How to Verify Your Identity and Complete KYC Requirements

To comply with financial regulations, Stripe requires all businesses to verify their identity before accepting payments. 

This process, known as Know Your Customer (KYC), helps prevent fraud and ensures legal compliance.

What You Need to Provide:

• Business Information (name, type, address, tax details)
• Personal Identification (passport, driver’s licence, or national ID)
• Bank Account Details (for payouts)

How to Verify Your Identity:

1. Log in to Paydough and Connect to Stripe
2. Follow the Stripe KYC Process
3. Upload Documents as Required
4. Wait for Stripe to Approve Your Verification (usually within minutes, but may take up to 24 hours)

If additional verification is needed, Stripe will notify you via email.

Further reading is found at https://docs.stripe.com/acceptable-verification-documents 

Sole traders:

• Information required: Sole traders typically need to provide personal information, including their name, address, date of birth, and social security number (or equivalent).
• Documentation: A government-issued ID (like a passport or driver’s license) and proof of address (such as a utility bill or bank statement) are usually required.
• KYC checks: Stripe performs light KYC checks, which may include identity verification and risk assessment.
  
  

Limited companies:

• Information required: For limited companies, Stripe collects information about the business, including the company name, registration number, and address. Information about directors and shareholders is also required.
• Documentation: Required documents may include the Certificate of Incorporation, Articles of Association, and identification documents for directors and significant shareholders.
• KYC checks: The KYC process is more comprehensive for limited companies, including verification of directors and beneficial owners.