If your accounting feature is activated you can proceed to your Autopay application. The application does expire after a short amount of time so please make sure you complete your application in a respectful time.
Once the application is complete, it takes Vopay (the payment processor who is reviewing the application) 5 business days to review and approve your application. They may have follow up requests after submitting the application.
KYC Compliance: The Know Your Client (KYC) form is required in order to comply with FINTRAC laws for anti-money laundering and anti-terrorism.
Complete the form: The KYC form will ask for information on how your business operates and who the individuals are that have an interest or are key individuals in your business.
Connect bank account: It is important to connect the bank account that matches your company name. This bank account can be used for billing and autopay if desired. You can connect other bank accounts after your application is approved.
ID Verification: After you add emails for key individuals, they will receive an email to complete their ID verification. All ID verifications will need to be completed prior to being able to accepting the terms of service and submitting the KYC.
Accept Terms of Service and submit KYC: After completing the KYC form it will go through a verification and review by VoPay. This can take up to 5 business days before your autopay will be activated.
In order for your Autopay to be set up for the next 1st of the month your application will need to be submitted prior to the 20th of the current month. This is to allow review times from Vopay as well as bank account linking and resident bank details being entered into the system.
Resident Invitations:
During the application process, you will be asked if you want to invite all of your residents to sign up. If you select this option, please send a message informing them of the incoming trusted link. If you do not select this option, you will need to manually invite each resident individually after Autopay is approved.
Banking:
Once your application is approved, you will need to link your bank accounts in Propra. Vopay will be asking for your bank details in the application, this is for your property management operating account, not the property rent trust account.
FINTEC is required to follow strict regulations to help prevent money laundering, fraud, and terrorist financing. That’s why they ask for certain documents and details — to verify identity and ensure all transactions are secure and compliant with the law. You will be asked to verify your email from [email protected]. If you do not see this email in your inbox, please check your spam or junk folder.
These steps protect everyone involved and are standard in the financial industry.
The types of documents you will need for the application are:
Operating Bank - This is the bank for your company (the one that receives the revenue for the business, not the property)
Tax
Government Issued Personal Identification
Bank Statements (Description of funding - Proof that funding is coming from customer money)
Ownership Structure (Shareholder agreement)
Regulatory Registration (Business registration)
Registered Directors (You can skip this if you upload documents for shared ownership)
W9 - If you are a Canadian resident, you can skip this document
*A statement descriptor is the text that appears on a customer's bank statement for a transaction. It identifies the business and the transaction.
Example: Propra Tech Software
If you have any questions, please reach out to support - [email protected]