Please see Important information about Silicon Valley Bank for the most up-to-date guidance, including information about payouts. The following article contains information aimed specifically at Atlas users.

After the FDIC takeover of SVB, the HSBC purchase of SVB UK and the New York DFS takeover of Signature Bank, Stripe paused some money movements to and from these banks due to their services being unavailable or unreliable. The situation is evolving rapidly and Stripe is starting to resume money movements. Stripe's money movements with other banks are unaffected and are still operating normally. We'll keep updating this page as events unfold.

Atlas is here to guide you through the next steps with regard to your business banking and Stripe account.

Do I need a new bank account for my Atlas company?

Please see more information about the status of past and future payouts with respect to SVB and SB, and for guidance on whether you'll need to switch the external bank account linked to your Stripe account.

Can Atlas help me choose a new bank?

Atlas partners with two startup-friendly banking partners: Mercury and Novo (more information about banking partners). Atlas has worked with Mercury and Novo to provide Atlas companies with priority access to opening a new account. However, to open an account, users will need to be separately approved by these banking partners.

You can also choose to use any other bank, such as JP Morgan Chase, Bank of America, Wells Fargo or PNC. In addition, your personal bank will often offer business services. Digital banking services such as Wise and Novel can support companies without a US-based founder and provide account options that qualify for FDIC insurance.

You can apply for a new bank account at any time, and can find the documents that most banks require (such as your company's Articles of Incorporation or Certificate of Formation and Tax ID forms) on the Documents tab of the Atlas Dashboard. Learn more about digital banking services at this blog post by Go Cardless and this article by Nomad Gate.

How do I open a new bank account for my Atlas company?

Here are the documents you may need, which you can find in your Atlas Dashboard. You should check with your new bank to get an exact list of what they require, but most will ask for a combination of the following:  

1. Articles of Incorporation if your business is a C Corporation, or a Certificate of Formation if it's an LLC. These are available on the Documents tab.

2. Employer Identification Number Tax ID (EIN): This is the nine-digit number (12-3456789) on your Company tab.

3. Tax ID documentation: A Form CP575, Form 147c Letter or SS-4 on the Documents tab.

4. Certificate of Good Standing: You can obtain this document through Legalinc by sending an email to atlas-support@legalinc.com. This normally takes one working day.

How do I change the bank I have linked to my Atlas account?

You can change the bank you have linked to your Stripe account at any time in the Payouts section of your Stripe Dashboard. Please see more detailed instructions.

I was an SVB or SB user – what do I do now?

Please refer to the FDIC announcement for more information. Users can contact the FDIC free of charge at +1 (866) 799 0959.

Please take a look at the additional information about next steps regarding Stripe payouts from your SVB account or your SB account.

If you have any further questions, we've set up a dedicated email address for SVB/DNIB- and SB-related questions. Please contact us at bank-continuity-support@stripe.com.