What to Gather Before Starting Your AndDone Onboarding Application?
Before you start your onboarding application, prepare information in three key areas: Business, Individual, and Bank. Having these ready will make the process faster and smoother.
Business Information
You’ll need:
- Business Name
- Business Address
- Tax ID (EIN)
- Preferred bank account for funding (see section Bank Information)
Provide ONE of the following as proof of business and type:
- IRS EIN Confirmation Letter (CP 575)
- IRS SS-4 Confirmation (Stamped)
- State-issued tax certificate
- Business License
Business Individuals Information
We are required by federal KYC (Know Your Customer) and KYB (Know Your Business) regulations (Know Your Customer/Know Your Business regulations) to collect details on at least one individual — either a beneficial owner with 25% or more of the company, or a control prong individual with substantial control over the business.
You’ll need for each applicable individual:
- Full Legal Name
- Date of Birth
- Social Security Number
- Home Address
- Percentage of Ownership
Definitions:
- Beneficial Owner – Owns or controls at least 25% of the company.
- Control Prong – An individual with substantial control over the business, such as:
- Senior Officers: President, CFO, CEO, COO, General Counsel
- Others with Authority: Treasurer, Director, Managing Partner, or similar key important decision-makers who direct and determine important decisions over the business entity.
Bank Information
We must verify the account where funds will be deposited.
Provide ONE of the following documents (must match exact business name, bank name, and full account number)
- Voided Check – Must show routing and account numbers (MICR line).
- Bank Letter – On official letterhead, dated within the last 12 months.
- Bank Statement – Dated within the last 12 months.
Choosing the right account:
- Pay-In-Full Transactions – Use the account you want the full policy amount deposited.
- Collecting Fees Only – Use the account you want only fee proceeds deposited.
- Other Use Cases – For multiple accounts (e.g., trust or operating), select the account that will be used for transactions processed through AndDone.
Why Does AndDone Ask for Your Personal Information?
As a payment facilitator, AndDone must collect certain business and personal details to comply with federal Know Your Customer/Know Your Business regulations. This information is used for due diligence to open and maintain a sub-merchant account for your agency/legal entity. We do not run personal credit checks, the information is used solely for identity and business verification purposes.
Once I Submit My Onboarding Application, What are My Next Steps?
Once your onboarding application has been submitted, our underwriting team will review it. If any additional information or documentation is needed, we will notify you.
Once approved, you’ll receive a confirmation email with instructions to schedule an optional kick-off call. This call will walk you through the AndDone Payments Portal features and best practices.
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If you need assistance or have any further questions, please click here to contact our support team.