For many startup founders, the biggest challenge with running their business is dealing with banks, from wasting hours applying for accounts to waiting months to get approved for business credit cards. They have to visit branches in person, fill out stacks of paperwork, and often get rejected anyway.

We at Tribal set out to solve those struggles by accelerating and simplifying the application and approval process, providing easier access to the financial tools you need.

To help you determine if Tribal is a good fit for your business, we’ve put together this guide. Here is everything you need to know about the Tribal application process.

Who is eligible for a Tribal account?

Tribal is designed specifically for startups and growing SMEs of all stages and sizes who need a simpler way to access financial services and a better way to pay business expenses.

Tribal currently serves customers based in North America, Latin America, the Middle East, and Southeast Asia, but we have customers located around the world in a multitude of industries and sectors. There are no specific requirements for where your company must be incorporated, but companies must be legally registered in order to qualify.

What are your credit decisions based on?

Our proprietary algorithm scores and underwrites startups in seconds and assesses the founders’ backgrounds, funding and quality of investors, revenues, and business prospects. Our credit decisions are not just based on a company’s past, as many growing companies don’t have credit history yet, but we also take into consideration its potential for growth.    

How does the sign up process work?

For existing companies, the Tribal account opening process is 100% digital. We first ask you to fill out our sign up form. The application process typically takes less than 10 minutes. All you need to do is complete a brief online questionnaire about your company operations, founders and sources of funding.

The person who completes the application needs to be part of the executive team or an employee authorized to initiate the application on behalf of the company.  

In some cases, we may follow up and request company bank statements or additional financial or corporate information.  

Once your application is received, it may take up to 48 hours for us to verify your business and send an approval decision or request additional information. Completing the application in full with all required documents goes a long way in helping us accelerate your approval process.

What documents do I need to provide to complete my sign up process?

Tribal may require customer identification and verification to comply with financial regulations, depending on the requirements of our bank partners. In some cases, we might require documents for verification, such as bank financial statements, utility bills and/or business registration.

We are working hard to make the sign up process simpler and easier by providing safe and secure API integrations that enable seamless sharing of financial and corporate information, such as financial statements, revenue accounts, and tax documents.  

How long does the approval process take?

Normal banks can take months to approve an application. With Tribal, the time to reach an approval decision can be as fast as one hour, but usually within 48 hours after submitting all required documents. The review process can only begin once the application has been completed in full. If we need to follow up for additional information to complete your application, the process may take longer than the typical turnaround times. Once approved, you can immediately activate your account, invite your team, create your cards, and start transacting.

Can I get approval for a Tribal account in less than 48 hours?

Yes. The approval decision can be as fast as one hour, but usually approval takes 48 hours after submitting all required documents.

How long does it take for my card to be ready?

Virtual cards will be ready to use immediately upon being approved for a Tribal account and logging into your online account. The physical card will be shipped from the U.S. Arrival time for the physical card depends on the ship-to country.

What are the fees for using Tribal?

There is no cost to open a Tribal account, and currently, we don’t charge any interest or foreign transaction fees. With Tribal, you'll never have to worry about hidden fees.

You might be wondering how we make money then. Tribal generates revenues from the interchange fee that is paid by the merchant whenever you use your Tribal card. The fee is split between the card network and the merchant's bank, and we get a share of that.

‍

Ready to sign up? Join us now and let us power your startup growth.