> ## Knowledge Base Index > Fetch the complete knowledge base index at: https://help.plexflow.ca/sitemap.xml > Use this file to discover available pages before exploring further. > Pure-Markdown content can be obtained by appending a '.md' suffix to the content URLs listed in the sitemap (without the trailing slash). # Opening an owner bank account in Plexflow (company wallet) [Video](https://www.youtube.com/embed/TOjr7HqGuYM?rel=0) ## FAQ **1. If I am not a management company, what should I enter?** You can enter **your personal name** in place of the company name. This approach is recognized for independent owners. **2. Do I have to fill in this information for each of my subaccounts?** 👉 Yes, if your subaccounts correspond to **different bank wallets**, each subaccount must go through its own verification. **3. What should I do if I do not yet have a property tax account (new purchase)?** In that case, you must provide an **explanatory letter** accompanied by an official document such as the **notary’s declaration**, the **deed of sale**, or the **purchase agreement** for the property. Be as precise as possible, because the verification is carried out by a **firm independent of Plexflow**. ## Setting up a bank account in Plexflow (company wallet) When you want to deposit collected rents into the right bank account, it is necessary to set up the company bank wallet and to complete the **bank verification**. This step is mandatory in order to activate the deposits. Under a new Canadian regulation, the **bank verification** step is now **mandatory** in order to receive payments by pre-authorized debits (PAD). ⚠️ This verification **is not carried out by Plexflow**, but by a **company authorized to make bank withdrawals**. Plexflow therefore does not control the process or the timelines. ### Step 1 – Select the subaccount or the company concerned - Access the Plexflow **main account**. - Select the **subaccount** or the **company** in which you want to activate the wallet. ### Step 2 – Access the integration settings - Click the 👤 icon at the top right of the screen, then select **Profile**. - In the **Account** tab, locate the **Verify for payments** option. ### Step 3 – Start the verification - Click **Complete verification**. - A form in **3 sections** is displayed. ### Step 4 – Complete the three sections The form is designed according to the **main account / subaccounts** logic. Here is the structure: ![Management company form structure](https://storage.crisp.chat/users/helpdesk/website/-/9/9/5/a/995a701e47028800/societe-de-gestion_66en5w.png) ### Section 1 - 4.1 Management company (Main account) - **Legal name of the management firm or parent entity** ➝ This name must correspond exactly to the information registered with the **REQ (Registraire des entreprises du Québec)**. ➝ If you act as an **independent owner**, you can simply enter **your personal name**. - **Primary business address** of the business. - **Phone** for questions related to the account. - **Email** for the signature of the contract. - **Void cheque** of the main management account. ### Section 2 - 4.2 Owner information (Subaccount) - **Landlord name** associated with the subaccount. - government-issued identity documents that include your full name and your residential address. - Indicate whether the administrative contact is different from the landlord. If an authorized signatory is also required, complete those fields. ➡️ **If you answer “Yes” to one of these questions**, you will have to provide the following information: - **Name of administrative contact*** - **Administrative contact's ID with address*** - **Second piece of ID – Administrative contact*** ### Section 3 - 4.3 Banking information (Company wallet) - **Company Name** as registered with the REQ. - an abbreviated name for tenant bank statements (max. 15 characters, no special characters). ➝ This name corresponds to the one that **will display on tenants’ bank statements** during **rent collection by PAD**. - **Physical address of one of the properties**. ➝ Only one is requested - **Property tax bill for the property above**. ➝ A single account for all of the properties is required. - **Void cheque** in the name of the account holder. - **REQ number (if applicable)**. - Indicate whether the bank account is in the name of a third party (e.g. a client). - **Number of units under management**. 👉 Example: **Gestion Immobilière Inc., REQ #1178654321.** ### Step 5 – Finalize the verification - Check that all supporting documents are attached (cheque, identity documents, etc.). - Submit the form. ⚠️ **Important note:** The validation process can take up to **5 business days** before it is accepted. ### Step 6 – Signature of the contract and activation - Once the verification is completed, a **contract** will be sent to you by email for **electronic signature**. - As soon as the contract is signed, your **account is activated**. - From that moment, your **wallet is valid** and you will be able to receive tenant payments directly into the configured bank account. ## Are there any fees* associated with the PAD payout method? - **Monthly fees:** None - **Transaction fees:** $0.99 per transaction - **Refused payment:** Additional fees apply according to the return code: **List of return codes and applicable fees:** - 900 – Validation rejection: $5 - 901 – Insufficient funds: $25 - 902 – Account not found: $5 - 903 – Payment stop: $5 - 905 – Account closed: $5 - 907 – No debit permitted: $5 - 908 – Funds not cleared: $25 - 910 – Payer/beneficiary deceased: $5 - 911 – Account frozen: $25 - 912 – Invalid/incorrect account number: $5 - 914 – Incorrect payer/beneficiary name: $5 - 915 – Refused/no agreement: $5 - 916 – Non-compliance with agreement (P): $5 - 917 – Agreement revoked: $5 *All fees are subject to change without notice.