Approvals & UnderwritingAlso: Employer Identification Number

EIN

A nine-digit federal tax identification number the IRS issues to a US business, formatted 12-3456789. Underwriters use it to confirm a company legally exists and matches the entity named on a merchant application, making it a core document in the approval file.

Most merchant applications ask for the EIN confirmation letter — the CP-575 the IRS sends when the number is issued, or a 147C replacement letter if the original is lost. A mismatch between the EIN, the legal business name and the bank account is one of the most common causes of a delayed approval.

An EIN is a United States identifier, so it does not apply to foreign entities. Canadian businesses supply a Business Number instead, and other international merchants provide their local tax registration — we underwrite all three.

Related terms

Approvals & Underwriting

Underwriting

The review process a provider uses to decide whether to approve a merchant and on what terms. Underwriters assess the business model, documentation, processing history, and risk exposure to set approval, pricing, limits, and any reserve requirements.

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Security & Compliance

Know Your Customer

The verification of a business and its owners' identities during onboarding, required to prevent fraud and money laundering. Complete, accurate KYC documentation is one of the fastest ways to move an application through underwriting.

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Approvals & Underwriting

High-Risk Merchant Account

A merchant account for businesses that banks consider more likely to generate chargebacks, refunds, or regulatory scrutiny. It comes with stricter underwriting and often reserves, but it lets otherwise-hard-to-bank industries accept cards reliably.

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