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Underwriting Help Guide

Payment Processing Set-Up

 

Getting Started

This document outlines the basic steps and common questions when setting up your payment processing with EVPay by Elevia.

Begin by completing the application here: https://form.jotform.com/ingage/adv-merchant-profile 

Our encrypted form allows us to collect the information and documentation required to create your account for ACH and Credit Card processing. We will be opening a joint ACH and Card payment account, regardless of which types of payments you plan to accept through EVPay. 

Important Things to Know

Signer Social Security Number (SSN) 

A Social Security Number (SSN) is required by law to confirm a signer’s identity when opening a merchant account. Regulations under the USA PATRIOT Act (Anti-Money Laundering Programs) mandate this to prevent fraud, money laundering, and terrorism financing. If you prefer not to provide your SSN, another authorized individual in your organization may sign. Additionally, any shareholder with 25% or more equity must be listed as a beneficial owner. 

 

25% Equity Partners Must be Listed

In addition, all shareholders with a 25% or greater equity stake will be required to have their information listed as a “beneficial owner” of the organization. This too, is a requirement under Anti-Money Laundering regulations to ensure financial institutions can identity persons who may be able to send or receive large sums of money through an organization. 

 

Document Checklist
  • Signer’s Driver’s License
  • Voided Check
  • 3 Months Bank Statements
  • 2 Months Recent Credit  Card Processing Statements (these are your statements for accepting card payment, not from spending on a company credit card)
  • 2 Years Audited Financials or Tax Returns
  • Articles of Incorporation
  • DBA Certification (if applicable)
  • W-9 Form 

Additional Information Required

  • General Business Info (EIN, tax filing name, address, etc.)
  • Owner Information  (name, email, home address, SSN, etc.)
  • Sales Volume (by payment type: Card and ACH)
  • Transaction Counts (by payment type: Card and ACH)
  • Customer Service Practices (contact information and refund policy)

 

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