2 Businesses

Businesses represent legal business entities within an organization.

Each business has one or more owners, known as users. As user, you can grant ownership to others. You can also grant a person the permission to assign a business unit user, meaning they can just add a business unit, but do not control the business itself. If you are in the Payment Administrator Identity Cloud Service (IDCS) group, you can view all businesses within an organization, but you must be an owner to perform other actions. You can also grant access to the record for others if they have the relevant permission.

Businesses must first be verified before associated business accounts can be managed or before additional accounts can be added. Verification is how the legal business, personal, and banking information is validated. Before adding an business, make sure you have the following information on hand:

• Legal business name, address, and tax ID number.

• Individuals in key financial roles for the company, such as owners, controllers, and signatories. They will be asked to provide their personal information including name, address, date of birth, and the last four digits of their Social Security number. Additional documentation is often required such as color photos of a government-issued ID or passport.

• Banking information, such as a bank account number and routing number. Additional documentation is often required such as a letter from your bank or recent statement, screenshot of the online banking page with account name, address, and the account number visible.

When a business status is Closed, then business email, phone number, and address data are deleted.

• Add a Business
  Create a business within the organization.
• Verify a Business
• Assign a Business User
  Define which users can manage the business.
• Unassign a Business User
  Remove a business user.
• Edit a Business
  Make changes to a business record.
• Card Statement Descriptors