Credit Conversion Application Process

Credit Conversion Application Process

Objective

This SOP outlines the step-by-step process for completing the credit conversion application to ensure accurate information submission and expedite processing.

Tips for Efficiency

• Gather all necessary documents (Articles of Organization and EIN Letter) before starting the application.

• Ensure your ID is ready for verification to avoid delays.

• Double-check all entered information for accuracy before submission.

Key Steps

Step 1: Initial Questions

• Begin the application by answering initial questions regarding:

  • Purpose of funds

  • Number of cards being converted

  • Any additional details you wish to provide

• After filling out these fields, click 'Next'.

Step 2: Business Information

• Enter your business name.

• If available, provide your business website to assist in verification.

• Fill in your business address.

Step 3: Document Upload

• Upload the following documents:

  • Filed Articles of Organization

  • EIN Letter

• Ensure these documents are correct and readily available. If not, pause the application to gather them.

Step 4: Multiple Businesses (if applicable)

• Indicate if you are converting cards from multiple businesses.

• If yes, prepare to provide:

  • EIN letters

  • Articles of Organization

  • Addresses for those businesses.

Step 5: Verify Bank Information

• Confirm that your email and phone number match the information provided during pre-qualification.

• Complete the verification process by clicking 'Verify'.

Step 6: ID Verification

• Follow the prompts to verify your identity:

  • Submit a clear photo of your ID against a light background.

  • Hold still while taking the picture.

Step 7: Bank Account Connection

• After successful ID verification, proceed to connect your bank account via Plaid.

• Enter your phone number to receive a verification code.

Step 8: Select Bank and Accounts

• Choose your bank from the list provided.

• Select the specific accounts you wish to link.

Step 9: Final Steps

• Review all entered information for accuracy.

• Sign the application.

• Click 'Submit' to complete the application process.

Cautionary Notes

• Ensure all documents uploaded are the correct files (Articles of Organization and EIN Letter).

• If incorrect documents are uploaded, it may delay the application process as further communication will be required.