Configure merchant beneficial owners (Merchant Beneficial Owner)

Completion of the Merchant Beneficial Owner page for a merchant facilitates compliance with the Financial Crimes Enforcement Network (FinCEN) rules and requirements.

To configure or update a merchant's beneficial owner settings:

1. If boarding a full service merchant, from the Merchant Account page, click Next.

   -or-

   Search for the merchant to display its details on the Merchant Summary page, and then:

   In the Merchant Quick Links panel, click Merchant Beneficial Owner.

   

   -or-

   From the Merchant menu, click Merchant Beneficial Owner.

   

   The Merchant Beneficial Owner page opens.

   

2. If the merchant is already boarded, click Edit.
3. For the Individual with Control and each Beneficial Owner (Beneficial Owner 1, Beneficial Owner 2, etc.) panel, enter details in the fields provided.

   Tip: To reveal the fields for a Beneficial Owner panel, click the Expand option for that panel:
   
   

   The fields are self-explanatory, and these check boxes can help facilitate data entry:

   • Copy from Primary Owner

     Select this check box to populate the panel fields with information from the merchant's Primary Owner Information panel on the Merchant Parameters page.

   • Copy from Secondary Owner

     Select this check box to populate the panel fields with information from the merchant's Secondary Owner Information panel on the Merchant Parameters page.

4. If you are updating a merchant's account settings, click Validate or Board, as required.

   -or-

   If you are entering account settings for a new merchant, click Save at any time to save the information you have entered, and then to proceed to the next page in the merchant boarding process, click Next.