If you are using Connect with Standard or Express accounts, Stripe will proactively reach out and collect information about your accounts whenever requirements change. This article covers best practices for communicating these changes to your accounts, as well as answers to a few common questions you may receive.
Global compliance requirements are evolving, so information requirements are often updated. If your connected accounts are concerned or have questions about needing to supply additional information, reinforce that this is expected and that there should be no issues with their accounts—you (and Stripe) are here to help them.
Feel free to adapt any of these responses for any communications to your users.
We work with Stripe to enable payments for your business. Updating information about your account is important and required. These updates help protect against fraud and keep your account current with global Know Your Customer (KYC) regulations.
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.
If you cannot update your account information by the deadline, payouts to your bank account and your ability to accept payments will be paused. We want to make sure that does not happen, so please let us know how we can help.
Follow the link from Stripe’s email—the form will prompt you with instructions on how to update your information. It should take less than 5 minutes to update your information. If you need help, you can reach out directly to Stripe Support.