Hiya,

(I’ve searched the forum but can’t find anything so sorry in advance if it’s already been answered).

My Vendors are currently connecting their bank accounts to Stripe (yay!)

However, one has spotted this in the Stripe T&C’s and I just wondered if anyone else has had experience of Stripe contacting their vendors to get additional information to prove their identify?

‘To verify your identity, we will require additional information including without limitation your company registration number, your VAT number and, if applicable, your date of birth. We may also ask for additional information to help verify your identity and assess your business risk including business invoices, a driver’s licence or other government issued identification, or a business license. We may ask you for financial statements. We may request for your permission to do a physical inspection at your place of business and to examine books and records that pertain to your compliance with this Agreement. Your failure to comply with any of these requests within five (5) days may result in suspension or termination of your Stripe account. You authorise us to retrieve additional information about you from third parties and other identification services. After we have collected and verified all your information, Stripe will review it and determine if you are eligible to use the Service. Stripe may also share your information with the Designated Bank, which may also make a determination regarding your eligibility. We will notify you once your account has been either approved or deemed ineligible for use of the Service’

Many thanks,

Karen