New client onboarding (with FINTRAC)

In this guide, we’ll walk through the complete onboarding journey from the perspective of a brand-new client after signing up for Wagepoint.

This article covers a revised and improved FINTRAC-compliant client onboarding process that was implemented on December 1st, 2025. You can find more information about FINTRAC and why these changes are happening here.

 

Set up your account

1. Company Info

In your account, navigate to the Company > Company info tab. Here you will be able to fill in the details of your company.

• Legal company name – defaults to the company name you entered when you signed up for your Wagepoint account. This should be the legal name used on incorporation or business registration documents with the government. 

• Doing Business As (DBA) – if your business conducts transactions under a name that is different from the official name of the company or the sole proprietorship. This could also be the business name associated with your company’s bank account, if different from your legal company name. The DBA is what will show on tax forms like the T4

• Contact email – enter the email address for your company’s  primary payroll administrator. This may be different from the email address used to create an account in Wagepoint. We don’t send any notifications to this email address. 

• Phone number – enter the phone number for your company’s primary payroll administrator. 

• Company address – enter the address details for your company’s headquarters. 

• CRA payroll account number – enter your payroll account number provided by the CRA, which follows the format i.e. 9-digit business number + RP + 0001 e.g.  123456789RP0001. This is the account to which the source deductions are remitted based on your remittance schedule.  

• Revenu Quebec (RQ) payroll account number – if applicable, enter your payroll account number provided by RQ, which follows the format i.e. 10-digit business number + RS + 0001 e.g. 1234567890RS0001. This is the account to which the provincial source deductions for Quebec are remitted based on your remittance schedule.  

• Revenu Quebec (RQ) employer HSF rate – if you would like Wagepoint to remit your contributions to the Health Services Fund, enter your company’s HSF rate as provided by RQ. Learn more

• Remittance schedule – select the remittance schedule that applies to your company, based on your average monthly withholding amounts (AWMA) over a 2-year period. Learn more

  • Non-accelerated

    • Remittances are paid monthly

    • Remittances/payments for new or regular remitters are due the 15th day of the month following the one in which you made the deductions.

  • Accelerated threshold 1 

    • Remittances are paid twice a month

    • Remittances/payments for Threshold 1 remitters are due the 25th day of the same month for payroll processed in the first 15 days of the month. For payroll processed after the 16th day of the month, remittances/payments are due by the 10th day of the following month.

  • Accelerated threshold 2 – 

    • Remittances are paid weekly

    • Remittances/payments for Threshold 2 remitters are due no later than the third working day (not counting Saturdays, Sundays, or public holidays) after the 1st-7th, 8th-14th, 15th-21st and 22nd-last day of the month. In other words, no later than the 3rd business day after the week in which the payroll was processed.

• Canada Dental Care Plan T4 Box 45 - select the appropriate code for Box 45(T4) and/or Box 015(T4A) based on your company's offerings. This will update all the tax forms(T4/T4A) at once so you do not have to update your employees individually. The field will be available to edit when the year-end review period opens. (Select not eligible if you are unsure of this, and make sure to update it before T4S are created)

  For further information on Box 45(T4) and Box 015(T4A) please see the Canada Revenue Agency's article about T4 Slips.

2. Business Details

• In The Company tab below the Company info section you will find the new Business Details section. 

1. Select is the account type: Business or Personal. 

Personal will be selected if this Wagepoint is being set up to pay a Nanny or a caregiver. For all other types of business, you will select the Business option.

2. Select the business type. If you chose Personal as the account type, then this is pre-filled, and you are done with the business details section. 

   Business type: 

   1. Corporation
   2. Partnership
   3. Not-for-profit
   4. Sole Proprietor
3. Incorporation type: For Corporations only, indicate whether the incorporation type is Federal or Provincial.
4. Business number: This is a 9-digit identifier for your client's business, also used in your CRA account number.
5. Industry subsector: Select the best fit category for your client's business.
6. Main business activity: Select the best fit category for your client's business. The options available in this drop-down menu depend on your selection for Industry subsector.
7. Business description (Optional): Enter a brief description of your client's business. You can use up to 256 characters.

8. For corporations, partnerships, and sole proprietors, enter any beneficial owners. A beneficial owner is someone who directly or indirectly owns 25% or more of the company. 

• Indicate if any individual owns 25% or more of the company.

• If yes, proceed to click on the Add Beneficial Owner button

• Fill in all required fields and click Save

• Add as many Beneficial owners as needed (individuals who own 25% of the company or more) 

9. For all business types, add all current directors of the company. 

• Under Directors, click Add director.

• Fill in the Director's First and Last Name and click Save

• Once all the information has been added, click Save Changes to finalize it. 

3. Add the Signing Officer as an Administrator

Before you can complete the banking setup up you will need to make sure the signing officer of the bank account is added as an administrator to the account. If you are not the signing officer, you will need to do one of the following:

Enable administrator access for select employees

Employees with administrator access will be able to see all personnel records, including banking details for the company, employees, and contractors. Administrators also have the ability to process and approve payroll.

Only company administrators can create administrators by changing an employee's access level in the User Accounts tab.

1. In the navigation bar, click Settings.

2. Under Settings, select Account Settings.

3. Go to the User Accounts tab.

4. Locate the relevant employee in the list. In the Actions column, click Edit.

5. Under Access level, use the drop-down menu to select Administrator (or whatever administrator role you'd like to assign).

6. Click Save Changes.

The employee is now assigned an administrator role. The next time the employee logs into Wagepoint, they can access the company account as well as their employee account using the same login credentials.

Setup a non-employee administrator

Note that only company administrators can request the addition of a non-employee administrator.

Submit a written request to our customer support team at [e-mail] with the full name and email address of the person you wish to add to your company account as an administrator.

4. Add The Company Bank Account

Banking details should be entered by the signing officer for your company. Note: the signing officer has to be setup as an administrator with access to the company’s Wagepoint account. (see instructions above)

1. Navigate to the Banking > Banking info tab.
2. Bank name – select your bank from the list of options. Note: all bank names may not be listed. As long as the 3 digit code you have entered matches the void cheque, you can disregard the name of the bank listed by the system.
3. Transit number – enter the 5-digit transit number associated with your company’s bank account. This information can be found on your company cheque or online if you have online banking setup for your company.
4. Account number – enter the 5-17 digit account number associated with your company’s bank account. Do not enter any spaces on dashes. This information can be found on your company cheque or online if you have online banking setup for your company.
5. Click the checkbox to confirm that your company bank account is registered as a business account with the bank.  Note: if a personal bank account, please still check mark this to allow the info to save and the process to begin.  Our Risk & compliance team will see that it is not a business account and will make the necessary adjustments
6. Upload a copy of a void cheque (.pdf format only). The information on the void cheque should match the bank account details entered in Wagepoint. Note: we also accept e-void cheques and pre-authorized debit forms from the bank if you do not have a physical cheque. 
7. Bank information - Phone – (not required) enter the phone number to contact your bank’s branch. Our Risk & Compliance department will use this information to contact your branch if we are unable to verify your identity and bank account. 
8. Bank information - Address – (not required) enter the address of the bank branch associated with your account.

Note: the total payroll funds (amount of which can be found in the Reports Invoice tab for each payroll) will be collected from your bank account when your payroll is finalized i.e. three (3) business days prior to your desired pay date if you have direct deposit or remit taxes enabled.

Note: for Non- business account (Personal) the above will be five (5) business days prior to your desired pay date if you have direct deposit enabled

5. Add An Authorized Signatory 

The next step is to add the Authorized signatory information. 

1. Select the Authorized signatory from the list of admins and fill out all their require information.
2. Upload a front and back image of a Government-issued Photo ID 
3. Click the checkbox to agree to the terms of our pre-authorized debit (PAD) agreement. Note: a copy of your PAD confirmation will be made available once you save your bank account information.
4. Save changes to complete the setup of your company's bank account and Authorized Signatory details. 

6. Verify The Company Bank Account

Important Note: You cannot process payroll until your account has been verified. Please allow at least seven (7) business days before your first payroll to setup and verify your bank account. 

1. Navigate to the Banking > Account verification tab. 
2. Bank account verification in Wagepoint is a 2-step process. The first step involves validating your account via a micro-deposit and the second step involves verifying your identity and bank account details using Yodlee, an FFIEC supervised technology service provider.
3. Micro-deposit – after you save your bank details, we send a small amount to your bank account. It takes a minimum of two (2) business days for the micro-deposit amount to show up in your company’s bank account. Note: if the micro-deposit is entered incorrectly an email will need to be sent to [e-mail] to get this step unlocked.
4. Once you have the micro-deposit amount, navigate to the Banking Account verification tab and enter the micro-deposit amount, without the dollar ($) symbol.
5. Click “Complete validation.” You will now be able to proceed to the second step of verifying your account using manual verification.
6. Sign the manual verification form and send it to your bank. Your bank will then reach out to Wagepoint.
   • The English manual verification form can be found here.
   • The French manual verification form can be found here.
7. Please allow 2 - 3 business days for our Risk & Compliance department to review results of the verification checks. 
8. Once your account and identity has been verified, you will receive an email confirmation that the verification has been completed successfully. 

Note: For an existing account in good standing, your account will be approved after you enter the micro-deposit amount. New clients must follow the steps above to complete the micro-deposit and manual verification.