Why do you require a physical address?
Since we are an online platform that collects, processes, and distributes money in the form of donations from supporters to organizations, we fall under certain regulations, in particular, for US-based organizations, and we are required to abide by the compliance laws that are part of Know Your Customer and the Patriot Act.
One component of verifying a legitimately registered corporation is to require a physical business address.
"Know Your Customer” (KYC) obligations require our payment processor, Stripe, to verify that account holders are operating from the business addresses they provide in their account application. For addresses that Stripe is not able to verify independently, additional documentation may be requested that will allow Stripe to complete the verification process.
Collecting this information helps us streamline donation processing and payouts with our underlying payment processor and the financial institutions that they work with.
More importantly, we have a duty to our users that when they choose to support a cause with a monetary gift, that money is going where they expect it to go!
Please note that Stripe, and therefore GiveGab, are required to comply with any changes to security regulations. Changes in requirements can occur at any time with little notice, at which time GiveGab will communicate these requirements to affected organizations on GiveGab.
Why can’t I use a P.O. Box instead of a physical address?
P.O. Boxes are not an approved address type for accepting online payments through Stripe to be in compliance with "Know Your Customer” (KYC) regulations.
What if my organization cannot provide a physical address for operational or privacy/security reasons?
We understand there are many circumstances in which an organization does not have a physical address, especially when it comes to ensuring the protection of those who use your services. In these scenarios, we ask that you use the address of the organization representative listed on your organization’s GiveGab profile.
Please be assured that the address used to verify your organization within Stripe will never be publicly visible, nor will the address ever be sent any mail.
Where is this data stored after I submit it?
Where can I learn more about Know Your Customer and the information required for compliance?
We have collected a variety of resources for you to read through to learn more about Know Your Customer and complying with these regulations.
Every nonprofit on GiveGab that collects donations opens an account with Stripe through the GiveGab interface. Stripe calls these accounts Connected Accounts as GiveGab manages these accounts on the nonprofit’s behalf. This simply means GiveGab will handle all issues or questions the nonprofit might have regarding their Stripe account and we will work with Stripe directly to resolve any questions that come up. The resource below explains the process in which Stripe verifies Managed Accounts, and why we collect the information we collect: