In order to accept donations and process transactions with Payments, you'll need to provide several pieces of information about your organization and submit them for underwriting. (Which isn't as painful as that term may sound!) You can use this handy guide to help when navigating the process.
Once you click to begin the setup process, you'll be taken to the application portal.
The application has several steps, which you'll be walked through one at a time.
Note: The application should be completed by your controller or CFO. Payments accounts are tied to a specific user, who should be the person responsible for managing your organization's bank account.
To start, you'll be asked to create a password for your application. While you should never need it, it's always a good idea to save your password somewhere secure, just in case.
Once you've created your password, you'll move on to the first step of the application, providing information on your organization. You'll see each application step laid out on the left to let you know where you are in the process.
Enter all of the information for your organization and then click to continue.
On this stage, you'll be asked for specific financial information, including estimates of your credit card processing volume.
It's important to be as accurate as possible, as the values provided will affect your ability to process transactions.
For example, let's say that you enter an Annual Gross CC Revenue value of $75,000 and set the Largest CC Transaction Size as $20,000. Then, if a donor attempts to make a $25,000 donation via their credit card, that transaction will not be able to process, as it exceeds your transaction maximum.
However, if you set your Annual Gross CC Revenue at $75,000 and enter $75,000 for your Largest CC Transaction Size, then your application may take longer to approve, and our team may need to coordinate with you on setting the correct processing thresholds; you wouldn't be able to process a transaction that equals your total annual revenue.
As you complete this part of the application, you'll see that there is an option to autofill ACH revenue fields based on the values you enter for credit card transactions. If you know that you have significantly more ACH volume, feel free to uncheck the box for this option and then enter your revenue values.
Once you've entered all of your information, click to continue.
In this step, you'll need to provide some specific data about the Individual completing the application, which is why it is vital to have your CFO or Controller or whoever manages your bank account complete the application. Required data does include the date of birth and social security number for the individual tied to your account.
Note: SSN and DOB are requirements of the PATRIOT Act. All financial institutions operating in the United States are subject to this requirement.
You'll also need to provide the bank account information to be used for depositing your funds. Note that you do have the option of providing a separate account for fees and charges. Once you've entered all of your information, click to continue.
Use this step to provide any documentation relevant to your application. There is no initial requirement for providing documentation, but if needed, you may be asked to provide additional materials once your application is reviewed.
Once you are ready, click to continue and review your application.
Finally, you'll be able to review all of the information you have provided. Make sure you haven't skipped any fields and that all of the information you have provided is correct and accurate. Check the boxes near the bottom of the screen to accept the terms and then click to submit your application.
Now You Wait
Once you've submitted your application, it can take up to a few days to receive a response. When you access the Giving admin page, you'll see the status of your application and a link to view your application in the portal.
In cases where additional information may be needed in order for your application to be approved, you will receive an email with a link to view updates on the Giving admin page.
Once your application is approved, you will receive an email notification and then you'll be ready to get started with accepting online donations!
Now, it's time to create your giving form and learn about managing transactions.