information**:
   - **Company Name**, **Trading Name**, CNPJ;
   - **Email**, **Website**;
   - **Annual Revenue** and **Founding Date**.
4. **Individual**: full name, CPF, date of birth and the personal details requested.
5. **Address**: **CEP** (postal code), **Street**, **Number**, **Complement**, **Neighborhood**, **City**, **State** and **Reference Point**.
6. **Managing Partners** (corporation): **Add Partner** for each one, with **Full Name**, CPF, **Date of Birth**, **Mother's Name**, **Monthly Income**, **Professional Occupation**, whether they are a **Self-Declared Legal Representative** and the **Phone Numbers** (area code, number and type).
7. Review and click **Submit for Review**. If a required field is empty: *"Fill in all required fields before submitting for review."*
8. Wait: *"Your submission will be reviewed within 7 business days."*

## Step by step: payout account

*Role: owner or admin.*

1. **Settings › Payout Settings**.
2. Under **Bank Account Details**: **Bank**, **Account Type** (Checking Account, Savings Account, Joint Checking Account or Joint Savings Account), **Branch** and **Branch Digit**, **Account Number** and **Account Digit**, and the holder's **CPF/CNPJ** and **Full Name / Company Name**.
3. The account must belong to the **same holder** as the Business Information: the individual's CPF, or the company's CNPJ.
4. Submit it for approval.

The **Transfer Settings** (automatic transfers, interval, day and automatic anticipation) appear on the same screen, but payouts are made on request, under **Monetization › Dashboard › Request Payout**. See [Payouts](/pagamentos/saque).

## Checking it

**Monetization › Payments** shows the approved **Business Information** and **Bank Account Details**, with the status of each, and the **Payout history**. **Edit in Settings** takes you to the forms.

## Example

*Escola Excel Ltda* wants to sell the Student plan:

1. The admin fills in the Business Information as a **Corporation**, with the CNPJ, the address and the two managing partners, and submits it for review on a Monday.
2. While she waits, she creates the billing options and the plan, as drafts, and unlocks the spaces for the plan.
3. On Wednesday of the following week, the status changes to **Approved**, and she publishes the options.
4. She registers the company's checking account, under the same CNPJ, and submits it.
5. Once the account is approved, she opens `/pricing` with a member account and sees the checkout working.

## Common errors and how to fix them

| Message | What to do |
|---|---|
| *Invalid CPF* / *Invalid CNPJ* | Check the digits |
| *Invalid CEP (postal code)* | Use all 8 digits of the CEP |
| *Invalid phone number format* | Area code and number in separate fields |
| *Invalid bank code* | Pick the bank from the list |
| *Invalid branch number* / *Invalid branch verification digit* | Check the branch and its digit (use 0 if the bank has no digit) |
| *Invalid account number* / *Invalid account verification digit* | Check the account and its digit |
| *Cannot edit business information with status IN_REVIEW* | Wait for the review to finish |
| *Business Information Rejected* | Review what was flagged and resubmit |
| *To publish and start selling, the community needs approved business information…* | Submit the Business Information for review and publish after it's approved. Until then, the product stays a draft |
| *This product is priced in …, but the approved business information uses …* | Adjust the product's currency and price to the approved country's currency, and publish |
| *Community must have approved business information to enable paid products* (at checkout) | The Business Information isn't approved, or it was edited and went back to review: submit it and wait for approval |
| *Payment configuration has not been set up for this community* (at checkout) | Finish the payout account and get it approved |

## Frequently asked questions

**Can I set up the plans before approval?**
Yes. Products, options, plans, add-ons, coupons and downsell offers can be created and edited as drafts. Only publishing and selling wait for approval.

**I edited my approved Business Information. Do my sales stop?**
Yes: it goes back to review, and the checkout refuses new purchases until it's approved again. Submit it for review right after editing.

**Can I sell as an individual?**
Yes. Choose **Individual** and register an account under your CPF.

**Can the account be in someone else's name?**
No. The account must belong to the Business Information holder.

**How long does approval take?**
Up to 7 business days.

**I changed banks. What happens?**
Edit the account under **Payout Settings**. It goes through approval again; until then, payouts wait.

**Who on the Memberfy team sees this data?**
Only the people who do the review and financial support. Documents are stored privately.

## In the API

`POST /api/business-information` and `.../submit`; without approval, `POST .../products/{id}/publish` and `PUT .../products/{id}` with `status: ACTIVE` return 403, a currency different from the approved one returns 400 (`param: currency`), and `POST /api/checkout` returns 403; `POST .../payout-settings` and `.../submit`; `GET .../payout-settings/prerequisites` tells you what is missing to receive money. Documents: `POST /api/upload/business/document`, owner and admin only. See [Business](/api/referencia/business) and [Payouts](/api/referencia/payouts).

## Related

- [Payouts](/pagamentos/saque)
- [Start selling](/primeiros-passos/comece-a-vender)
- [Roles and permissions](/conceitos/papeis-e-permissoes)