It would make things a million times easier if your members could pre-register for events and pay their registration fee and renew dues on your website. Click click click, enter in the credit card information, and it just WORKS. The money is in your association’s account and you can move on with your planning and budgeting.
You’re probably expecting me to say now, “It’s not that simple…” but truly, it is. You just have to establish a relationship with a payment processor (such as our preferred payment processor, Moolah Payments!) There is an application and approval process, and then it’s just a matter of establishing a gateway between your website/AMS, the processor, and your bank.
To get you started, here’s what you’ll need to get started on your application:
- Address of your association
- Average transaction sizes, including minimums and maximums (What’s the most you’ll be paid?)
- Your monthly volume (How much income can you expect in a month?)
- Annual volume
- Banking information for association accounts. (A blank check is the easiest way to get this information)
- Your IRS nonprofit letter
- Your signer, or the primary person on your account’s information
- IRS W-9 form
To help you out with the rest of the process, download our handy guide to payment processing for Small Staff Associations! We have detailed the application process, defined some key terms (what the heck is a “gateway” anyway?) and outlined some important fees to look out for and consider.
Happy payment processing!