This article explains the roles, forms, and documentation required for PropertyBoss E‑Payment accounts through Vantage Payment Services. It is intended to help you determine which forms are needed, why certain information is required, and how to submit documentation securely.


Understanding Required Account Roles

Federal banking regulations require clearly defined roles on all E‑Payment (merchant) accounts. Below is an explanation of each role and its responsibilities.


Beneficial Owner

A Beneficial Owner is any individual who:

  • Owns 25% or more of the business, or
  • Exercises significant control over the business

Why this matters:

  • Required by federal regulations for transparency and accountability
  • Beneficial owners may share financial liability for the account
  • Accurate identification is critical for compliance


Authorized Signer

The Authorized Signer is the individual legally permitted to bind the business, including executing contracts and approving merchant account applications.

Important details:

  • Only Signers can make changes or updates to the merchant account
  • The Signer may also be a Beneficial Owner, but this is not required
  • If the original Signer is no longer with the business, the client must notify PropertyBoss/Vantage so a new Signer can be designated
  • Accounts processing payments without a valid Signer who still has a vested interest are considered out of compliance and may result in fines or service discontinuation


Administrative Contact

The Administrative Contact is the day‑to‑day point of contact for account questions and general communication.

  • Does not need to be a Signer or Beneficial Owner
  • Can ask questions and request assistance
  • Cannot make changes or updates to the merchant account


Why Vantage Requests Personal Information

PropertyBoss and Vantage understand that providing personally identifiable information (PII) is sensitive. This section explains what is collected, why it’s required, and how it’s protected.


Personal Information Collected

During merchant onboarding, limited personal information may be collected from individuals with ownership, control, or signing authority, including:

  • Full legal name
  • Date of birth
  • Home address
  • Social Security Number (or last four digits)

This information is collected only from individuals legally associated with the business.

 

Why This Information Is Required

Federal banking and payment industry regulations require payment processors to verify the identities of individuals associated with a business. This helps to:

  • Confirm the legitimacy of the business and its owners
  • Prevent fraud, identity theft, and unauthorized account use
  • Comply with Know Your Customer (KYC) and Anti‑Money Laundering (AML) laws

These requirements protect both the merchant and the payments network.


How the Information Is Used

The information is used strictly for compliance and risk assessment, including:

  • Identity verification of owners and authorized signers
  • A soft credit inquiry to assess overall account risk

Key points about the credit check:

  • It is a soft pull
  • It does not impact credit scores
  • It is not visible to lenders
  • It is used only for identity validation and risk assessment


How Personal Information Is Protected

All personal information is:

  • Encrypted and securely stored
  • Accessible only by authorized personnel
  • Used solely for compliance, underwriting, and risk monitoring

Vantage and its partners do not sell or use personal information for marketing purposes.


E‑Payment Request Types & Required Forms

Below are the most common E‑Payment scenarios and the documentation required for each.


1. New E‑Payment Account

Used when setting up a brand‑new E‑Payment / merchant account.


Required Documentation:

Notes:

  • Vantage will request additional business and ownership information during review
  • A Finicity link will be provided/Login and connect to your account
  • Payment processing cannot begin until all documents/links and information are approved

Required Form:


2. Bank Account Changes

Used when updating the bank account where funds are deposited (routing and/or account number changes).


Required Documentation:

Notes:

  • Only required when the underlying bank account information is changing

Required Form:


3. Account or Business Information Changes

Used for updates to an existing merchant account, including:

  • DBA or Legal Name
  • EIN
  • Business Address
  • Business Phone
  • Authorized Signer
  • Contact Email

Required Documentation:

  • Varies by type of change
  • Some changes may require legal documentation or updated IRS records

Required Form:


4. New E‑Payment Account (Additional Active Accounts Already Established)

Used when an organization already has one or more active E‑Payment accounts with Vantage and needs to set up an additional E‑Payment account.


Required Information: Email the following to trina.lasiter@propertyboss.com:

  • Legal name for the new E‑Payment account
  • Number of units associated with the new account
  • Voided check or bank verification letter

Process Overview:

  • Once the legal name and banking documentation are received, PropertyBoss will open a ticket with Vantage
  • Vantage will send a secure link to collect and update the required information for the new account
  • After the legal name and voided check/bank letter are submitted, Vantage will issue the Finicity link to complete bank verification

Notes:

  • Processing cannot move forward until all required information is submitted
  • This process applies only when adding E‑Payment account to an organization with existing active accounts


Submitting Forms & Documentation

Forms and supporting documentation can be submitted in one of the following ways:


Option 1: Send Directly

Send completed forms and documents directly to PropertyBoss support - care@propertyboss.com 


Option 2: Secure Upload - Recommended

Upload documents securely using the Safe Upload link:


Need Additional Help?

If there are questions about:

  • Which form is required
  • What documentation is needed
  • Role definitions or compliance requirements



Please contact PropertyBoss Support for assistance.