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Justifi is obligated to protect you, your customers and the consumers they serve. For that reason, we’re required to have a thorough understanding of your customers’ business model, financial situation, and the potential credit risk of each individual business.
What is credit risk?
Credit risk is the potential for monetary loss resulting from a business’ inability to remit refunds and chargebacks it generates back to customers it has accepted payment from.
Historically, businesses that accept payment far in advance of delivery of goods and services may be a higher risk for payment processors.
To mitigate this risk, businesses must provide documented evidence of its operational and financial strength, and its continued ability to support delivery of goods and services, refunds, and chargebacks.
This information is securely used to perform industry standard identity verification. To ensure a fast and frictionless onboarding process, it’s important to input the information as accurately as possible.
Sole Proprietorship
Single Member LLC
BUSINESS INFO
Website URL
Business Type
Determines MCC Code
Business Name
As represented on tax records
Tax ID
Federal Tax Identification Number/EIN issued by the IRS
Approximate Annual Spend
Date of Incorporation
ONE REPRESENTATIVE
First & Last Name
Date of Birth
Must be 18 or older
Address
Email
Phone
Full SSN
________________
Photo ID Upload
Only collected (later) if submitted representative can’t be verified
BANK ACCOUNT
To receive payouts, US banks only
Accountholder Name
Account Type
Individual or Company
Routing Number
ACH routing number
(not wire routing number)
Account Number
Must be a checking account
Multi Member LLC
Private Partnership Private Corporation Unincorporated Association
BUSINESS INFO
Website URL
Business Type
Determines MCC Code
Business Name
As represented on tax records
Tax ID
Federal Tax Identification Number/EIN issued by the IRS
Address
Phone
Approximate Annual Spend
Date of Incorporation
ONE REPRESENTATIVE
First & Last Name
Date of Birth
Must be 18 or older
Address
Email
Phone
Full SSN
Title
Owner or Executive?
If Owner, can add up to 3 more Owners If Executive, can and add up to 4 Owners
________________
Photo ID Upload
Only collected (later) if submitted representative can’t be verified
OWNERS
25% or more business ownership
First & Last Name
Date of Birth
Must be 18 or older
Address
Email
Phone
Full SSN
________________
Photo ID Upload
Only collected (later) if submitted representative can’t be verified
BANK ACCOUNT
To receive payouts, US banks only
Accountholder Name
Account Type
Individual or Company
Routing Number
ACH routing number
(not wire routing number)
Account Number
Must be a checking account
Incorporated
Unincorporated
BUSINESS INFO
Website URL
Business Type
Determines MCC Code
Business Name
As represented on tax records
Tax ID
Federal Tax Identification Number/EIN issued by the IRS
Address
Phone
Approximate Annual Spend
Date of Incorporation
ONE REPRESENTATIVE
First & Last Name
Date of Birth
Must be 18 or older
Address
Email
Phone
Full SSN
Title
Owner or Executive?
If Owner, can add up to 3 more Owners If Executive, can and add up to 4 Owners
________________
Photo ID Upload
Only collected (later) if submitted representative can’t be verified
BANK ACCOUNT
To receive payouts, US banks only
Accountholder Name
Account Type
Individual or Company
Routing Number
ACH routing number
(not wire routing number)
Account Number
Must be a checking account
Governmental Unit Government Instrumentality Tax Exempt Government Instrumentality
BUSINESS INFO
Website URL
Business Type
Determines MCC Code
Business Name
As represented on tax records
Tax ID
Federal Tax Identification Number/EIN issued by the IRS
Address
Phone
Approximate Annual Spend
Date of Incorporation
ONE REPRESENTATIVE
First & Last Name
Date of Birth
Must be 18 or older
Address
Email
Phone
Full SSN
Title
Owner or Executive?
If Owner, can add up to 3 more Owners If Executive, can and add up to 4 Owners
________________
Photo ID Upload
Only collected (later) if submitted representative can’t be verified
BANK ACCOUNT
To receive payouts, US banks only
Accountholder Name
Account Type
Individual or Company
Routing Number
ACH routing number
(not wire routing number)
Account Number
Must be a checking account
BUSINESS INFO
Website URL
Business Type
Determines MCC Code
Approximate Annual Spend
Date of Incorporation
ONE REPRESENTATIVE
First & Last Name
Date of Birth
Must be 18 or older
Address
Email
Phone
Full SSN
BANK ACCOUNT
To receive payouts, US banks only
Accountholder Name
Account Type
Individual or Company
Routing Number
ACH routing number
(not wire routing number)
Account Number
Must be a checking account
Not every sub-account is created equal! In certain instances, we may require additional financial documents to safeguard both you and your customers. These documents may include:
In the event that any information is unverifiable, the following documents may also be required:
What is a financial representative?
Typically this is the owner(s) of a for profit business. For non-profit organizations, this is typically a board member such as a president, secretary, treasurer, etc. who is responsible for or oversees the finances of the organization.
Why can’t a PO Box be used for the address?
We need a physical address to ensure the organization/business is located and performing business within the United States.
Why does the financial representative need to provide a full SSN and date of birth?
Do you perform a credit check with the SSN?
No, it is only used for OFAC background checks.
Can personal information be safely provided and stored with JustiFi?
Yes, JustiFi is PCI-DSS and SOC 2 compliant. This means that we follow the highest standards per the payment card industry for keeping card data safe, and cyber security compliance to ensure all of your data is stored securely.
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