Onboarding Definitions

Balance Account - A balance account is a resource to hold funds.   All card transactions are processed against a balance account.   

EIN (Employer Identification Number) - A nine-digit number assigned by the IRS.  This is used to identify the tax account.

Governmental Organization - Owned by the government or state.

Incorporated Association - A registered entity without profit that's organized around a purpose such as recreation, culture, or charity.

Incorporated Partnership - An agreement between two or more people who run a business together.

ISIN (International Securities Identification Number - A 12-digit code that is assigned to every security issuance in the world.  This number is used to facilitate the trading, clearing, and settlement of securities, transactions, especially across boarders.  (ie. USXXXXXXXXXX)

MIC (Market Identifier Code) - A 4-character number used to identify stock markets and other exchanges for use in global trading and referencing computer systems.   The first letter of an MIC is randomly allocated followed by a three-digit alphanumeric code for the market in which a trade takes place. 

Non-profit or Charitable Organization - An organization that has an official status as not for profit or tax exempt, sometimes called an NGO.

Private Company - Owned privately.  The shareholders don't necessarily trade on public exchanges (like the stock market).

Public Company - Owned by public shareholders.   They're also required to disclose financial information to the public regularly.