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Bank Account & Identity Verification At Stripe

Why do I need to register with Stripe?

Stripe processes incoming payments (donations) and pays them out to you. To receive the donations, you need to verify some data. You do this from your WhyDonate account.

Stripe is supervised and licensed to offer payment services. From legislation, it has an obligation to register and verify the recipients of funds. Without successful verification, Stripe may not make disbursements.

What is required for this verification?

To verify your account, the following information can be requested:

Private Account
- First and last name.
- IBAN of the account you wish to be paid to.

Company account
- Chamber of Commerce number of the organization acting as the recipient of the funds.
- IBAN of the organization's business account.

Additional information may be requested if the total amount collected exceeds €1,500:
- A copy of your ID or confirmation of your identity.
- A completed UBO statement from the organisation.
- ID proof or online identification of the legal representative.

How long will it take for my information to be verified?

After you send all the required information, Stripe usually verifies customers within a few hours. During this time, donations can already be made. However, disbursement of these donations can take place after approval of the submitted information. If any data is missing, you will be contacted by email.

Updated on: 17/04/2024

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