Real-time underwriting verification checks merchant application data before submission, reducing data entry errors and speeding up the application approval process.
How It Works
When a merchant reaches the review page during onboarding, the following three pieces of information are verified in real time:
Tax ID - Confirms the business tax ID matches the business legal name
Owner SSN - Confirms each owner's SSN matches their legal name
Bank Account - Confirms the account is open, active, and belongs to the business
What Happens When a Verification Fails?
When a verification fails, the merchant is prompted to either correct their information or confirm it is accurate. If verification fails twice, the merchant may be asked to upload the following supporting documents:
Verification | Accepted Documents |
Tax ID | IRS SS-4 or similar document |
Owner SSN | Government-issued ID |
Bank Account | Voided check or bank letter |
Once the merchant confirms and/or uploads documents, manual verification will be required. Documents are reviewed after the application is submitted.
Note: Document content is verified after submission, not at upload time. Submitting an incorrect document may result in a delay of the application.