Verified Badge on Profiles

The presence of a verified badge on your profile serves as an assurance to your visitors that your account is authentic. This verification not only fosters trust in your name but also contributes to improved engagement rates on your profile. It’s important to note that the verified badge does not imply RateCards’ endorsement of your profile, nor does it make RateCards liable for any services you may advertise through it.

Eligibility for a verified badge on RateCards is subject to meeting specific requirements, determined through our internal verification process. Notably, being a recognized business with verifications and adherence to our community standards. This enhances your likelihood of receiving verification.

Introduction:

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The verified badge on RateCards profiles serves as a powerful indicator of authenticity, fostering trust among visitors and contributing to increased engagement rates. However, it’s crucial to understand that the badge doesn’t imply RateCards’ endorsement of the profile or make the platform liable for advertised services. The verification process is thorough, and eligibility depends on meeting specific requirements through internal verification.

Verification Process:

To initiate the verification application, applicants can click on the provided link. The internal review process takes up to five business days, after which applicants are promptly notified. The diligence in assessing applications ensures the overall safety of the RateCards community.

National Database and Documentation:

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RateCards uses a national database to confirm business or personal information. In cases where information is missing or incomplete, applicants may be required to submit specific documents for verification. The list of acceptable documents for registered businesses includes proof of business identity, address, and existence.

Identity Verification

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Proof of Business Identity 

A document that confirms your business entity’s Employer Identification Number (EIN). The business name on this document must match the full business name on your RateCards account. 

Acceptable Proof of Business Identity documents: 

• Copy of IRS Letter assigning EIN
• Screen print of EIN assigned real-time during online application
• Previous year’s business tax return, prepared and signed by 3rd party preparer
• Current bank statement displaying truncated EIN (Dated within last 12 months)
• Current credit card statement displaying truncated EIN (Dated within last 12 months)
• Other government-issued documents displaying full business name and 9-digit EIN (Dated within last 12 months)

Unacceptable documents: 

• Self-completed applications
• Self-prepared tax documents
• Expired, partial or obscured documents

Proof of Business Address

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A proof of address document that confirms your business entity’s correspondence address. We can only verify physical addresses, not PO Box addresses. All documents must be dated within the last 12 months.

Acceptable Proof of Business Address documents:

• Current utility or phone bill (from the past 12 months)
• Current insurance or tax statement (from the past 12 months)
• Government-issued business license/permit (must have been issued in the last 12 months)
• Current Certificate of Good Standing (Active Status)
• Current bank statement displaying full business name (from the past 12 months)
• Current credit card statement displaying full business name (from the past 12 months)
• Other registration document filed with Secretary of State (i.e. Certificate of Incorporation, Partnership Agreement, or comparable business registration document)

Unacceptable documents:

• Envelopes
• Invoices, receipts, all waybills
• Expired, partial or obscured documents

Proof of Business Existence

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A current document issued by the Secretary of State (or equivalent agency) showing that a business entity has complied with the applicable provisions of the laws of the state, is in good standing, and is authorized to transact for business. The business name on this document must match the full business name on your RateCards account.

Acceptable Proof of Business Existence documents:

• Government-issued business license/permit
• Current Certificate of Good Standing (Active Status)
• Other registration document filed with Secretary of State (i.e. Certificate of Incorporation, Partnership Agreement, or comparable business registration document)

Note: All documents must be dated within the last 12 months.

 

Commercial Entity Agreement & Beneficial Owner Verification

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Commercial Entity Agreement

The Commercial Entity Agreement is a requirement of our bank partners to process Visa card-funded payments for businesses under the card network rules. No additional documents are required to complete this agreement, but registered businesses will be asked to read and agree to the Commercial Entity Agreement in addition to providing Beneficial Owner information.

 

Beneficial Owner

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For affected registered businesses, the following information is required for each individual that falls under the definition of Beneficial Owner:

1. Full name
2. Date of Birth
3. Residential/Home Address
4. Nationality
5. Percentage of Ownership >25% (does not apply to Control prong)
6. Social Security Number (or passport/ID number for non-US citizens)
7. A Photo ID for each beneficial owner

Acceptable forms of photo ID:

• U.S. passport
• Driver license
• U.S. government-issued ID
• DHS card
• Tribal ID card

Acceptable Proof of Address documents:

Note: Documents must display a date within the last 36 months

• Utility bill
• Credit card statement
• Insurance document
• Tax statement

Conclusion:

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The verification process on RateCards ensures a trustworthy environment for users. By adhering to specific requirements and providing the necessary documentation, businesses can enhance their credibility and build trust with the RateCards community.