FAQs

Find answers to our frequently asked questions or contact our customer success team.

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General

How much does it cost to open business account? What fees do you charge?

For current and most up-to-date details about the costs, please refer to our pricing page.

Is GoSolo a bank? How safe is it to use?

GoSolo is not a bank. GoSolo is a technology platform that allows its users access to electronic money business accounts that are supplied by 3rd party providers. 

Electronic Money is not a deposit. The Financial Services Compensation Scheme does not cover electronic money products. No other compensation scheme exists to cover losses from your electronic money account. The funds are held in segregated accounts in accordance with the provisions of the Electronic Money Regulations 2011

Gosolo is the trading name of Gosolo Financial Limited, a company registered in England and Wales (company number 12053066). Our registered office is 128 City Road, London, United Kingdom, EC1V 2NX.

For accounts with sort code 04-29-28, opened before 22/04/2024:

GoSolo Financial Limited is registered with the Financial Conduct Authority as an EMD Agent to distribute or redeem electronic money (Register number 902961). GoSolo operates via our partner, PayrNet Limited, which is authorised by the Financial Conduct Authority (register number 900594) as an Electronic Money Institution. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated. The Card is issued by PayrNet Ltd pursuant to license by Mastercard International Inc. PayrNet Ltd is authorised by Financial Conduct Authority to conduct electronic money service activities under the Electronic Money Regulations 2011 (Ref: 900594). Payrnet Limited is an electronic money institution authorised and regulated by the Financial Conduct Authority with register number 900594. The Financial Services Compensation Scheme does not cover electronic money products. No other compensation scheme exists to cover losses from your electronic money account. Your funds will be held in one or more segregated bank accounts with a regulated third-party credit institution in accordance with the provisions of the Electronic Money Regulations 2011.

For accounts with sort code 04-29-57, opened after 22/04/2024:

Business Accounts are offered by Adyen N.V. which is authorised by the Prudential Regulation Authority and Financial Conduct Authority (reference number: 779800) as an overseas branch of an EEA-credit institution in the UK and is authorised to issue electronic money. The cards are issued by Adyen N.V. pursuant to license by Mastercard International. Business Accounts include issuance of electronic money. Electronic Money is not a deposit. The Financial Services Compensation Scheme does not cover electronic money products. No other compensation scheme exists to cover losses from your electronic money account. Adyen is however subject to stringent capital and liquidity requirements in order to ensure its financial resilience in periods of economic stress.

Can you guarantee that you will get me a UK business account?

GoSolo has its own policy and ultimately makes the final decision, so we cannot guarantee that your application will be successful. If you applied for a paid service and we could not open you an account, we will refund your fees in full, unless the application was fraudulent.

What countries does GoSolo support?

GoSolo offers business accounts only for UK-based and UK-registered companies. We can also register a new company in the UK for you.

Can I open a business account if I don’t have a passport or a driving license?

In order to open a business account, banks are required to verify identity/ies of director(s) of a company. This is done in order to make sure that you are who you say you are. Similarly, GoSolo requires directors of a company to complete ID verification checks. As we are  100% digital, we ask you to complete ID verification online. We currently only accept passport, driving license and identity card as valid ID documents. If you do not have any of these documents, we suggest applying for a business account in one of the UK high-street banks who can accept other ID documents (such as Barclays, Lloyds Bank, HSBC etc.).

Can I set up a business account online?

With GoSolo you can open a business account online as well as register an LTD company. Actually, you get everything you need to start your business and even more. We have web, iOS and Android mobile apps to manage your business account.

Do you have a mobile app?

GoSolo Business Accounts Mobile Apps allow you to manage your account on the go. GoSolo Business Account is available on Web, iOS and Android app.

How quick can I set up a business account?

To open a business account in GoSolo you need 10-15 minutes to pass onboarding and if all is OK you will get a business account the same or the next day.

How do I complain?

We want all of our users to have a fantastic experience when using GoSolo, so when we hear that we have not provided a service to that standard, we want to do all that we can to make things right. You have a few options:

  1. You can send a support request inside the application by clicking on the Contact us button
    GoSolo support
  2. You can send a support request on our website https://gosolo.net/support
  3. You share your thoughts and ideas or vote for future functionality on Submit ideas page.
  4. You can write an email addressed to we@gosolo.net

After you submit your complaint, you will receive an acknowledgement email from us within 7 business days. A member of our team will review your complaint and will respond within a few days. This initial response may offer a resolution or may begin a dialogue in an attempt to reach the best possible outcome.

If we were unable to resolve your issue or our suggested resolution does not satisfy you, you can refer your complaint to the Financial Ombudsman Service. For more details you can visit their website at www.financial-ombudsman.org.uk.

How do I sign in to GoSolo Business Account?

Sign in with the GoSolo Business Account Web app

  1. Open GoSolo web app 'Sign in' page on any web browser https://app.gosolo.net
  2. Enter your email address and password associated with your GoSolo Business Banking account
  3. Once you’ve signed in successfully, you will be redirected to the main dashboard

Sign in with the GoSolo Business Account Mobile apps

  1. Download GoSolo Business Account Mobile apps for iOS or Android
  2. Enter your email address and password associated with your GoSolo Business Account on the 'Sign in' screen
  3. Once you’ve signed in successfully, you will be redirected to the main dashboard

What to do if I don’t receive a text message with a one-time code on my phone?

If you do not receive a text message with a one-time code to your phone, please check:

  • Have you entered your phone number correctly?
  • Is your phone online and able to receive SMS messages?
  • Have you tried to re-send a one-time code by clicking “Re-send code” on the App?
  • Have you allowed at least 60 seconds to pass?

If you’ve checked all of these already and still cannot receive a one-time code, do not hesitate to contact GoSolo customer support via WhatsApp or email.

I want to request a feature

You can send your new feature request to we@gosolo.net. We are happy to improve GoSolo together with our clients.

I forgot my password and need to reset it

If you have forgotten your password and are unable to sign in, navigate to 'Sign in' page either on your Mobile App or Web App:

  • Mobile App: click on “Forgot Password” in the top right corner
  • Web App: click on “Forgot Password” link located below “Password” field

To reset your password, enter the email associated with your GoSolo account and follow the instructions given on the screen. Once you are verified as the owner of the account, you will be prompted to reset your password. You will then be asked to sign in to your account using your new password.

If you still have questions, feel free to send us an email.

Company formation

What do I need to register a Limited company via GoSolo?

Registering a UK Limited company is simple with GoSolo. All you need is the following documents:

  • A valid government-issued photo-ID document (Passport, Driving License, BRP), and
  • Proof of your UK address (council tax, utility bill, bank statement), must be issued in the last three months

Depending on the package of services selected, you might need to pay an extra fee for company formation. Please refer to our Pricing section for the latest details about which services are included in the packages.

We will also automatically open a business account for your new company.

There is detailed information about new Limited company registration in our blog How can I register my company with GoSolo?

What is the share structure for a newly registered company, opened using GoSolo service?

If you register a company via GoSolo, the default share structure is 100 shares for the total value of £100.

All shares issued are non-redeemable and rank equally in terms of each of:

  1. Rights to take part in all approved dividend distributions
  2. Voting rights – each share being entitled to one vote
  3. Rights to participate in any distribution of capital on winding up of the company.

What are the legal documents that I will receive after company formation?

You will receive official (model) Articles of Association and Certificate of Incorporation. These documents are approved by Companies House. They are not apostilled.

Account and card

What do I need to open a GoSolo business account?

Opening a business account is simple with GoSolo. All you need is the following documents:

  • A valid government-issued photo-ID document (Passport, Driving License, BRP), and
  • Proof of your UK address (council tax, utility bill, bank statement), must be issued in the last three months

When will I receive my card?

We currently issue virtual payment cards only. No need to wait as your card will be immediately available to you once you open your business account with us.

Is it easy to open a business account in the UK?

In GoSolo we made the business account opening process as simple as filling a regular form on the web, or even simpler. 

If you live in the United Kingdom you need a valid government-issued photo-ID document (Passport, Driving License, BRP), and proof of your UK address (council tax, utility bill, bank statement).

Can I have multiple business accounts for my businesses?

At this time, you can only have one business account for your business. As part of our future development of the GoSolo app, we are planning to offer multiple business accounts for a single company.

Can I provide other people with access to view my business account?

Multi-User GoSolo Account Access can help you to improve your business operations efficiency by allowing you to grant permissions to other users to access your account, for instance, your accountant or employee. Your account is protected because you do not need to share your credentials or other sensitive information.

You can add up to 2 people to view your GoSolo Business Accounts. People with access to your GoSolo accounts will be able to view your transactions, contacts and invoices history as well as download bank account statements. Once added, you can easily revoke access for those people, who no longer need it.

How can I close my GoSolo account?

Before you can close your GoSolo business account, please check if there’s any money that you owe GoSolo.

If you owe any money to GoSolo, you would need to repay your financial obligations first. After you’ve repaid any money you owe us, any remaining funds on the account will need to be transferred to an alternative account before we can close your account.

If you don’t have any outstanding financial obligations to GoSolo, and you have a positive balance in your GoSolo account, any remaining funds on the account will need to be transferred to an alternative account before we can close your account.

After you completed all of the actions highlighted above, to close your account, please get in touch with us.

After you have contacted us asking to close your account and you have completed all the required payments, you will have a 30-day grace period, when you will no longer be able to make payments but you will still be able to download your bank account statements and invoices. If you change your mind about closing your account during the 30-day grace period, you must notify the GoSolo support team, and your GoSolo access will be restored. After the 30-day grace period, once we've closed your business account, your card won't work and you won't be able to access your account.

Payments

Can I pay internationally or accept payments from abroad?

We are working hard to bring you international payments and currency exchange as soon as possible directly from the GoSolo app, but these features are not available yet.

In the meantime, you can use alternative services such as Payoneer or Paysend or Wise to send payments abroad.

What is the limit on bank account transfers in GoSolo?

Limit on making payments using online banking is £50,000 per transaction. Inbound payments are limited to under £50,000 per transaction.

What is the limit on card transactions in GoSolo?

Card limit is £1000 per transaction, £5000 per day.

Can I pay myself?

GoSolo only opens business accounts, not personal ones. Please bear this in mind, this is not a personal account. 

We recommend that you consult with your accountant on ways how you as an owner or director can get paid from a GoSolo business account. 

What follows may not, under any circumstances, be treated as official advice from us, we do not accept any liabilities.

As a general rule, there are several ways a company can pay its individual owner:

  1. Pay a salary.
  2. Pay a dividend
  3. Lend a loan

Each option requires careful consideration from the tax and legal points of view, especially if the individual is not a UK resident. There is no general rule that can cover all possible scenarios.

How do I deposit cash?

You cannot deposit cash into your GoSolo business account. We are constantly making changes to GoSolo and, if cash deposit is an important feature to you, please let us know here.

Can I connect PayPal / Amazon account?

You can connect your GoSolo account to PayPal and Amazon.

You can connect your account to any service or platform that uses a GBP account & sort code or a debit card.

Do you have Direct Debit on GoSolo accounts?

Direct Debit is not part of the initial GoSolo offering. We are constantly making changes to GoSolo and are going to deliver Direct Debit soon.

How do I deposit cheques?

Currently, it is not possible to deposit cheques to GoSolo accounts. We are constantly making changes to GoSolo and, if cheque deposits is an important feature to you, please let us know here.

Why is the reference field when making a payment only limited to 18 characters?

Reference field is limited to 18 characters when making a Faster Payments transfer due to the current rules and regulations set by the Faster Payments scheme. In other words, this is done in order to standardise the way a payment is recorded between different UK banks.

What is the cash withdrawal limit of GoSolo card?

Cash withdrawal limit is £250 per transaction, £1000 per day.

Invoices

Can I create and send invoices?

Yes. You don't need to figure out what information to include and how the invoice looks. In GoSolo you can issue and email invoices within a simple, guided 3-step process.

How can I chase my client for payment?

You can configure email reminders and GoSolo will send them automatically. You can adjust the date and frequency of reminders for due and overdue invoices.

Can I issue recurring invoices?

We plan to introduce recurring invoices functionality in future versions of the GoSolo application. However, we made sure that raising similar invoices against the same client remained quick and straightforward. You can already duplicate existing invoices in a couple of clicks.

Can I reconcile invoices against the payments received?

When you receive a payment on your GoSolo account, the system will check its reference and amount. If there is a corresponding unpaid invoice, GoSolo will automatically match it with the payment received.

Can I mark invoices as paid?

Yes. Once you receive the payment, you can change the invoice status, marking it as paid in just one click.

How can I make sure that my client received and downloaded an invoice?

GoSolo sends invoices as a webpage where your client can see a preview of the invoice or download the document's PDF. He may also notify you about his acceptance of the payment conditions settled out in the invoice. In GoSolo you can see the exact date and time when your client opens the invoice page, downloads PDF or accepts the invoice.

Multi-company accounts

How do I add another company to my GoSolo account?

To add another company to GoSolo account is very simple:
  1. Check if you already have GoSolo business account. If you haven’t got it yet, you’d need to complete application to open one here.
  2. Sign in to your GoSolo account via Web App i.e. in any web browser.
  3. Navigate to your Profile section (person icon in the top right corner)
  4. Under “Manage companies” section, click on “Add company”
  5. Complete short form to submit your application
  6. Once your application is successful, you will be able to view your new company’s accounts in GoSolo
 

How do I switch to view another company?

To switch views between different companies:
  • In your Mobile App, go to “Other” tab and select a Company you wish to view
  • In your Web App, open side-bar menu and click on drop-down of companies to choose another company, or click on drop-down of companies to choose another company

GoSolo Checkout

What is GoSolo Checkout?

GoSolo Checkout is a handy service that allows you to accept card payments in person and online directly with your business account app. It also has a QR code to pay and pay by link options that create a checkout page for your clients. No app or account is required for customers, making the checkout hassle-free and secure.

What is Tap to Pay?

Tap-to-Pay is a contactless payment method that lets you pay quickly and securely by holding your phone, watch, or credit card near a payment terminal (GoSolo mobile app). It uses near-field communication (NFC) technology to transmit your payment information wirelessly.

Tap-to-Pay is becoming increasingly popular as it's:

  • Fast: No waiting to swipe or insert your card.
  • Secure: Uses one-time codes for transactions.
  • Convenient: Works with various devices like phones, watches, and some contactless cards.

What fees do you charge for GoSolo Checkout?

GoSolo Checkout is available in all GoSolo business account packages.

For current and most up-to-date details about the costs, please refer to our pricing page.

I can't find the GoSolo Checkout onboarding section within the app

Contact our support team if you have any questions. They'll be happy to help!

Is Tap to Pay safe?

"Tap to Pay" is a secure way to make contactless payments. Here's why Tap to Pay is considered safe:

  • One-Time Codes: Instead of transmitting your actual card details, Tap to Pay uses near-field communication (NFC) to send a unique, encrypted code for each transaction. Even if someone intercepts this code, it can't be used for future purchases.
  • Short Range: NFC has a very limited range (usually a few centimeters). 
  • Security Measures: Most mobile wallets and contactless cards require additional security measures like fingerprint or PIN verification before processing payments, adding another layer of protection.

What devices are compatible with Tap to Pay technology?

Tap to Pay on iPhone requires iPhone XS or later running iOS 16.4 or later

 

No answer to your question?

we@gosolo.net
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