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Guide to Stripe's Newest Requirements

Learn about Stripe's recently updated requirements for organization representatives.

Bekah K. avatar
Written by Bekah K.
Updated this week

Overview

  • Know Your Customer (KYC) requirements are frequently updated by financial service regulators, card networks, and other financial institutions.

  • Recent updates require additional information about Organization Representatives to be verified through Stripe, therefore, GiveGab.

  • Payment regulations like these aim to create a safer, more secure financial ecosystem by helping prevent crimes, including money laundering, fraud, and tax evasion. New organizations will be prompted to provide this additional information through our regular verification process.

  • Previously verified organizations with outstanding requirements must provide this information to have their verification status reinstated.

Newly Required Information

  • Going forward, all Organization Representatives must provide the following information if they have not already:

    • full Social Security Number (SSN) or government-issued ID

    • full Legal Name

    • personal address

    • Title

    • E-mail Address

    • Phone Number

    • Business Website

Communication Plan

  • E-mails are sent twice a week once Registration opens through your Giving Day.

  • E-mails are typically sent on Mondays and Wednesdays and include a link to the organization's bank account page where these updates can be made.

Tips/Best Practices

  • When entering details through the portal, we recommend that organization admins not click back into the form once it has been submitted. It can take a few minutes for the updates to process, and re-clicking the 'Update Required Information' button will reset the Organization Representative to information, which will need to be re-entered.

  • If verification takes longer than a few minutes, we recommend reaching out to our Support team via the blue chat bubble.

  • We encourage you and your team to forward any questions you may receive about this process to GiveGab's support team at support@givegab.com.

Support articles to share with organizations

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