Even though we have a special relationship with CardConnect, and we channel much of the required information to them on the back end, this form still needs to be filled out completely; it is their standard form for all their clients.
The form you are taken to is CardConnect’s standard application for any business that wants to apply for a Merchant Account. Because of MobileCause’s relationship with CardConnect, you don’t need to fill in every single detail. These steps will guide you through everything you need to check, fill out and ignore so you can start collecting donations with your MobileCause account.
This is how you digitally sign your merchant account application. All the information will be pre-populated from the application that you already submitted to MobileCause.
Step 1 - Business Details
- Verify the information prepopulated
- Verify the Business Start Date is the same year as when the organization started. Don't worry about the exact business start date as long as the year matches the year that the company started, and we actually pull this information from GuideStar.
Step 1 (Continued) - Contact Info and Business Address
- Verify the information prepopulated
Step 1 (Continued) - Owner InfoThis section is asking for an owner's or officer's information with the company or organization. This should be filled in with the person who will be digitally signing the form, as a representative of the organization.
This information is required due to recent Federal Banking Laws. The Financial Crimes Enforcement Network (FinCEN) has implemented a new rule via the Bank Secrecy Act which dictates only an executive officer or manager (e.g. CEO, CFO, COO, managing director, general partner, president, etc.) or any individual who regularly performs similar functions, must be identified (by Social Security Number) and must sign the merchant account application. If you'd like to learn more about these recent changes, click here.
- The Title should be the signer's role in the organization. If none of the choices from the drop down apply to their position, choose what would be closest to correct.
- The Percent of Ownership: Ideally, enter the approximate percentage of ownership of the owner/officer/signer of your organization.CardConnect is aware of the nature of Non-Profit Organizations, so if the signer does not own part of the organization, you can enter 0%.
- Date of birth (DOB) is required.
- The social security number is a required field to complete the application.
- The Bank Secrecy Act (BSA), also known as the Currency and Foreign Transactions Reporting Act, is legislation passed by the United States Congress in 1970 that requires U.S. financial institutions to collaborate with the U.S. government in cases of suspected money laundering and fraud.
- These new rules implemented pertain to Beneficial Ownership in a two-pronged approach, both an ownership-prong, and a control-prong. This control-prong dictates that an executive officer or manager (e.g. CEO, CFO, COO, managing director, general partner, president, etc.) or any individual who regularly performs similar functions, must be identified and must sign the merchant account application.
- The Financial Crimes Enforcement Network (FinCEN) has implemented new rules around Bank’s Due Diligence under the Bank Secrecy Act (BSA). Over the years, BSA has been strengthened through subsequent anti-money laundering (AML) laws. This includes parts of USA PATRIOT Act compliance, which focus on money laundering in the form of terrorist financing.
- Just because of the way the application works, you will need to enter a Phone Number.
- You do not need to fill in the Mobile Phone Number.
- You will need to enter a Residence Address. Just enter it manually, Make sure it is complete, including City, State, and Zip.
- The Residence Address must be different from the Business Address.
Step 1 Complete
- If everything is correct and any needed information added, you can click Ok. Looks great, let's move on.
Step 2 - Banking & Processing InformationHere, you will need to enter your Bank information that you provided us in the form of the Voided Check or Bank Letter in the initial application. This is important to populate with the correct information or the application will not go through. So please enter the correct information and verify it.
- Do NOT put a checkmark in I require separate Deposit and Withdrawal account.
- Verify your Bank Name
- Verify the bank account Routing Number
- Verify the Account Number
Step 2 (Continued) - Goods & Services
A lot of this step is pre-populating with information from the application. Do not change any of these because these are filters that we need to move forward creating the account.
Step 2 Complete
- Once this section is complete, select Ok. Looks great, let’s move on.
Step 3 - EquipmentThere is nothing that you need to do here so just click Ok. Looks great, let’s move on.
Step 4 - Agree & SignThis section shows the rates agreed upon in your MobileCause application. Review this section, but there should be nothing to add.
- The fees should reflect your agreed upon fee shown on your MobileCause contract, so make sure to verify the percentage is correct.
- There are no transaction fees because of our special agreement with CardConnect
- This shows the $10 monthly gateway fee that should be documented in your MobileCause contract.
Step 4 (Continued) - Agree & SignThe last step is where you are digitally signing the application.
- You can download and/or read the CardConnect First Data Program Guide.
- In Sign Here, you will need to type in your name that you entered in the initial application.
- Check the first checkbox for Corporate Officer
- You do not need to check the second checkbox for Personal Guarantee.
- Click I Agree to digitally sign and agree to the request.
It will take you back to the main screen and now you'll see your status is In Progress so that means your digital signature request was successfully signed and submitted to CardConnect.
Your merchant account should be approved within five business days. When it is, we will then link it to your MobileCause account and send a follow up email to the contact on the application, confirming that your Merchant Account is live and linked to your MobileCause account as well as additional information regarding CardPointe, the merchant portal.