Adding your bank account to your profile on KWIPPED will expedite payments for your rentals. Direct deposits will arrive 3-5 days after KWIPPED receives payment from the renter, as opposed to 7-10 days if payment is sent by check. You can add your bank account by clicking on “Settings -> Payment Center”.
In order to maintain compliance with federal regulations, KWIPPED is required to verify your bank account against personal information about the legal entity associated with the account. This may require that you enter your business EIN (Employer Identification Number) and/or part or all of your personal ID or Social Security number into our secure and encrypted platform.
For more information regarding the US Financial Crimes Enforcement Network (FinCEN) regulation, often referred to as “Know Your Customer Requirements”, click here: https://www.federalregister.gov/documents/2016/05/11/2016-10567/customer-due-diligence-requirements-for-financial-institutions