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 become verified through Stripe, and therefore GiveGab.
Payments regulations like these aim to create a safer, more secure financial ecosystem by helping prevent crimes such as 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 will need to 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 or Government Issued ID (if identity cannot be verified with the last 4 digits of the SSN alone OR if the organization has collected over a certain amount of money historically)
Full legal name
Personal address
Title
Email address
Phone number
Business website
If a full Social Security Number is requested, there is no workaround available
Communication Plan
Emails are sent twice a week from registration open through your giving day.
Emails 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 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 cause the organization representative to reset and need to be reentered.
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. We're here to help!