Sub-Account Onboarding Process
This page provides explanations on the underwriting requirements for all JustiFi sub-accounts, and the frequently asked questions surrounding those requirements.
For-Profits
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
Full SSN
Photo ID Upload
Only collected (later) if submitted representative can't be verified
BANK ACCOUNT
To receive payouts, US banks only
Account Holder Name
Account Type
Individual or Company
Routing Number
ACH routing number (not wire routing number)
Account Number
Must be a checking account
For-Profits
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
Phone
Full SSN
Title
Owner or Executive?
If owner, can add up to 3 more owners.
If executive, can add up to 4 owners.
Photo ID Upload
Only collected (later) if submitted representative can't be verified
OWNERS
25% or more of business ownership
First & Last Name
Date of Birth
Must be 18 or older
Address
Phone
Full SSN
Photo ID Upload
Only collected (later) if submitted representative can't be verified
BANK ACCOUNT
To receive payouts, US banks only
Account Holder Name
Account Type
Individual or Company
Routing Number
ACH routing number (not wire routing number)
Account Number
Must be a checking account
Non-Profits
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
Phone
Full SSN
Title
Owner or Executive?
If owner, can add up to 3 more owners.
If executive, can 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
Account Holder Name
Account Type
Individual or Company
Routing Number
ACH routing number (not wire routing number)
Account Number
Must be a checking account
Government Entities
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
Phone
Full SSN
Title
Owner or Executive?
If owner, can add up to 3 more owners.
If executive, can 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
Account Holder Name
Account Type
Individual or Company
Routing Number
ACH routing number (not wire routing number)
Account Number
Must be a checking account
Individuals
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
Phone
Full SSN
BANK ACCOUNT
To receive payouts, US banks only
Account Holder Name
Account Type
Individual or Company
Routing Number
ACH routing number (not wire routing number)
Account Number
Must be a checking account
Additional Credit Documentation may be Required
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:
Bank Statements: 3-6 months of recent bank statements may be required.
Bank statements allow Justifi to assess deposit and balance trends.
Processing Statements: 3-12 months of processing statements from the business’ previous merchant account provider may be required.
Processing statements allow Justifi to assess transaction volume and count as well as refund and chargeback trends.
Financial Statements: The most recent 2 years and year to date financial statements may be required.
Financial statement packages typically include balance sheet, income statement, and cash flow statements. A Deferred Revenue report may also be required.
These statements allow Justifi to assess the business’ financial condition and determine if the financial wherewithal is aligned with the credit risk the business may generate.
Booking Report: An annual booking report may be required.
This report typically includes transaction date, transaction amount, and date of services rendered.
Line of Credit/Debt Terms: The business may be required to provide evidence of line of credit availability and/or term debt agreements. This allows Justifi to assess the business’ current debt obligations and cash availability.
In the event that any information is unverifiable, the following documents may also be required:
Photo ID upload: for the financial representative
Photo SSN Card upload: for the financial representative
SS4 or 501c3 letter
Articles of Formation
Registration documentation: verifying the individual on the application as a valid financial representative
