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Merchant Account

The following FAQs will guide you on how to manage merchant accounts in the Online Terminal.
 
Table of Contents

How to update your bank account information that is on file with ICG
How to update the business name that shows next to the charge on your customer's statement
How to update your company name
How to update the Tax ID on file for your account
How to request an increase to ACH Limits
How to update the admin user on file for your account
Annual Review - Why do I need to fill this out?
How long will it take to approve my application?



How to update your bank account information that is on file with ICG

Have an authorized signer complete and sign a bank account change form and also send a corresponding voided check or bank letter for the new account(s).

Note: Both the settlement and billing lines must be completed.

Underwriting requires at least 3 months of bank statements for the account listed on the application; however, if the bank account listed on the application is new, they require at least a snapshot of the current balance/activity for that new account and bank statements for an account with previous activity if available.

Bank Account Change for TRADITIONAL Accounts

Bank Account Change for PAYMENT FEE Accounts

 

How to update the business name that shows next to the charge on your customer's statement

Let us know what the name should be changed to. For ACH, this may require special approval from the processing bank. For credit cards, you will also need to contact your sales representative to update the descriptor with the credit card processor.

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How to update your company name

Send us the legal documents showing your company name has changed.

 

How to update the Tax ID on file for your account

Provide the new Tax ID along with any legal documentation you have that confirms the change.

How to request an increase to ACH Limits

An Authorized Support User will need to submit a request in writing to increase the per item limit for ACH transactions. Explain the reason for the increase, let us know the amount you need the limit increased to, and provide 3 months' worth of recent bank statements for the settlement account we have on file.

How to update the admin user on file for your account

The owner of the company or an Authorized Support User will need to complete and sign a Contact Change Request Form.

Contact Change Request Form 

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Annual Review - Why do I need to fill this out?

As part of our ongoing regulatory requirements, we conduct an annual review for all iCheckGateway.com merchants.

Our merchants are required to complete a yearly attestation to ensure they are staying PCI compliant and following NACHA regulations, and to let us know whether there have been any changes in the company or not.

You are welcome to contact us if you have any questions about completing the form.

How long will it take to approve my application?

Applications for new iCheckGateway's accounts are processed in the order that they are received. Response times can vary depending on the type of application (i.e. Credit Cards Only, Credit Cards & ACH, etc.) and how many are in the queue ahead of them.

Please note that incomplete applications will cause delays. All supporting documents need to be submitted before the application can be sent to the Underwriting department.

Additional due diligence documents may be required based on business type, SEC Codes, or as rebuttal of derogatory information obtained.


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