Merchant account guide: TeamSnap for Business

This article details the essential steps to create and verify a merchant account for processing payments and managing bank deposits in TeamSnap for Business.

Merchant account setup

To facilitate payment processing, an organization admin must set up at least one merchant account. The same merchant account information can be added to all seasons within a program for streamlined invoice payments. Alternatively, different merchant accounts can be assigned to each season if preferred.

Registration: Setting up a merchant account in the organization Settings tab

1. Log into your organization account.

2. Navigate to the Settings tab and click the Merchant Accounts sub-tab.

   

3. Click Create Account and provide the required information. Each field is mandatory to comply with financial regulations and ensure account security.

   

4. Click Create. You will be redirected to our secure payment processing partner, Stripe, to create your merchant account.

   

Registration: Setting up a merchant account within a registration form

1. Once you get to the Checkout Settings step, click +Add a merchant account.

2. Complete the necessary information, ensuring all fields are filled per federal requirements. 

   

3. Click Create. You will be redirected to our secure payment processing partner, Stripe, to create your merchant account.

   

Invoicing: Setting up a merchant account in the season Financials tab

Merchant accounts must be created in the Financials tab to direct payout deposits for invoice payments that are collected.

1. Navigate down to the desired season.
2. Click the Financials tab.

3. Click the dropdown and then click +Add a new deposit account.

   

4. Complete the necessary information, ensuring all fields are filled per federal requirements. 

   

5. Click Create. Your merchant account will appear in the merchant account list

6. You will be redirected to our secure payment processing partner, Stripe, to create your merchant account.

   

Verifying your merchant account

1. Log into your organization account.
2. Navigate to the Settings tab and click the Merchant Accounts section.
3. Click on the available link below the status to proceed with either Connect bank account or Verify account for Stripe’s verification process.

   1. Stripe's review will redirect you to log in through Stripe to complete their hosted onboarding. This process will take a few minutes.

      

   2. The verification process includes entering bank account details for payouts and undergoing Stripe’s review before returning you to TeamSnap.

      

   3. If interrupted during verification, the process can be resumed later.
   4. If the account is unable to be verified using the information given, you can add a new merchant account.
   5. Once the account has been verified, payments can be processed.

Payment processing time

The default frequency for your cleared deposits is on a two-day rolling basis, once every business day. This means that every business day, payments processed two days prior are bundled for deposit, so payments received on a Tuesday are paid out by Thursday, and payments received on a Friday are paid out by the following Tuesday.

*Payment processing times can vary based on payment type

Setting up multiple accounts

You can create additional merchant accounts using your Stripe login information to process payouts for different registrations to separate bank accounts.

Resolving merchant account errors

You may receive errors when creating your merchant account that require additional information or some kind of action. Our secure processing partner, Stripe, will direct you through the process of resolving these items.

For any questions or additional assistance that you need, please contact payments@teamsnap.com to get in touch with our payments support team.