When you come to Online Payments to register, you will first come to a step asking to verify your account. If your account is verified, you can go straight to setting up Online Payments.
Note! You are able to set up an Online Payments account only if you are connected with the landlord or property manager and their Online Payments account is verified.
You can set up one of the following two types of accounts in Online Payments:
Individual for personal and sole proprietorship;
Business for companies, LLCs, and partnerships.
Note! ACH Payments are available only for US customers.
BUSINESS ACCOUNT
The business account requires entering identifying business information and providing data about the business’s control, including all owners who, directly or indirectly, own 25% or more of the equity interests in the company.
To set up a Business account, go to the main Settings menu:
Click on the “Set up” link in the "Online payments” section:
Select Business Account as the type and continue entering basic information:
You will be asked to enter the legal business name, EIN, phone number, and address of your company:
A representative is an individual with significant control or authority over a company or corporate entity.
This includes roles such as:
CEO
CFO
General Partner
President
Or any individual who manages, directs, or controls the company
Note! A company may have more than one controller, but only one needs to provide verification information.
Information Required for Verification
The designated controller must be fully identity verified. This includes providing:
Job title and role
Phone number
Last four digits of SSN
Date of birth
Home address
This information is collected strictly for identity verification purposes.
Who Is Considered a Business Owner?
A business owner is any individual who:
Directly or indirectly owns 25% or more of the company's equity interests.
Multiple owners may need to be reported if each owns 25% or more.
Information Required for Each Owner
Each qualifying business owner must provide the following:
Job title and role
Phone number
Last four digits of SSN
Date of birth
Home address
This information is required for identity verification and compliance purposes.
Businesses that are not exempt from beneficial owner requirements and need to submit beneficial owner information include:
Corporations
LLC’s
Partnerships
Business types that are classified in one of the categories below are exempt from beneficial owner requirements. However, the individual creating the business account will still be required to explicitly certify there are no owners to attest to the exemption:
Non-profits
Public corporations
If your business is exempt, or if there is no individual with at least 25% ownership, you can skip this step and move on to the next one.
In the last step, you will want to add a bank account. You can add a bank account using the Manual verification method.
For Manual verification, you will need to add your Routing and Account numbers, as well as an Account name and Holder name.
Two small deposits will be sent automatically to the funding source for this purpose. These deposits take 1-2 business days to appear on the customer’s online statement.
When accepting these amounts, you will need to enter the deposits in Online Payments > Bank Account tab > verify (three dots menu next to the bank account name) to verify your bank account.
The verification process may take some time.
Note! If a bank account is not verified 10 days after you have added it, it will be removed automatically. You will need to re-add a bank account.