Last update 27 August 2025
Welcome and thanks for being an early part of Teams! We’re going to cover a few terms and principles upon which the product is built: Team, User, and Account.
This is the primary organizational unit the product is built around. With the exception of your own personal settings (more on that below), everything you see in the app—accounts, balances, transactions, bank info, etc—is scoped to the Team you’re currently viewing. You can see which Team you’re viewing in team selector in the top left.
Since you can be part of multiple teams, we recommend creating a new team for each entity you intend to manage within Teams. You can create a new team by clicking on the team selector in the top left and selecting “Create a team”.
We think of each Team as being it’s own entity, since it’s designed to group people together within a shared workspace. Additionally, in order to turn on features like on/offramps and compliant payments, you need to complete legal entity verification (i.e., KYB or KYC) and each Team can only have one legal entity verified.
For example, Alice is a member of both Splits Labs Team and her own personal Team. Splits Labs and Alice have different tax identification numbers (EIN and SSN, respectively), and therefore each has a distinct Team within the product. Although you don’t need a tax identification number to use Teams, we think it’s a helpful litmus test for whether a separate Team is needed.
A litmus test to help decide when to create a new Team vs use an existing one is, “who are the owners of this Team?” If the owners are the same, it probably makes sense to use the existing Team. If they’re different, it’s probably worth creating a new one. This is relevant when it comes to Recovery. See Can I change Recovery signers? for more.
This is how you, as an individual, interface with each Team you’re part of. A User authenticates using email and can be part of multiple Teams. Each User can save passkeys. These passkeys can then become signers on Accounts.