Before processing online orders, merchant need to set up a payout account. We will connect tax information for the company and the owner.
1. Set up a payout account.
- Setup as a company
In most cases, your merchant account is taxed as a company. You would need to enter the following information.
Company Name: enter the exact legal name of your company, e.g., Ellen's Cafe, LLC. Please make sure the name includes the part of LLC, Inc, etc. don't include the part of DBA.
Company EIN
Company Phone
Company Address
The company EIN and Name has to match the data from IRS database.
Enter the owner's information
Owner's Name (First, Last)
Owner's Date of Birth
Owner's SSN (last four)
Owner's Phone
Owner's Address
- Setup as an individual
You will only need to provide your personal tax information as list above for the owner.
2. Provide a Checking Account
In the bank account section, please enter your checking account with the routing number and the account number. Please double check the routing number and account number. A mismatching account information may cause failed or incorrect deposit.
You can put in multiple checking accounts and update your checking account anytime.
3. How often would I get paid and how much
If there is available balance in your account, you would receive a deposit on every Monday or the first business day of a week if Monday is a holiday. All online transactions take about two days transit from pending status to available status. The deposit usually covers transactions that are processed up till last Thursday.