Your finances are our top priority — we also understand the need for speed and reliability when handling funds in and out of your account. That’s why inDinero has teamed up with Dwolla as our ACH payment partner.
Dwolla is committed to staying on top of their security and compliance just as inDinero prides itself on being your trusted source for your financial and tax needs. Read more about Dwolla here!
Under the USA Patriot Act, verifying the Know Your Customer (KYC) is a vital step to perform financial transactions all while remaining compliant. To do so, a Customer Identification Program (CIP) must be verified within Dwolla and will need to be verified in your Billing and Bill Pay sections.
Let’s Begin!
Step 1: To start, navigate to your Billing section (Account and Settings > Settings) and click the Billing from the displayed tabs.
Step 2: Here, select + Add New icon in the Payment Method section. Follow the prompts to re-add your account and routing number.
You can always go back to this page to add a new billing account or edit the existing one by selecting the + Add New button or the Edit icon to the right of your connected account!
Next, it’s time to add your Bill Pay information. It’s imperative that Dwolla captures your business information to stay compliant and get the full picture including items like Business and Executive Details as well as Business Owner information —don’t worry, we don’t expect you to know it all in one sitting! Save as a draft when you reach stopping points or even send an invite to Beneficial Owners to fill out their own information.
Step 1: To start, navigate to Bills > Make a Payment, and follow the prompts to add your business details and add any requested supporting documents.
Please double check all filled out information to prevent processing delays on your end. Missing or mistyped information may lead to processing delays. Be sure to “Save as Draft” if information needs to be reviewed.
Step 2: Once your Business Details are confirmed, you will be prompted to add Beneficial Owners—or individuals who own 25% or more of the company.
Note: if you choose ‘Sole Proprietorship’ as your business type, this section does not populate and you’ll be prompted to the Add a Funding Account tab after filling out the Business Details section.
Here, you can add their information! If the information is readily available, select Add Owner to populate and fill out the required information. Or have the individual fill out their own information by clicking Invite.