Payments Onboarding Process

It’s easy to get started with Inspect Point payments! All you need to do is:

1. Submit an agreement form
2. Attend a quick, 15-minute training call
3. Start taking payments!

Here is a link to the form:

https://payments.inspectpoint.com/signup/InspectPoint

Before you submit the agreement form, you’ll want to make sure you have the required information on hand. To complete the form, you will need to know:

• Business type (Corporation, LLC etc.)
• EIN
• Date that business was established
• Owner information (including SSN and ownership %)
• Bank account type / number - This should be the account you’d like to deposit your funds into. There are two options when linking: entering the account manually which will require a voided check or utilizing the Plaid Verification tool.

Finally, for the Terms & conditions section, you must open each link before you can submit the application. Once the form is complete, you will receive an email requesting you to confirm your email. This step is required prior to account activation.

Here a few FAQ’s that come up about the form:

Once I submit the form, how soon can I start taking payments?
Most customers can start taking payments within 1-2 business days of submitting the form. Typically, a form will take several hours to review. Sometimes, there may be a request for additional information for verification purposes. If that is submitted promptly, forms are approved quickly, again within several hours. Once the form is approved, the next step is to schedule a quick training call, and then we can turn payments on for you, and you can start taking payments!

Why do I need to provide the owner’s social security number?
While the financial responsibility for the account is tied to the EIN not the SSN, the Patriot Act / Federal Banking Laws require that all Merchant accounts can be tracked to an individual: 

Section 312 of the USA PATRIOT Act requires U.S. financial institutions to perform due diligence and, in some cases, enhanced due diligence, with regard to correspondent accounts established or maintained for foreign financial institutions and private banking accounts established or maintained for non-U.S. persons.

What if I don’t know the business’s estimated annual process volume / average transaction amount?
This is truly just an estimate, and can be a guess. This is just for data collection purposes and does not impact your account.

What should I answer for “How Does the Business Primarily Take Payments?”
For this question, select “Customer Enters Payment Online.”

What should I input for “Secondary Descriptor?”

This will show up on the deposits that hit your bank account. We recommend you put “Inspect Point” in this field to easily identify payments made through the platform.