To ensure the security and efficiency of your Stripe account, Stripe is implementing updates to their verification requirements for accounts in the US and Canada. Updates to your account information must be completed by August 19, 2024. This article will guide you through the process of updating your information and address frequently asked questions to assist you further.
Why Update Your Information?
Keeping your account information up to date is crucial to ensure uninterrupted transactions and comply with the latest verification standards. Failure to update your information may result in paused payouts to your bank account and the inability to accept payments.
How to Update Your Information
- Log in to Aplos
- Navigate to the Merchant Center (Donations -> Merchant Center) or Banking Center
- A banner will be displayed with a link to update your information
- Select “here” and follow the prompts to update
Frequently Asked Questions (FAQ)
Q: Why am I being asked for information about who owns and manages my company?
A: In certain countries, Stripe is required to collect, verify, and maintain information about a company’s beneficial owners and directors. These requirements come from government regulators and help promote transparency and prevent financial crimes.
Q: What happens if I do not update my information by the deadline?
A: If you cannot update your account information by the deadline, settlements to your bank account and your ability to accept payments will be paused.
Q: How long does the verification process take?
A: Stripe will review any new information, and in most cases, we’ll know within 24 hours if more information is needed for verification. However, more complicated reviews may take 2-3 business days.
Q: How can I contact Support for assistance?
A: If you encounter any difficulties or you are still seeing the banner more than 5 days after submitting the information, our Support team is ready to assist you at support@aplos.com.
