PracticeQ Payments: Application Checklist

Ready to sign up for PracticeQ Payments? Below is a checklist of what you will need to prepare for the application.

If you think your business may be considered a high-risk business, please read PracticeQ Payments - High-Risk Applications.

• Owner/Signor information: This will be required for anyone owning 25% or more of the business.
  
  • Name
  • Address
  • SSN/SIN
• Soft credit (Experian) check: 
  • Please make sure that your Experian account is not frozen.
  • For more information on the credit check, read PracticeQ Payments: Soft Credit Check.
• Company Information:
  
  • Company type (incorporated, sole proprietor, or individual)
  • Legal company name
  • DBA, if applicable
  • EIN/Tax ID
• Proof of business operating location: 
  • The business address cannot be a registered agent address or PO box. 
  • If your business is telehealth-only and/or remotely operated, use your home address. This is not published to your clients.
• Estimates of annual processing volume for Credit/Debit cards and ACH transfers 
• Annual revenue
• Average transaction size
• Largest transaction size
• Bank account details: This verification often requires either a voided check or signed bank letter.

If providing a voided check:

• MUST include the DBA name or company name 
• CANNOT be a starter cheque, digital cheque, or have penned in company name/address.  
• MUST have "VOID" handwritten
• MUST be a clear, color picture of the check - not a scan

If providing a bank letter:

• MUST be on Official Bank letterhead. 
• MUST include the Bank Name and Branch Address. 
• MUST have Merchant Legal Name AND DBA Name. 
• MUST include the full account number. 
• MUST include the full routing number. 
• MUST include a signature and contact telephone number of an employee of the bank. 
• MUST include "this account is active and is in good standing with the bank". 
• MUST be dated and less than 90 days old.