All Collections
All About Payments
Why paying over $100,000.00 requires additional verification?
Why paying over $100,000.00 requires additional verification?

Verifying your identity for large ACH payments.

Omri Mor avatar
Written by Omri Mor
Updated over a week ago

The Routable team is committed to providing a secure experience for our customers. Below is a quick explanation for when and how we'll ask for additional entity information. 

Why is a one-time verification necessary?

When you pay a Routable user over $100,000.00, Routable is legally required to verify your business and/or identity prior to processing the transaction.

This one-time verification helps to prevent fraud and assures a secure experience for both you and your payee.

Once verified you will be able to make payments over $100,000 to any Routable user for the rest of your business relationship. Remember, you only need to verify once ✅

Will a Routable representative reach out to me?

That's correct. 

A Routable representative will reach out to you (via email) to verify provided business information and your identity.

The process itself takes no longer than 5-minutes.

What is asked from my business for this verification process?

If you represent a business, we will ask you to provide the following information:

  1. Company EIN - An Employer Identification Number (EIN) is also known as a Federal Tax Identification Number, and is used to identify a business as a legal entity in the United States.

  2. Authorized Representative SSN (Last 4) - It is important to verify that the individual who makes a payment is indeed an authorized representative of that entity. To do so, we will ask for the last four digits of your social security number (i.e. 9999).

If you are a sole-proprietor or an individual, we will ask for your SSN to be used for verification.

Note: The entity verification process is handled by Routable's third-party payment processing partner

Sometimes additional verification is needed...

In the event that our payment processor deems the provided information (EIN, SSN) insufficient we may ask your for additional documents 📄 to verify your business and/or identity. 

If you represent a company: Business Identifying documents can include the following:

  • Partnership, General Partnership: EIN Letter  (IRS-issued SS-4 confirmation letter).

  • Limited Liability Corporation (LLC), Corporation:  EIN Letter (IRS-issued SS-4 confirmation letter).

  • Sole Proprietorship: one or more of the following, as applicable to your sole proprietorship:  Fictitious Business Name Statement, EIN Letter  (IRS-issued SS-4 confirmation letter), Color copy of a valid government-issued photo ID (e.g., Passport, License, or ID Card).

If you are an individual (independent contractor): a scanned photo of the Customer’s Passport, License (state issued driver’s license), or ID Card (other U.S. government-issued photo id card).

What happens after the one-time verification?

You may continue to do business with no amount limits on payments, and no more verification 😊

If you have any questions about this process, please reach out to us at 

Did this answer your question?