StudioPay is Studio Designer's solution to integrated ACH and credit card payments with higher limits and lower fees, as well as in-house customer support. Signing up for StudioPay can be done directly from the Studio Designer app.
- Head to Settings > My Company > Payment Defaults
- Under Link Your Payment Account, locate StudioPay and click Create/Connect StudioPay Account to be redirected to the registration page
- Under Business Overview, select your Business Type (LLC, Corp, etc) and Country to reveal additional fields. The fields displayed will differ based on the Business Type selected; required fields are denoted by a red asterisk (*). In the below example, we've selected LLC.
- Fill out your Legal Business Name and EIN if needed (Sole Propietors may not require an EIN entry if one was not issued). Optionally, you can fill out DBA - Business Descriptor to dictate how charges to your business will appear on your clients' bank statements.
- For Industry, select 1799 – Contractors Special Trade, Not Elsewhere Classified.
- Fill out business contact information. For Business Email, enter the email associated with your Studio Designer account or another email you'd like to use instead.
- For How Does The Business Primarily Take Payments? select Customer Enters Payment Online.
- Under the Business Details section, you can optionally enter a Description for your bank statement. Then, you must specify what the payments processed will go toward. You can enter something along the lines of "Interior design services, sold online" in the What does your business process payments for, and how are goods sold? field.
- In the Annual Processing Volume field, enter the dollar amount of sales you expect to process in a single year. In the Average Transaction Amount field, enter the dollar amount of your average credit card transaction in the previous calendar year.
- Under the Business Address section, verify that the address information synced in and prepopulated from your Studio Designer profile is the legal address for your business; if not, correct it in this section.
- Under the Account Login section, create a Username and Password that you'll be using to access the StudioPay Portal. Treat this information as you would treat bank information. Do not use your Studio Designer credentials.
- Click Next. Before moving your account can be fully set up, you'll need to check the inbox of the email you entered earlier in the Business Email field for a confirmation link to verify your account.
- Under the Owners section, fill out identifying information including legal First and Last Name, Date of Birth, and Social Security Number for Sole Proprietors or each individual, if any, who directly or indirectly owns twenty-five percent (25%) or more of the ownership interest of the Legal Entity in this application or an individual with significant responsibility. Significant responsibility here is defined as VP, CEO, general Partner, other C-level, or someone with legal authority.
- If relevant, add any Additional Owners, or individuals who own 25% or more of the business and click Next.
- Under the Bank section, you can link an existing bank account for faster onboarding using Plaid's online verification tool, or choose to enter manual bank details.
If you choose Enter Information Manually, you'll need the Account Type, Routing Number, and Bank Account Number on hand, as well as a voided check ready to upload (this step can be skipped if you are connecting through Plaid instead). By submitting manual information, you are confirming that the entered details belong to the person or business on the application.
- Click Next to bring up Terms of Service agreements.
- Check the boxes to verify that you've read the agreements, then click Sign Up.