Applying for Retail Cash Payments

In just a few easy steps you can apply for retail cash payments with Buildium and start collecting cash payments in as little as 7 business days. 

Preparation

In order to apply for Retail Cash Payments with Buildium, you will first need to sign a schedule-1 agreement and provide a bank account verification letter signed by your bank.

1. To apply for Retail Cash Payments, identify the bank account in Buildium that you’ll want your residents’ cash payments to be deposited into.(Note:The bank account you choose needs to be a business bank account)
2. Download and sign the Schedule-1 agreement, which you’ll need to upload in .pdf format later in the application process.                                   Download the blank form here
3. You will also need to get a bank account verification letter dated and signed by your bank that states that your bank account is valid and in good standing. If you plan on setting up multiple bank accounts, you will need to get a letter for each bank account. You’ll also need to upload this in .pdf format later in the application process.                     See a sample bank letter here
4. If you are a sole proprietor whose DBA name differs from your legal name, you will need to have an assumed name certificate or fictitious name certificate

Application Steps

To get to the application, navigate to Accounting > Banking, then select the bank account. Click on the ePay Settings tab, and scroll down to Retail Cash Payments.

Click Apply Now

Application Step 1

• Enter the required details about your bank account and upload your bank account verification letter in .pdf format.

Application Step 2

• Enter the required business details and upload the signed Schedule-1 agreement in .pdf format.
• If applicable you will also need to upload your Fictitious Name Certificate/Assumed Name Certificate

NOTE: If you are not able to supply your fictitious name certificate when applying, this will be asked for by the underwriters and may delay your application.

Application Step 3

• Review your information

Submit application

Once submitted, it will take up to 7 business days for PayNearMe to process the application. You will receive an email from Buildium once the bank account has been approved and the integration is complete.

What if I have multiple bank accounts that I need provisioned?

If the next bank account is owned by the same business entity with the same business tax I.D:

1. You will need to repeat the process for each bank account in Buildium that you want to integrate with Retail Cash payments. Each bank account application has a fee of $199.
2. You will need another bank account verification letter specific to the bank account, but you will not need to prepare another signed Schedule-1 form to upload during the application process.

If the next bank account is owned by a different business entity with a different business tax I.D:

1. You will need to repeat the process for each bank account in Buildium that you want to integrate with Retail Cash payments. Each bank account application has a fee of $199.
2. You will need another bank account verification letter specific to the bank account, and you will need to prepare another signed Schedule-1 form to upload during the application process.