Before You Begin
Have the bank account owner’s email address, ownership percentages, primary contact information, and business addresses ready. You’ll also need business details such as the legal business name, doing-business-as name, and EIN.
Anyone completing identity verification should have a government-issued photo ID available.
Start the Application
Go to Settings > Payment Processing and click New Merchant.
Select the Account you want to associate with this merchant application. This is the bank-account record in Property Matrix; connecting the actual payout bank account through Plaid happens later. Choose carefully—the Property Matrix account cannot be changed after it is assigned to this application.
Open Task Overview to see which steps are complete and what remains. You can return to this page throughout the application.
Verify the Bank Account Owner
Confirm whether the bank account is in your name:
Yes, it is in my name: Complete identity verification yourself through Plaid. Have your government-issued photo ID ready. Once verified, click Continue Verification to link the bank account.
No, it belongs to someone else: Enter the owner’s email address and click Send Invitation. The owner receives a link to complete verification. You can check the invitation’s status, resend it, or delete it if needed.
If identity verification or bank linking fails, the result appears in the application. You have three attempts. Contact Property Matrix support for help if all three fail.
Add Beneficial Owners
On the Beneficiary Owners page, review each owner’s information and enter their ownership percentage. The primary bank account owner’s completed verification and available details will already be linked.
If there are additional owners, click Choose Option. You can enter an owner’s details yourself and have them complete ID verification, or select Send secure form by email so they can provide their information and verify their identity. Grayed-out fields are filled from their verification.
You can continue when the recorded ownership totals at least 50%, all required information is complete, and verification is finished.
Finish and Submit
Choose a primary contact for application questions and updates. If this is the primary owner, their verification can be reused. A property manager serving as primary contact must complete their own verification.
Enter the business’s physical address—the location where the business operates. P.O. boxes cannot be used for this address. The mailing address is where correspondence from ProPay should be sent. Select Same as physical if both addresses are the same.
Complete the business and processing information. Review the bank details populated from the bank-linking step.
Review and agree to the terms and conditions.
Review the application, then click Submit Application.
Check the Application Status
After submission, the application displays a confirmation and the merchant’s current status. You can also check the merchant’s status on the Payment Processing page.
Submitting the application does not necessarily mean payment processing is ready. If the status is Documents Required, contact Property Matrix support to confirm which documents are needed for the account review.
When the merchant account is active and ready to process payments, the application displays a message confirming this. Check for any verification or hold warnings as well.
Request Changes Later
To update an existing merchant, open its Details tab and continue to the edit form. You can edit one section at a time.
The Documents Required by ProPay notice explains the supporting paperwork needed for a change request. Review it before continuing; select View full document requirements for the detailed checklist.
After making a change, click Request changes and upload:
A signed DDA change request form. The form must include the merchant ID and DBA or legal business name, DBA or billing address, existing and new bank details, and the authorized signer’s title and signature.
Proof of banking, using either:
A voided check showing the DBA or legal business name and address, plus the bank name. Starter and sample checks are not accepted.
An official bank letter showing the DBA or legal business name and address, account and routing details, and bank logo. It must be signed by a bank representative, include their name and title, and be dated within the last 12 months.
Click Submit Request to send the change request for review. Your existing merchant information remains unchanged until Property Matrix approves the request.