How to set up a Stripe account
Overview:
Stripe is built to process payments for all types of activities, businesses and individuals. When you initially set up your Stripe account it is essential that you select the business type that is applicable.
For example, if you are a Riding Club or a Pony Club secretary, or if you take care of the entry fees for small shows, as you are acting on behalf of a group which is not a registered business, but you are ultimately in control of all the details of this account. So you would select Individual/Sole Trader.
These settings are very important as they will be used by Stripe to identify you and validate your account to make sure your funds are secure. Over time you will be asked to refresh your documents, so please take note of any correspondence sent by Stripe, and remember if in doubt, login to your Stripe account directly rather than using a link provided on an email.
Stripe typically requires the following documents to verify your identity.
one which serves as Proof of Identity
one which serves as Proof of Home Address
Please see below an extract from Stripe's documentation:
"Stripe is required to collect, verify, and maintain identity information on the individuals associated with a Stripe account. These requirements come from our regulators and financial partners, and are intended to promote transparency and prevent individuals from using complex company structures to hide terrorist financing, money laundering, tax evasion, and other financial crimes.
If we are unable to verify your business and/or identity programmatically when you sign up for a Stripe account, Stripe might require a copy of a government-issued photo ID to verify the information manually. If this is the case, you will be notified to log into your Stripe Dashboard and use the notification prompt in the top right corner to upload your documentation."
The original link from Stripe is here:
And here are more details on what type of documents you can use: https://support.stripe.com/questions/documents-for-identity-and-home-address-verification
When inputting your business information into Stripe, please ensure that every box is filled, otherwise the system will bounce back and the attempt will not be successful.
For example, if you do not have a website, you could put a link to a Facebook page instead.
Finally one last thing to remember, if when creating your Stripe account your page is left inactive for a period of time, Stripe will automatically time-out your request, and you will need to repeat the process.
Please see the link below which outlines the information you will need to have to make a successful Stripe connection: https://intercom.help/horsemonkey/en/articles/6463616-what-information-is-needed-to-set-up-a-stripe-account