2024 updates to US verification requirements FAQ : Stripe: Help & Support (2024)

FAQs

What are the requirements for Stripe US verification? ›

SSN or ITIN for US resident representatives

Last 4 digits required at onboarding for all connected account types. If the last 4 digits fail verification, representatives will need to provide the full 9 digits. If the full 9 digit ID number fails verification, representatives will need to upload an ID document.

Stripe ensures the security of verification data through encrypted connections, access controls, and by limiting access to only those who require it. Stripe will only use your verification data in accordance with the consent you granted before starting the verification process and our Privacy Policy.

If we are unable to verify your business and/or identity programmatically when you sign up for a Stripe account, we might require a copy of a government-issued photo ID to verify the information manually.

Stripe requires customers to provide their SSN and personal information for identity verification and regulatory compliance purposes. The company stores this information securely using industry-standard encryption methods and limits access to authorized personnel only.

If unable to verify your identity programmatically, you may be asked to upload a government-issued photo ID through the secure Stripe Dashboard. In certain countries, Stripe is required to collect, verify, and maintain identity information on the individuals associated with a Stripe account.

Stripe implements reliable security measures including encryption, tokenization, and adherence to industry standards like PCI DSS, SOC 1 & 2, ISO 27001, HIPAA, and PSD2 and GDPR to ensure transactions are protected.

Stripe builds technology that's used by millions of companies around the world such as Amazon, Google, and Zoom. Stripe helps with everything from accepting payments to managing subscriptions to verifying identities.

Is Paypal safer than Stripe? Both Paypal and Stripe prioritize security, offering encryption and fraud detection. It ultimately depends on your preference and the specific needs of your business.

To open a Stripe account as a non-US resident, you'll need to follow a few steps. First, you'll need to form a business in the US, such as an LLC. Then, you'll need to obtain an Employer Identification Number (EIN) or Tax ID, a US business address, a US phone number, and a US bank account to link to Stripe for payouts.

How long does Stripe identity verification take? ›

To verify this information, individuals must provide proof of identity and proof of home address, ensuring that the documents meet specific requirements such as being in color, clear, and not expired. These documents must be uploaded through the Stripe Dashboard, and reviews can take up to 24 hours to complete.

Stripe must review an official document that confirms that the Stripe account owner and bank account owner names match, as well as the last 4 digits of the account number. Most commonly, this requirement can be satisfied by submitting one of the following: A bank account statement. A voided check.

This process is similar to a bank teller confirming that the photo on your ID document is you based on your appearance—but it's a higher-tech and more accurate way to identify you as a unique person. Stripe collects your name, date of birth, and government ID number, and validates that it's real.

During the calendar year, Stripe keeps track of your earnings from online sales. If you receive more than $20,000 and have over 200 transactions for the year, Stripe reports your earnings to the Internal Revenue Service (IRS).

This information is required as part of Stripe's mandatory identity verification requirement: Stripe must collect, verify, and maintain information on the individuals associated with every US Stripe account, as required by our regulators and financial partners.

To have a US Stripe account, you must be incorporated in the US and have a valid physical US address. Stripe will verify your legal entity name, entity type, EIN, and business address on your articles of incorporation or other documents. P.O. Box addresses are not accepted.

A passport scan for identity verification is always preferred and, in some cases, is required. When a Stripe account and an individual associated with that Stripe account (for example, Business Representative, Owner) are from different countries, Stripe only accepts a passport to verify identity.