It's true that some processors do require original documents, but some don't - they are willing to simply take the information and/or photocopies.
I posted a list of processors my company recommends for our school auction customers in this thread a few months ago; I need to amend that to take one name off and put one more back on.
PayPlanner is winding things down; they have told me that they are no longer actively soliciting new customers.
PDX Enterprise Solutions is taking on new school auction customers, and let me consult with them as to how to work with PTOs and Parent Groups. I know they do not require original documentation, and do not require the PTO officers to sign personal guarantees.
I'm happy to share everything I know about credit-card processing and school fundraising (and I've had to learn a whole lot over the last 5 years); either ask questions here, or send me a message through my profile, or email me at roger at schoolauction dot net.
If you want to open a credit card you need original documents as proof of your identity and your address. Photocopy of full passport, your valid driving license, original bank, credit card summary statement.
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credit card processing companies
Here are three merchant-account providers that concentrate heavily on the schools market, and that we send our customers to for merchant accounts. We recommend them solely on the basis of their ability to: understand the needs of schools and school groups; provide decent rates; and provide excellent customer service:
We also recommend Total Merchant Concepts (www.totalmerchantconcepts.com) - they are more of a generalist, but have been excellent partners and take great care of the PTOs and booster clubs we send their way. If you call them, ask for Eric Jenks.
Feel free to use my name and the name of my company (SchoolAuction.net) when speaking with them; it may or may not do you some good, but should help set the context for your discussion.
There are a number of standard merchant-processing companies out there that are happy to work with schools and provide credit-card processing accounts without requiring a personal guarantee from the PTO officers - you usually have to be able to provide two years worth of the PTO's financial statements.
When people are using our software and want to integrate a merchant-account into it, I have a list of these "PTO-friendly" merchant-processors I refer them to. If anyone here is interested, I can send you that list - send me a message through my PTO Today Profile page.
2) The names, addresses and social-security numbers of your PTO President and Treasurer.
Yikes! InnerFence didn't require any personal SSNs -- and I'd have been reluctant to provide it. It may depend on how much info the underwriter can find on your non-profit. We are 501(c)(3), and the state of MA posts all financial filings on the state web site where anyone can download them.
I typed in a bunch of info on the PTO (name, address, EIN, date of incorporation) and my name and title, and that was about it. I faxed them a letter from our bank verifying the account number.
